a reminder of why i am here.

A reminder of why I am here:
Coal (with a bit of cut & paste.)
I originally got into MNM some 3yrs ago because I wanted exposure to a cheap coal miner and Mt. Mulligan ( black coal & coal seam gas)looked like the goods but Calcifer’s recalcitrance has put a bit of a dampener on this.
However I have stuck with them because I spoke with IK some 2 ½ yrs now and he said at the time the directors were very confident of the company’s position (legal) and this has been backed up by directors on market buying since.
Since then the company has acquired the Texas (Q’ld) area which is prospective for both thermal and coking coals of similar quality to Surat & Bowen Basin coals. The tenements are adjacent to the NSW border and along strike from known coking coal deposits and thermal coal drill intercepts located to the north & south.
The Bacchus Marsh Project area contains a large Exploration Target of brown coal surrounding the Maddingley mine. Mantle executed a Pre-JVA with Exergen Pty Ltd to develop the deposit utilising Exergen’s patented Continuous Hydro-Thermal Dewatering (CHTD) technology. Exergen’s
partners include Tata Power, Itochu, Thiess and Sedgman. They are now drilling to outline a JORC resource which most punters here think could be around 1- 2 billion tonnes.

The Latrobe Valley Project area is prospective for both black and brown coal deposits
including many historical mines within the Gippsland Basin. The tenements immediately abut the main Latrobe Valley depression. There is a high level of prospectivity that the historic Wonthaggi Black coal seams exist at depth within the project area.

Now my humble opinion is that any one of these FOUR (4) prospective coal projects could be a company maker and MNM share price does not reflect this in any way – but if we strike it with one then we are definitely strapped in for the ride. I have said before I well remember when FMG s/p was around 23-25c and I couldn’t convince myself and hesitated until too late but I do not intend making the same mistake with MNM.

Gold
Forgetting about the Victorian Haunted Stream project which I will consign to the distant future MNM has the highly prospective Granite Castle Project area and the Charters Towers Project area,
both in the vicinity of the Queensland historical gold area of Charters Towers.

Granite Castle
.This project already hosts a JORC MII (Measured, Indicate, Inferred) Resource
on the Granite Castle shear of 79,301 oz gold, with the host structure open
along both strike directions and at depth.
My understanding is this resource is from a single shear portion of 600 metres in length and over 6000 metres of additional shears have been located with drill holes and or rock chip samples at similar grades to the JORC compliant area.
So, plucking the yew or stretching the bow ,whichever takes your fancy, ( the beer is starting to kick- in )this could, and I mean could, see a resource of around 800.000 ounces.
But, together with the Charters Tower Project area which contains the Great Britain JORC Compliant inferred gold resource as summarized below:
At 0.5g/t Au cut: 2,128,000 tonnes @ 1.8 g/t Au for 123,000 ozs gold
At 1.0g/t Au cut: 1,535,000 tonnes @ 2.2 g/t Au for 109,000 ozs gold
and coupled with all the prospective historic old mines in the area, one which is prospective for copper gold silver & molybdenum, then it could be we have a company maker in the Q’ld gold prospects.
So, in summary, I consider this company to be the one that will restore my personal fortune provided one ( the royal we – that beautiful ale is really doing the job now) has the patience, fortitude to stay the distance. And please don’t pressure, phone IK unless you really have to – he is based in Brisbane – as he is under tremendous pressure, in my humble opinion, and is getting on with the job of making all you long term holders the fortune you deserve.
I wrote this for my own entertainment but half – way through decided to share with all the MNM punters & believers out there in HC land.
Cheers.
AS always you are responsible for your own research - this is presented as my own personal belief.