for all new share holders the future with mhm, page-2

Nice one Rod thxs for the update. We often forget there are new investors and simply presume all of us have been here forever. A recap is always nice to see every other day.

I will add my 2 cents on the latest ANN. Would like others input on how your read the latest ANN and your sentiment to key factors;

My 2 Cents of latest ANN from MHM?K

US Expansion
?F?nDirectors return from United States highly encouraged after meetings and site
visits with Smelter Service Corporation and Alcoa Inc.

>>Puts to rest those who thought ??non business trip??. Great to see fast progress and continued interaction with Alcoa. SSC is a ??give me?? seeing as they have both invested money (12 million of our money) in a FE Study. News on Alcoa JV in regards to the 20+ Plants larger than the Aussie one is one step closer and an ANN likely after completion of Aussie plant IMO. I believe a deal is confidential stitched up on completion of the Aussie Plant. As Alcoa exec??s are not foolish enough to let this cash cow slip away. IMO. The more interest from others the more likely they will need to pay a premium. IMO they have locked in their deal confidentially contingent on the completion and successful operation of the Aussie Plant.<<

?F?nTennessee State and local county officials express strong support for salt slag
business expansion

>>Expansion to start in Tennessee then the remaining US states will jump aboard. Directors of MHM will be very busy in the coming years.<<

?F?nNumber of large single purpose (mono-fill) landfills identified to be
investigated for reprocessing. Also identified material from regional producers
that may be viable as feedstock for a centralised processing facility

>>Good to hear- I feel they will find an endless supply of landfill to process when all the state governments and other governments around the world he of the MHM closed loop solution. Will be enough landfills for reprocessing for decades IMO.<<

?F?nExecutive Director Ben Mead to relocate to Tennessee in January to drive
expansion of salt slag business

>>Ben Mead to drive expansion over in the US first and has chosen a very state friendly ??green?? government to drive the expansion. Nice place to start the expansion for our benefit and the state of Tennessee. The way I look at the US market is every single state has as much to process as all of Australia, on average. Naturally we some states are far bigger than others?Kas I said ??on average??. State by state- step by step.<<

?F?nPilot testing of the Spent Pot Lining technology likely in Tennessee due to the
proactive and supportive approach of the State and local governments

>>This shocked me that SPL was at such an advanced stage of development to start pilot testing. With the full support of the State and local government of Tennessee. However we are still looking at a year or so to have the SPL process proven and commercial IMO.<<

?F?nMeetings with hedge funds, investment houses and brokers in New York,
further roadshow planned in early 2011

>>Early 2011 will be a turning point in the commercial development of MHM from that of a small specie to a Mid Cap producer IMO. Many investors are looking forward to the suspected JV??s with several ALU recycling Coy??s to speed up overseas expansion.<<

Australian Operations
?F?nCouncil approval for salt ponds still outstanding. Meetings to be held on week
ending 26 November to try to determine timeline for approval

>>Was a disappointing note in the update and was not very well received by the market. We are speculating a Dec 2010 approval and a Jan 2011 completion of upgrade. Therefore 2 months behind schedule to be perfectly honest. <<

?F?nLarge sections of the process commissioned and exceeding expectations. Full
commissioning once salt ponds approval and construction completed

>>Exceeding expectations means better revenue and profitability. IMO I suspect a revision of the 8.6 Mil revenue from Plant 1 to come in Jan 2011. From speculation I have received the figure could be revised 50% up. At a later date it will be possible to test the NMP and SPL technology for far greater increases to the bottom line. We dare to dream of the further upside from each and every Plant.<<

?F?nSalt ponds construction expected to take 3-4 weeks after approval granted

>>2 Months behind schedule estimated?K Alcoa deal conditional on completion of this plant IMO- speculating that Alcoa has already stitched up a deal long ago. Jan 2011 could be a very big month for investors in MHM.<<

Overall the update was good one yet not outstanding to the market. As the main 2 points that were looked for was not entirely positive. Either point would have been bullish for the SP IMO.

1) Council approval and completion next month.

2) Alcoa JV deal complete.