Just got off the phone with Steve - was a worthwhile...

Just got off the phone with Steve - was a worthwhile conversation.

Main focus of the company during the wet season is project acquisition and/or negotiating JVs with companies that have prospective tenements but no cash to explore them.

Negotiations with Chinese continue re bauxite tenements however things are moving very slowly cos they want to do their own due diligence by doing their own drilling within the tenements which cant happen until after wet season.

Delminco tenements (prospective for U/gold) that were purchased by MKY settle at end of Jan so not much has been able to be achieved there so far as MKY do not technically own the tenements yet.

Ann re coal project to be released within days (no market sensitive info was divulged re whether this will be +ve or -ve of course)

For any further info i would suggest that you give Steve a call - he was happy to chat and answer whatever questions he could without divulging anything that may have been market sensitive

He did briefly comment on the sp and stated that the market cap of the company currently reflects their cash position only and effectively values their projects/assets at nil.