SP certainly disappointing at the moment and especially for SPP holders. Midrim has potential but Mr Market does not care about massive copper sulphide hits these days unless its a Sandfire type hit. Midrim centre zone cores look reasonably good, maybe better at depth, we shall see. Ignore kiwijuice and his comment re skinny sulphide hit at 500 metres depth, that was not the main Midrim focus area. But anyway, puting that aside, Iron Mask and Mulligans could set things on fire although regrettably MEI poured an unwarranted bucket of water on the potential fire before we really get started with those completely unrepresentative 7kg rock sampling assays at Mulligans when an 8 tonne bulk sample result (historical) showed 10% cobalt. Talk about shooting yourself in the foot with a shotgun. We dont need share price downrampers, the management did a good enough job already with that sampling protocol. Needless to say the market has ignored the bulk sample and focussed on non-representative rock samples. They touted the bulk sample in past announcements, I'll bet a lott of SPP holders took notice of that, and then they go and do the most stupid thing I can think of and undermine the SP as well as casting doubt (unwarranted) on the value of Mulligans. Beats me, it really does. I challenge management to explain the necessity for those rock samples in light of the more credible historical bulk samples. Since they were touting it, do they in fact not beleive it so did the hither and thither rock-sampling.... you really have to wonder. So far, Midrim lets call it 5 out of 10, as its not yet certain where this could end up, the score for management ( re Mulligans fiasco) is 0 out of 10 and I am being generous in allocation a 0.
MEI Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
