fat prophets cover mey again

Hi all

Fat Prophets released an update on MEY tonight. Nothing new or that we don't know. Going through the progress since their last update - particularly the resource upgrade, drilling results and metallurgical work.

My summary:
- maintain positive outlook with a hold
- technically, 15c resistance, breaking 13c could see drop to 10c, breaking 16c could see retest of recent high of 22c
- believe there is more upside than downside
- dissapointed by no re-rating on resource upgrade
- not convinced about economics at current spot prices
- screening, scrubbing and ore sorting (resulting in grade increases) could be the surprise positive
- expect another resource upgrade and over 100m pounds
- next catalyst the scoping study - could surprise to the upside

You all know my views on Fat Prophets' recent coverage of MEY. They are pretty much sitting on the fence here, a bet both ways by questioning the economics and then saying the scoping study could surprise to the upside. Poor form in my view and demonstrates that they might still fail to understand this project. I don't pay for information which is readily available, I pay for them to make a call. However, this report had a lot more positive overtones than the previous report.

Anyway, s summary and a vent from me tonight.