Ann: Quarterly Activities Report, page-109

Pennypincher,

You're not doing your homework if you are trying to compare MEI's cobalt tenements and its gold tenements.

As well as hosting a completely different metal they have a completely different geology. Juruena and Novo have similar geologies, both host gold-have had 500,000 to 1,000,000 ounces removed from the first 20 metres, and Juruena has been successful in establishing gold mineralisation under the Garimpeiro pits so by logic, with similar geology( e.g. alteration,host rocks) there is a good chance that Novo will be successful also, and at much greater widths if the alteration across the pits is anything to go by(estimated to be in the 10's of metres).

Therefore it is not naive but in fact very logical that Novo will have a positive outcome....thus this is much more than a punt, but a well educated and well researched investment.

AIMO