anyone want to guess the drill results?, page-3

$24m company....about $12m of that is owned and leased property and other assets. Annual cash flow income of $750,000 from these investments.

Am quite confident here...they walked from a deal,a week ago...have been of benefit to 2 Directors of Malagasy - who were also major stakeholders of the propsed merger company.

Drilling started in August...already 22m of mineralisation, fairly shallow from first drill. Company probably has a good idea of what they are sitting on by now.

11 surface sulphide features (gossans) and strong magnetic over 8 kms strike,copper-nickel.AVB by way of comparision sitting on 300m of mineralisation....AVB is a $110m company.

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4 October 2010

DEED OF TERMINATION & RELEASE FINALISED

Malagasy Minerals Ltd (ASX Code: ?MGY?) advises that a Deed of Termination and Release (?Deed?) has been finalised with Madagascar Resources NL (?MRNL?) as referred to in our ASX release dated 24 September 2010.

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Check out photos of core samples in their Sept Investor update.....not much point talking yourselfs up, 4 weeks after drilling started/cancelling a big plus deal...unless they are sitting on something significant.

This one could be anything.....but watch out for a big gap, should that news be positive.