Comparisons: You look at a company like Spectrum Metals(gold),...

Comparisons:

You look at a company like Spectrum Metals(gold), whose SP is 8.9c, by comparison to MEI's 3.0c

In SPX's announcements when you look at their flagship project Penny West only 4 out of the 28 they highlight as significant intercepts are above 10 metres.(2x11,13 and 14m) and there are many 1-4 metres.This proves my point you do not need to have large intercepts to have a deposit.

SPX Penny West Flagship Deposit Best Intercepts:

SPWRC001 2m @ 19.7 g/t gold from 115m.

SPWRC002 14m @ 14.4 g/t gold from 124m including 8m @ 23.3 g/t gold from 128m.
SPWRC006 5m @ 28.9 g/t gold from 203m, including 1m @ 103 g/t gold from 203m.
SPWRC009 3m @ 5.0 g/t gold from 86m including 1m @ 11.5 g/t gold from 86m.
SPWRC016 8m @ 24.2 g/t gold from 149m including 4m @ 43.7 g/t gold from 150m.
SPWRC018 9m @ 16.2 g/t gold from 130m including 4m @ 35.2 g/t gold from 135m.
SPWRC022 4m @ 105 g/t gold from 151m and 1m @ 11.5 g/t gold from 86m.
SPWRC024 2m @ 12.0 g/t gold from 173m.
SPWRC027 6m @ 47.4 g/t gold from 150m, including 2m @ 140.0 g/t gold from 153m.
SPWRC028 1m @ 16.2 g/t gold from 172m.
SPWRC029 11m @ 25.8 g/t gold from 131m, including 6m @ 46.8 g/t gold from 131m.
SPWRC030 1m @ 11.4 g/t gold from 175m.
SPWRC032 2m @ 12.9 g/t gold from 186m and 1m @ 11.9 g/t gold from 196m.
SPWRC039 3m @ 70.8 g/t gold from 205m including 1m @ 180.3 g/t gold from 206m.
SPWRC040 11m @ 11.7 g/t gold from 229m including 7m @ 17.5 g/t gold from 230m.
SPWRC047 4m @ 4.60 g/t gold from 111m including 1m @ 18.0 g/t gold from 111m.
SPWRC051 13m @ 3.2 g/t gold from 141m including 1m @ 26.0 g/t gold from 149m,and 4m at 16.8 g/t gold from 116m including 2m at 31.1 g/t gold from 116m.
SPWRC053 9m @ 7.7 g/t gold from 200m including 5m @ 13.3 g/t gold from 202m.
SPWRC054 7m @ 4.9 g/t gold from 225m including 1m @ 24.0 g/t gold from 231m,and 3m @ 15.0 g/t gold from 239m.
SPWRC056 5m @ 24.4 g/t gold from 241m including 3m @ 40.2 g/t gold from 241m.
SPWRC067 3m @ 34.4 g/t gold from 264m including 1m @ 99.9 g/t gold from 265m.
SPWRC068 9m @ 24.1 g/t gold from 265m including 3m @ 69.3 g/t gold from 267m.
SPWRC069 9m @ 15.9 g/t gold from 294m including 6m @ 22.5g/t from 295m.
SPWRC070 2m @ 16.6 g/t gold from 274m.SPWRC071 2m @ 48.7 g/t gold from 264m.
SPWRC072 1m @ 7.1 g/t gold from 310m and 2m @ 27.1g/t gold from 315m.
SPWRC080 2m @ 50.5 g/t gold from 338m.
SPWRC081 4m @ 63.1 g/t gold from 289m including 3m @ 83.7 g/t gold from 289m.Penny North Plan View

Now compare this to MEI:



And below current drill results from maiden program:



Note: the bonanza grades are generally higher for MEI compared to SPX and our larger intercepts are thicker. Both deposits are narrow high grade. MEI in fact had the best intercept of any ASX company in September of 2019.




Now remember we also have Novo...the largest undrilled gold anomaly in the world, results pending.

Remember also you do not have to have large width intercepts to have significant gold deposits. The deposits below are all narrow width and high grade.

-Bendigo 30M ounces

-Norseman 8M ounces

-Obuasi 25M ounces

The world's biggest gold mines of the Witwatersrand have average reef thickness of less that a metre!

The thing about Novo is its shear size, probably the largest undrilled gold anomaly in the world of over 5 kilometres! Essentially this means that it doesn't matter whether this is a high grade/small widths or low grade/large width the thing is so big that if gold is there it does not matter about intercept size. And, then we have Juruena as well, already a sizeable JORC and with the potential to increase with gold found outside indicated("JUDD008 extends the high‐grade core of mineralisation outside the Indicated portion of the
Dona Maria Mineral Resource"; The high‐grade gold intercept in JUDD009 is significant as it confirms the Dona Maria structure, along with alteration and mineralisation continues all the way to the base of the current resource. JUDD009 is the deepest hole at Dona Maria and planning is underway to test below JUDD009 during the current drill program." -press here) and being tested at depth and growing with a possible porphyry copper deposit which could add value to the company in multiples!

"Gold‐Copper mineralisation at Crentes in JUDD010 raises the potential for additional gold‐rich porphyry discoveries across the entire Juruena project!" PRESS HERE

"The copper‐gold intercept of 54.25m @ 1.33g/t Au & 0.23% Cu [from 170.7m] is the first copper‐gold
mineralisation Meteoric have intersected and is the widest copper zone drilled so far on the project!This
porphyry style gold‐copper zone comprises a broad alteration zone cut by a stock‐work of quartz, pyrite,
chalcopyrite veins and disseminated sulphides and is substantially different geologically to the bonanza grade,
epithermal‐gold style mineralisation at Dona Maria."


Therefore, in my opinion considering our results so far, existing JORC, deposit comparison to SPX and comparing our MC to SPX our SP should be much higher while awaiting results with possibly a new gold discovery at Novo, increasing the JORC resource at Juruena and the potential for gold/copper rich porphyry deposits at Juruena.

Compared to MEI:

SPX's GOLD ANOMALY IS A POSTAGE STAMP! and it has a legal problem over ownership as well which further suppresses its SP; so you may speculate that its SP currently at 8.9c should be in the 9-10 range. Further, its market cap is 120.5.5 M and ours only 34.77 M....so this tells me that MEI is WAY UNDERVALUED and has WAY MORE ROOM TO GROW ITS SP ON POTENTIALLY A MUCH BIGGER RESOURCE!


In total you can see MEI is:

-way oversold

-very undervalued considering the bonanza grades already found this drilling program within and outside indicated zones.

-we are an explorer and therefore are in that phase of the mining cycle where exponential gains to the SP can occur just on results(see graph below), and I would expect if they make a significant gold discovery at Novo this will be a catalyst to put the rocket under the SP given we are in this exploration phase!

-Also if they find more gold outside indicated at Juruena which they already have this will increase the JORC which can further stimulate the SP.



AIMO


P.S.

Managing Director of MEI Dr. Andrew Tunks prediction of 10c by Christmas was based on the comparison to SPX, and it is up to the market to do this comparison to see we are at great value. The delay in drill results has not helped, and it has been unfortunate the unusual backlog of drilling results as documented in the announcements, the Christmas break, the skeleton staff(MEI is run on a shoe string-money is for what counts: DRILLING!) that has caused delays and thus caused the impatient to sell.