Care to explain further Dr Tunks, page-17

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HHH233

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28/02/20

21:43

Post #: 43226884
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Originally posted by buylow-sellhigh: ↑

Not sure where to begin with this but here goes.

Over the past 24hrs I've been reading a lot of the responses to the latest results and I must say a lot of it has turned into a lot of what you read on Twitter! People are becoming overly emotional with the way the information has panned out, the non holders taking the high ground with there "I told you so", all of course after the fact. At the end of the day no one at MEI, including AT held a gun to anyone's head and forced them to invest. Anyone that has invested made that decision themselves and needs to take personal responsibility for it and own it. I think for a lot of people if they do that then they remove emotion from the equation and can look at it rationally.

Back in June the board of directors set out a plan to drill 4700m at Juruena with one basic objective in mind and that was to test their understanding of the previous drilling completed and to more or less appraise that work (sorry if I don't have the correct terminology for this). This was a deliberate decision since the existing JORC was heavily weighted as an inferred resource so they directed this campaign to address that. After completing 23 holes for 4366m of drilling the results, based on past news flows (which everyone can research), I believe has ticked this box and provides the company a solid platform to follow up drilling in the 2020 campaign and to move to the next phase of growing the resource.

As for Novo Astro I think it is way to early to be calling this a duster. Personally I'm looking at this as a glass half full scenario. The boards decision to to include a program in this previously un-drilled location given its history and early indicators was the right call. Drilling new unproven ground is always high risk. But the campaign did prove there is gold under the historic garimperos working, and although the subsequent holes to date have not produced the results for an economic resource it has provided AT and his team a better understanding of what they are dealing with, which will be invaluable for the follow up 2020 campaign. Novo is approx 25 sqkm, MEI have literally scratched the surface of this huge anomaly so far.

Personally I'm looking forward to the 2020 drilling campaign and I'm 100% backing AT, his geo's and on ground team, and the MEI board.

GLTAH

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Quality post The geology discovered under the Brazilian Juruena surface gold mine will be the same geology that feeds the Novo surface gold play I would imagine.To be calling stumps on Novo would be short sighted and I am confident the Doctor would agree. The success of the Juruena 2020 drilling will give the team the opportunity to open up Novo especially with the confirmation by the first Novo cores of gold and after a discussion with A.T he wants to hit it hard. Although only poor grades with some visible gold in the cores, to confirm a gold play under Novo at this early stage means opportunity .
Cheers

MEI Price at posting: 1.2¢ Sentiment: Hold Disclosure: Held
7 Upvote

0 Great analysis

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