MEI: UNDERVALUED COMPARED TO SPX!

Last week some of you may have noticed there was a takeover offer of Spectrum Metals(SPX) by Ramelius(RMS) for 15c-PRESS HERE

The take over was in relation to their flagship project Penny West.

Now the interesting thing is that Penny West deposit is like Juruena, narrow and high grade.

Now compare the JORC size and grade of Juruena and Penny West.

SPX:

Penny West: 799,000 t at 13.8gt gold for 355,500 Oz.

MEI:

Juruena: High grade Dona Maria & Querosene resources- 436,000t@ 14.7g/t for 205,000 oz AU

also

Large-tonnage, lower-grade Crentes resource with- 846,[email protected]/t for 55,000 oz AU.


Now interesting to note is that Juruena's JORC has plenty of room for growth for as we know in MEI'S current drill program they have already found bonanza grade inside and outside indicated, with a possible porphyry copper gold discovery; with assays pending for further drill results.

Then there is Novo.

Widths and grades unknown as yet(79% of holes still to be tested), but this:

We know that where they have found greater pyrite percentages in cores was where the Garimpeiros workings were greatest or where the miners were finding the most gold.

'Holes drilled further east along the trend intersected zones of moderate to strong sericite with much greater sulphide
content, up to 20%, than the generally weaker zones observed in holes NADD001‐003 (1%‐3% pyrite) .This also coincides with the larger Garimpeiro workings at Matteus and Graça. The Company believes there is a realistic expectation that gold grades will be higher at Matteus and Graça where there are substantially larger artisanal workings and higher sulphide contents.

“At the Graça and Matteus Prospects, where we are currently awaiting results, we have seen stronger
alteration and veining than witnessed at José. On the ground there is an expectation of significant gold
intercepts at Matteus and Graça, where more intense shearing, alteration and higher sulphide contents
have been observed." PRESS HERE


This is all indicative of the companies expectations of SIGNIFICANT GOLD INTERCEPTS IN UPCOMING CORES! Of course there are no guarantees, but these are the justified lines of logic behind the companies predictions for upcoming results!

Something also very important to remember is that we are an E. X. P. L. O. R. E. R.!, so we are lucky. We are still in that stage of the cycle where there can be exponential gains in the share price based on discoveries and why a sharp increase in the share price can be obtained!

Also, you do not have to go mining to have a very good result from here short to medium term, being in THE EXPLORATION PHASE because:

1. The potential for discoveries giving an exponential rise to the share price.

2. The chance for a take over based on the discoveries of MEI where MEI is taken out at a premium which can even be 100% to the SP prior to takeover.

This can be seen on the graph below:



Now to get back to the comparison between MEI and SPX:

1. Both narrow and high grade, although width and grade of Novo unknown!

2. JORC not too dissimilar; plenty of room for growth at Juruena. Novo is probably the largest undrilled gold anomaly in the world. If the geology is right which looks highly promising with all the alteration Novo could add multiples of value to the company.

3. The possible discovery of a copper-gold porphyry system(s) at Juruena could add huge value to the MC

4. Now compare market caps of both companies.

SPX MC=196.7 million MEI MC= 29.18

Conclusion:

I'd think you would have to agree that MEI has been way oversold and undervalued when we compare it to SPX's deposit type and resource(MEI's gold anomaly much, much larger-plus JORC similar) has massive growth potential when we compare the market caps. i.e. MEI's share price should be much higher!

Exciting times to be holding MEI with the expectation of significant gold intercepts at Novo(79% of assays still pending) with also Juruena results to come.

AIMO

P.S.

Below the following pictures shows some of the MASSIVE PYRITE ALTERATION that they are finding in the cores of the next holes at Novo Astro:


Note above the massive pyrite bands strangling the core in a hole yet to be assayed. NA7: Matteus Prospect

Note above: Pyrite encircled with red. Calchopyrite(also potentially gold bearing) the dark orange stuff denoted by yellow stripes in a core yet to be assayed. NA8 Graca Prospect



Above: a good example of A LARGE PYRITE ALTERATION spewing from a vein in one of our later(yet to be assayed) cores. NA8 Graca Prospect

THE PRICE OF GOLD:

The price of gold is going gangbusters at the moment breaking through 7 years highs. Therefore as some have said would be great for MEI to have some more bonanza results with the POG skyrocketing!