concerns , page-9

Yes, I too was concerned when the uranium turned out to be not as good as the first indications, but have put it down to the fact that any explorer cannot be right every time. Lay people think that the company geologists know everything. But that is not so and that is why holes have to be drilled to uncover the truth, and when there is nothing then in my opinion that is bad luck not necessarily bad science. It is not as if the directors are milking lots of money from the company and their returns are directly linked to the share price.
The company is into some very prospective, unexplored, country with uranium, gold, bauxite, iron, coal, tin, molydenum waiting to be uncovered and the intention is to be a major explorer in a time of rising world metal prices. Not every hole will bear fruit and it is very good (and we should express relief) that there are some very good other strings to the MKY bow with the bauxite and coal potential, and the other minerals they are looking at in the tenements. I feel comfortable that De Lacey, one of the consultant geologists with considerable experience in NQ mineral exploration, has bought a sizable number of shares (just below 4 million) to add to his allocation coming from the Delminco deal. The management has been poor up until a few months ago and now I am more comfortable with the new management. I also feel that the involvement of the Australian Energy Company is a positive.
If the company can get to 8 cents on uranium which cannot be mined in Qld then, even in this market, it should go better if they proove the large bauxite and coal discovery.