General discussion (MEI), page-4805

my assumption is the mentioning of environmental factors and the tendency for markets to discount resources in sensitive zones - potentially 297 MT is at risk and approximately half of soberbo (approx half - 115 MT is in the reserve) has spooked some investors and there is probably some money flowing into VMM based on the foster stockbroking report. Further scoping study is based on soberbo and capao de Mel. So the question is why did Mei not disclose this earlier? Transparency is critical because at minimum a delay can be expected with more studies based on seasonal flora-fauna activities. Personally I think Mei will achieve the licenses albeit with delays and this ispeed to market with VMM potentially achieving an operational license ahead of Mei now being a consideration whereas in the past Mei was seen as at least 12 months ahead.

I wasn’t impressed with the way Mei reported the environmental issue. Mentioning “reasonable prospects” in regards to major issues like licensing tend to cause investors to flee, especially if they are in significant profit.

”As such we consider there are reasonable prospects for eventual economic extraction to justify the MineralClassifications of Indicated (within the Buffer Zone) and Inferred (within the APA).”

better to use other examples of mining activity and approvals to promote market confidence.