You can't compare it to MEI, they are a completely different...

You can't compare it to MEI, they are a completely different scope and both at different stages of exploration.

Not sure anyone apart from inexperienced traders who trade off assay grades and hype who have had those sentiments on MEI.

With MEI, they only have a small resource at Juruena, which is based on how the gold is mineralised in the host lithology, MEI aren't even sure if they are looking at an open pit or underground extraction. Regardless, the resource 205,800 Oz resource is not enough to warrant the capex to build a processing facility let alone generate a positive feasibility study.

Additional the location of the project brings challenges with the lengthy wet seasons and the lost productivity as a result.

They need to grow their resource, it is still early exploration at Novo Astro hasn't produced anything significant, but, who knows they might find something once drilling recommences.

At this stage it doesn't look like they'll be mining for a very long time and will probably miss the window of high gold prices. Many got caught with their pants down when gold prices dipped that was the end for many junior miners.

MDI on the other hand has a clear strategy to mine status.

This announcement was fantastic and management have reiterated for about the 50th time that discoveries are LIKELY going to support the PFS for the recommissioning of the mill. We plenty of shallow open pittable mines and all within very close proximity to the processing plant.

Say MDI has a total open pittable resource (excluding Two Mile Hill) of 500,000 Oz a fair & conservative Enterprise Value for the company and the assets owned would be $150/resource oz. Which equals a market cap of $75 Mil and is 3.5x the current market cap and multiple of the current SP.

As mentioned, the above valuation excludes the known resource at Two Mile Hill, which in theory, adds to the EV & any additional resource above the 500Koz estimate.

Regarding Mr Couplous, he is the former chairman and major shareholder of BRV which are about to secure finance for their Bomberema project in, a 2Moz Monster. Funding is going to be a mix of debt and equity, he is probably likely gathering funds to kick that off.

Regarding junior gold plays, most a dog crap, but if you know how to prospect, you could easily pick the good ones out. The SP will always flactuate during the various phases of exploration, but at the end of the day, the company is valued off the back off assays from drills, but the project resource and the financial fundamentals of the project, ALWAYS!.