Here are my notes from the AGM today. I am no PP, so its the plain english version.
In attendance were:
MD Joshua
Director Neil
Director Dehong
Only about 4 - 5 shareholders
And 2 guys I think were from a broker
- they were excited by the announcement today
- the whole project had advanced considerably in the past 2 years,
- there are significant signs in the ground,
- most of the experts whilst they will be well rewarded are in it for the discovery and reputation.
- they have the best team available, Robin Hills expertise has provided the model that most miners follow these days
- 40km strike zone held by a small company is pretty much unheard of
- none of the hole drilling results are considered failures, each hole provides information for future use
- Talc Lake was selected for drilling as when Neil and his team visited the area again they observed features that they were excited by and I guess have now been confirmed in today's announcement
- going back to holes 23, 24 25 to test further
- still maintaining a methodical approach to drilling rather than priority testing
- Neil said of the saying 'wheres there's smoke theres flame' he said lots of smoke out there
- They felt the shares had held up pretty well given nickel price and performance of many similar miners, used POS as an example
- Best time for drilling is now, cheapest drilling costs in 15 years
- Neil felt company would be significantly advanced in 12 months time
- He did say there were some big investors watching the company and there may come a time with the right announcement that they will get involved.
He said before the meeting that a new chairman was likely to be appointed in the new year which should bring further support.
My take is Neil was very approachable, got his card and Joshua's.
They did understand that sometimes communication was not the best with small holders but they virtually have skeleton office staff.
My take is to hold.
Risk versus reward is good on this one.
MPJ Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
