The meeting went well, certainly answered any questions/doubts I had.Although we were met at the door by some protestors with nothing better to do than chain themselves to the stairs, obviously they didnt have to work today, as they were still chained there as I left.
I wouldnt be expecting too much news in the next few weeks, but the next 2-6 months should answer a lot of questions being thrown around on here.
It was explained that the focus is on the obvious three main projects; MtMulligan, BM and GC.
MM - They were made aware of the proposed NP on the Friday afternoon prior to the ann, as apparently the area has proposed off and on for years. The important point worth noting is that the traditional land owners are still onside and want the project to go ahead and once the ILUA is signed we can begin exploration. Its a very legally sensitive process and no more detials can be released.
BM - Drilling on final three holes begins tomorrow, with these last three being the thickest seams of the program, water loggin will also be done on these final three holes. It was mentioned that the results have been above expectation thus far (as we all new. JORC results in approx. 2 months.
The Exergen demo plant can be built anywhere, the upgrade of the rail system is a positive. The reason for the JV delay being an issue early on but things back on track now. All descions have to go through all partners involved with Exergen, also adding to the delay. My feeling on BM after the meeting was much more bullish! IMO
GC - Drilling program is almost complete now that wet season is over, waiting for the ground to dry up and very excited about the potential resource. Drilling to begin here once BM drilling is completed, so approx 2 months.
Other projects-
LV - Working throught the processes, but focus is on the other three projects mentioned above.
Ashford - There isnt much land left in the area and MNM wanted a claim in NSW as land in the area has become very expensive. Desktop study will be done shortly. Didn`t feel it was necessary to annouce this in a seperate Ann. as not much is known at this stage. Also mentioned the fact that its hardly a share price moving ann, certainly in comparison to BM JORC.
Overall the meeting was very well handled, IK was impressive and very knowledgeable about all the projects on the cards. IMO from JUNE-DEC things will really start to happen, and share price should reflect this.
It does get said far too much on here, but I would/will be buying more when money becomes available.
MNM Price at posting:
11.4¢ Sentiment: Buy Disclosure: Held
