So we have a new MD with loads of specific relevant experience....

So we have a new MD with loads of specific relevant experience. The new MD is encouraged to hit the ground running by a carrot like 1.5mn oppies at 25c on top of his $250k salary.

MWN sits on some very prospective Fe tennements none of which are DSO grades but given they are reporting almost no impurities it is quite a simple process to produce good quality Fe concentrates.

The "Northern Lights" project is not one of those in the middle of nowhere, it is 80Kms from a railway line going straght to the steel making areas of South Africa, close to roads and a major river also with the benefit of electricity lines running through the tennements.

The strike area is about 28KMs long with the largest continuous anomaly being 10KMs long.

They have only just started drilling it and initial drill results support the magnetic anomalies discovered by helicopter surveys.

MWN has cash backing of around 10c per share and is currently about 16.5c on the market.

As a result the entire Fe project is valued by the market at around $3mn which is far too chea imo.

More ANNs can be expected over the current quarter which will give further insight into the project.

The Davis Tube results will not be known until March but I would expect further updates as the new MD starts to run things. After all the new guy will be judged by what he does to the SP.

Bearing in mind the tiny market cap and small amount of shares in issue any positive ANNs will send the SP sharply higher.

30mn shares + 18mn options and enough cash to ensure that cap raisings are not necessary, at least this year.

In January I sold my entire speccy portfolio to go completely overweight in a certain coal company (also beginning with M), I could not however bring myself to sell my MWNOAs.

So while this is not a day trading stock I certainly see a strong possibilty / probability of MWN coming up with an ANN or 2 over the next few months which would lift the company's value up to the $15mn - $20mn range. This may not sound a lot but it would have the effect of tripling the share price and making the MWNOAs an 8-10 bagger from their current 2c.

Over the last few months I have been the only person commenting on this stock.

Is there anyone else out there also holding / looking at MWN or am I completely alone?

EB