I hold a very NEUTRAL to potentially disappointing view...

I hold a very NEUTRAL to potentially disappointing view regarding the imminent Yamarna drilling results
WHY ?
1. MZM has a very tight capital structure with approx 71% being owned by the Top 20 shareholders and following the 23 Sept, 2015 announcement of commencement of drilling at Yamarna, despite the worst climate I have ever seen, I would have expected much more speculative interest in the shares as the drilling commenced and progressed.... Nothing of the sort occurred !!.. Infact MZM struggled to hold the then prevailing 21 cent mark

2. The Yamarna drilling having commenced, from my experience, drillers/geologists/rig hands all have a pretty good idea how things are going and despite any "sworn to secrecy pacts" my skepticism is such that IF the cores looked very promising, then quite frankly some sign of this would have been seen on the market..... Nothing at all !! Infact a clear impression of potentially another "Woodie Woodie " !!

3. Then on Wednesday this week, the waters broke and we saw some very unusual trading with MZM !! Somebody losing their nerve and if so, then the selling of 263,600 shares was well absorbed ( none by me ).. then followed by a dead day yesterday with only 11,500 shares traded

OR.... Was it trading whereby the selling and buying were one and the same !? ie: going from one pocket into the other pocket !?? ... for the purpose of trying to draw out some stock from other sellers... I simply do not know the answer to that question, but it may have been !.

4. Now, we have the TRADING HALT .... until Tuesday or earlier if the announcement is made..

I would NOT be celebrating or pulling out the cheque book yet and I sincerely hope my skepticism is way off the mark but right now my intuition gives me the message that one should not get too excited. I hope that view is way off the mark... we will soon see !

Regardless though, MZM still has loads of potential going forward, one way or another.

END