Ann: Conrad Resource Upgrade , page-7

Hi wert1234,

I've held MAR off and on for a number of years but I don't hold right now. I agree with all your sentiments you express in your last post but my concern with MAR is that the company hasn't made the transition from explorer to miner.

In my view, the company needs to get Newstead operating and cash flow positive. Right now, I'm looking for announcements about approval for trial operations at Newstead and commencement of actual mining. The gem for the company is undoubtedly Conrad and the polymetallic nature of the Conrad ore means some inbuilt protection against price fluctuations. However, I can't see the company doing any mining at Conrad until they establish a profitable operation at Newstead. Conrad requires expensive infrastructure to get started. Newstead needs an earthmoving contractor and a handshake.