JobenThanks for your post, you raised some fair points that are...

Joben

Thanks for your post, you raised some fair points that are worthy of discussion.

I think most people involved since IPO (and even later) would be disappointed with where MRZ is at and the apparent lack of progress. I'm frustrated and would love to see the share price higher - that's only natural. Regarding Peter Ruse - I've engaged with Pete on numerous occasions and have always found him to be open and honest in discussing the company, macro issues, market issues, commodity issues. This has been for negative and positive situations. What I can say is that the reasons I invested, and continue to invest, remain. Despite the lack of share price performance, I continue to believe that Peter Ruse is doing a good job navigating some tricky market conditions that continue to persist.

1. Tight structure
2. Experienced Board (yes MOK has stepped aside but I suspect he's still acting in an advisory role when possible).
3. Low shares on issue
4. Cash in bank
5. High Top 20 holding
6. High director holding and/or those close to management
7. Low overheads and running costs - definitely not a lifestyle company.
8. Mining friendly project locations.
9. Low Market Cap.

The partnership with Azumit at Wapitik appears to be a dud at this stage. Bohier (Lithium) was put on hold due to the collapse in Lithium prices but has been put back on schedule moving into the summer drilling season now that Lithium has improved.

Some negatives (in order to bring balance and respond to your concerns).
1. Time value of money - yes, has to be considered.
2. Wapitik - has gone very quiet and appears to be a dud??
3. Low volume/liquidity so price keeps dropping - but I'd be more concerned if it was on big volume.
4. People may look to move on if we get some news or liquidity that provides them with an opportunity to sell, placing further pressure on the share price.
5. Coming up to EOFY we may see some tax loss selling.
6. Small caps still not great (generally).

Anyway, that's my thoughts. FYI - I'm still buying. Frustrated long-term holder - yes, but I still believe in the great potential MRZ has based on the factors above, and I'm happy to have Peter Ruse continue. DYOR, happy to hear other people's opinions.

Doyle