Thanks for checking out my video. I'm surprised by the subdued reaction to what I consider 'very good' news today. Anyone following the trading saw much higher volumes a week or two ago, before these assays were known. While I guess someone wants out (as mentioned by another poster), this continues to be a great time to accumulate for larger buyers.
Masanga - you are correct, TAR was one of the first ASX stocks I was excited about. However, I was pretty upset with the change of strategy and poor communication related to that. I didn't do well in that one. Since then, have had much more success with ASX stocks. Still not sure why MEP is under-the-radar. But again, opportune time for accumulation if people are new to the story.
I have some quick notes on this NR. Please keep in mind I haven't thoroughly researched or talked to anyone much more knowledgeable than I am yet (like my broker):
-D14 disappointing, just to get that out of the way. First hole that seems to have missed sulphides. I imagine J3 still has potential, but will be secondary focus when drilling resumes in a few months. Hey, can't expect every hole to hit at Jericho!
-I really like D08-J1, with 21m @ 0.82% copper, 0.25 g/t gold. I am thinking this combination of width/grade may lead to possibility of an open pit. Now I'm really interested in D12-J1 (assays within 3 weeks), which had a great description in the AGM powerpoint, and might have similar or better grades based on description of the core. I am guessing the market just isn't thinking about this right now.
-While D09-J1 is the widest intersection, this looks smeared to me...perhaps it would still work as part of an open pit even with the very low grades between the 2 high-grade intersections?
But what interests me more is the 8.4m @ 2.78% copper, 0.66 g/t gold. I am thinking this is a great intersection for underground mining. Will need help to interpret this. But for now, I am happy to see that width/grade as a good example for underground mining.
-The J2 intersections are skinny (at least for a good grade at those depths). Will need to ask about this as well, but not as interesting as J1 right now.
Overall, these have somewhat exceeded my expectations, and I consider this a 'very good' NR, even with the possible negatives I mentioned above. I still think MEP should be trading 50-100% higher than it is immediately...but I am obviously biased ,and there just don't seem to be enough people paying attention yet.
Really looking forward to the next results, and I'll keep trying to attract new people to the MEP story.
Cheers,
MBG
MEP Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
