Ann: SPECTACULAR ZINC-LEAD-SILVER-GOLD AT MALLEE BULL, page-50

yes sarg I've always been impressed that Rob makes the time to take calls and reply to emails. says alot for his attitude toward investors. PS I see HHM have had a bit of a re-rate on the back of this so hope you've had a double result!

on another point - if HHM & associated parties/entities account for about 25% and rob has 5% and two other shareholders who have consistently maintained their shareholding (so unlikely to sell) account for another 20% then that's a very tight register with only about max 65m shares available as a free float (probably significantly less). We could easily see a repeat of 2012/2013 (attached). Just remember the SP is only back to where it was a bit over 12 months ago. This is just a well deserved, very welcome re-rating after the stock was way oversold last year IMO. Lot more upside if you ask me. There is alot more mineralisation - I know the current excitement is about ZN but there is plenty of CU yet to be found deeper down.

for sure there will be some short term ups and downs/pulls backs in the SP over the coming month but this graphic of the CSA mine (attached) is what I believe is going to unfold at Mallee Bull over the years but at a faster pace as the geology of the region is now very well understood. Compare that to some of the diagrams PEX have been putting out and to me the similarities are to much to ignore.

It's why I agree with a few others here that it is only a question of when (and how much) not "if" Peel gets taken out of MB on a royalty and moves on to some of the other equalling interesting opportunities in the portfolio. I liken this scenario to the recent move by IGO on SIR (not saying this will be a $1bn company) just making a comparison to a likely end game.

I've posted a similar comment before - last year was a watershed for the company with a rushed, poorly executed JORC (probably under pressure from those two fund managers), their resultant sell down, an obvious (to me) dispute (but seemingly undisclosed) with JV partner which stopped exploration at MB for most of the year and as a result no follow up results to the excellent 2012/2013 program, as well as a cyclical turn against the sector - all occurring within a very short space of time. Pushing down the SP and elevating the risk of the company so that it went as low as 5c. I'm a firm believer in the Buffetism - the stock market transfers wealth from the impatient to the patient (learned the hard way!).

I think Rob and team have learned from all of that and now the ducks are lining back up. I believe this started with the signing up of JOGMEC last year and continues with these results. The move from shaft to open pit potential is a major de-risk for the company in terms of potential funding (or buy-out interest) to move from exploration to mining.

With Mundoe, Apollo etc there is plenty of other reasons to get excited about this stock.