Most juniors have currently chosen to explore former mines in old districts and/or recycle deposits that failed in previous booms. These juniors now are developing deposits and attempting to become miners as opposed to traditional roles in greenfields exploration.
Major miners? roles have reverted to funding juniors thru equity positions, joint ventures, and strategic alliances.
Not too concerned with share price fluctuations and was really surprised that i managed to buy so much more shares on the recent consolidation phase. This is a medium term play but i have a strange feeling that it might explode at any time once the markets realise how little phosphate plays there are on the ASX.
Management's proven caliber really impresses me on this stock. These are historical resources they have on their tenements and its just a matter of time before they start dispensing the newsflow. Once they prove their resources, expect major players coming onto the register to Farm-in and/or JV this to production.
MNB Price at posting:
50.7¢ Sentiment: ST Buy Disclosure: Held
