a probing analysis of macmin, page-27

Yes, good analysis. Disagree with the cash burn projection as it includes drilling and assaying costs on their exploration teneaments all of which can be suspended to conserve cash if required. Not sure on the 81% recovery figures but a plant metallurgist I spoke to said if they are correct they would have to be the lowest he has ever heard of for silver recovery. Time will tell whether you made the right or wrong decision. It's the nature of the beast that old blood must be replaced by new blood to continue a bull market in shares. History also shows that most people sell at the bottom. I suspect that the buy and hold investors are the ones baling out as the ones that have traded some stock at the highs would probably be accumulating at these levels. Looking at the entitlement issue it appears that Bob Mcneil shares your concerns as he only applied for 6% of his entitlement. Discusting effort on his behalf! If MMN was as desperate for the cash as made out he of all people should have known that for the sake of the company he should sell 1.3M shares and reinvest through the entitlement offer. A cool $500K that MMN missed out on. As for the other director buying some and then buying the rest on market well as far as I am concerned that is not leading by example. The $20K worth he purchased at bargain basement costs would have been better applied through the entitlement offer. Discusting is all I can say! Add the Frontier Resources entitlement offer last year where they spent $300K (I think) without share holders approval and it looks even more damming. I'm pretty sure that investment is underwater!

Well I did take up my entitlement shares and a bit more. I based my purchase as I have on all other purchases in all of the MMN entitlement offer on some fundamentals and the technical outlook on the charts. Those that can read charts should be able to see a very powerful chart formation. A close above 18c, 25c and then 35c will confirm the technical outlook. After reading Hamilton's piece today I am extremely confident that the technical outlook for MMN is very good. Dogs run in full blown bull markets as well. Throw in good drilling results a possible jorc, silver climbing over US$20 on its way to US$30 and satisfactory outcome to their production problems and you have a catalist. Prior to the last uplug MMN corrected 85% of its prior upleg. On 22nd Jan MMN hit the 85% retracement level of the last uplug. Daily technicals are all bullish and we also have the 5EMA just about to cross the 15EMA.Should do so Monday. As I said, those with TA skills should look at the weekly chart. It has two patterns on it and both give an initial target of 65/70c.