Ann: Change in substantial holding, page-4

Read enough in the media to be careful what I say about this guy, but the timing looks interesting to say the least... he buys 37M out of 41M extra shares at an average price of 3.2c and 2.7c at "Various" dates

There was no volume to be had for ages before the 16th Dec when the acquisition deal was announced, and trying to get set before it was announced with his media spotlight... I don;t think so. Basically shares gapped up from 1.6c to trade 156M shares from open 3.5c, high 4c, low 2.6c on 16th Dec


So i look at how this went down, only because MEI recently come to my attention and I see a change in sub today.


WOW... the BOD chose to release the acquisition on 16th Dec but wait two whole business days before announcing the money shot... that unlike nearly every other IC hosted deposit I've seen on the ASX (and there are heaps) this project actually has good recoveries of REO using just ammonia salt leach at pH=4 (no pH=1 acid leach which is prohibitively expensive usually). This is taken from the 16th April acquisition release, need more time to confirm metallurgical work before release to the market.

Two business days later... BOD now has that substantial met work testwork back and mic-drops it like Obama. This is the real deal people, this was a massive buy on Friday 16th and Mon 19th Dec... who knew?

I'm not going to speculate on who knew, but I will point out Kumova could only have picked up 37M shares at an average under 3.2c buying on 16th April when the acquisition was announced. A lot of shares traded 16th and 19th, a lot of had confidence this wasn't just another clay deposit with poor recoveries outside highly acidic leach conditions. At least director Paul Kitto had the decency to start buying on market 19th Dec, even if it was one day before the game changing met work was released...

Can't bring myself to chase this plane down the runway, not sure about the jurisdiction or locals etc, etc, but I know a cracking real-deal ICD when I see it.

GLTAH