Thought I'd let u guys know that when I spoke to Jim Morgan...

Thought I'd let u guys know that when I spoke to Jim Morgan recently, he told me that the agreement that they signed with Mitsubishi included a confidentiality clause which required all CNQ announcements to be approved by Mitsubishi first before they were allowed to be released. So there is a strong possibility that no actual numbers have been released because of this clause.

Another thing to consider is that all companies under the Corporations Act have Continuous Disclosure requirements for any significant events that are price sensitive. So you could actually say that no news is good news because any results which were significantly below expectations would by law have been released by the company already. Unfortunately, it could also mean that results to date are also not significantly above expectations.

So since nothing new has been announced by the company, I have assumed that what the company announced in their most recent announcement on 5 July has not materially changed ie.
- The tailings recovery project is continuing in its production ramp-up phase.
- The grade of concentrate produced has greatly exceeded the anticipated W03 content expected from the Tailings Recovery Feasibility Study.
- The successful confirmation of the tailings recovery process and the better than predicted recovery results have significant positive financial implications for the Company’s hard rock project financial model.
- MCU and a number of other key potential project participants are scheduled to visit Mt Carbine at the end of July 2012 to review the Company’s hard rock feasibility study and discuss funding options for the hard rock project phase.

We are now nearing the end of July 2012. IMO, a rerating of the share price is a strong possibility if funding or an off take agreement of some sort is secured. Added to my holdings today and continue to have my fingers and toes crossed that Europe gets its act together.