Re: Based on their current assumptions there is more room for...

Re: Based on their current assumptions there is more room for negative surprise with MEY, already upside factored into their numbers.


Apologies, but what a ridiculous statement.


MEY's share price broke 20c when they were only sitting on 34Mlbs at 140ppm with a cornerstone investor looking to sell (Polo).

They are now sitting on 85Mlbs (+120%) at 170ppm (+22%) with metallurgy showing that ore is amenable to a further 300% upgrade, and a cornerstone investor that's just invested billions in a production operation just 30km away and a desalination plant with spare capacity. Moreover, the resource is likely to be well in excess of 100Mlbs before the year is out. And the SP is just 14.5c.

I won't comment on Bannerman, as I am not seeking to compare the two, but I simply do not see how you figure this 'room for negative surprise' nonsense, when a 120%+ resource upgrade and up to +300% grade improvement has been posted since a -30% move in the SP.

As BGF Equities UNPAID report commented: Marenica is one of the cheapest entries into the Namibian uranium sector. It's cheap at twice the price.