Ann: TiZir Titanium & Iron and Eramet Financing Update, page-7

MM

No. but others here have suggested a plausible reason.

I got in last year at 22 cents and am just sitting tight with the hope that things will turn out OK. I seldom look at it as its not a big investment (52k shares).

This is a lottery ticket for me with a heap of upside if things come good one fine day. Note that they have not been diluting shareholders.

There is a major successful resource investor which kept buying in at the lows, and I felt they knew far more about the mineral sands project then me so another reason to give it a try.

This is the only non-goldie I have been holding. I was a follower/owner of MDL in the past when it had a gold mine in Senegal (since spun out as TGZ). I have next to no understanding of the mineral sands industry and operational matters so basing an entry into MDL on what I may say is not a good idea. Based on my past interactions with the management when they were a gold producer and what they have done, I think they are basically pretty honest but somewhat daft.

Good luck.

loki