Ann: Unlocking Value of Non-Core Assets, page-165

'He is strongly implying that buying and holding MNS shares is a good deal' - Yes he has done that many time & in big quantities by 'buying & holding MNS shares' - so why all of a sudden convert 2017 expiring options to obtain FPO MNS shares ?

Sorry it does not make sense to me. Even if in all seriousness it is to get access to a U308 spin-off why do it now ? There will/should be plenty of time to do this in the future. It is one of the strangest moves I have seen for sometime. Maybe it will become clear sometime in the future.

All I am concerned with is the risk/reward of waiting for fiance. We are now IMO going to be several months behind where we could have been if a full BFS had been done months ago instead of relying in SINOMA's 90% financing. It was a very bad tactical move by BOD to leave themselves open to exactly what is taking place now, which is the requirement to get a BFS so that Chinese financiers don't have use over a barrel and/or pull the so called 'binding' off-takes.

So several months wasted while others graphite companies drill up & test potential competitive resources. I admit most are well behind as they will require envir reports & sign off + mining licenses etc, so at present MNS still has a HUGE advantage especially with LiB/graphite demand set to explode sooner rather than later. On the basis of that I am still sitting tight till end of 1st quarter next year anyway.
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