agm, page-11

Just a few more comments from agm from the notes I took:

Co is looking for cash flow
Dealing with very high grade gold
Pour gold on cusp 08/09
Want a decline to attract interest of big boys
Ultimate goal in or around Woods point for a plant to source ore from several prospects
20 metres from MS414 which gave 21g/ton
next hole to be reached gave 1392g/ton
Hoping for average 12-15g/ton from Maxwell
$70k to get to high grade ore
New reef totally unknown, 1.5m wide, strongly laminated, some visible gold, runs to north
Ghecko $3-4m to buy, under consideration
2-3000 oz/mth @ 1/2oz = $12-15m prfit pa and $5m would finance a Gkecko and $8-10m finance a decline shaft. Result is a serious mine.
Not happening tomorrow, but things at mine can move on very quickly.
Nick gave estimates to me of 2000ton/month @ $270/ton producing 1000oz/mth =$1.1m

Looking for "cornerstone" investor

That summarises my notes and you can add it all to the jigsaw. I wish the home treasurer would relax the purse strings more because I would be buying more.
Nick Garling is committed, enthusiastic, more than willing to talk to smaller investors such as me, I also believe him to be honest. Looked him straight in the eyes and asked if he had any doubts that he would not be able to fund developments at morning star and he said without hesitation or as bblink of the eye, that he had no doubts whatsoever. And that was the answer I wanted to hear after travelling from interstate for the meeting.

Oh, one other thing. There are some well connected Directors on the Board of which one has been recently involved in significant capital raisings for a mining company. Reading between the lines I am guessing there is the possibility of funds coming some way from such a source. Pure speculation but this mco site floats the odd speculation from time to time.