MLX v SRZ, page-4

Personally I don't think the SRZ or the trucking ore option is in play as Ringrose is increasing our short-mid term inventory. The topic of MLX obtaining Heemskirk has been brought up, discussed & dismissed quite a few times by the various resident MLX experts. Tin price, insufficient resources & lack of funding has limited SRZ's growth. The following is my opinion:

# Even though MLX had placed a couple of "low ball" bids over time on SRZ, I always thought there was a benefit in expanding into a new operation & cutting the umbilical cord / having another independent income stream in their field of expertise. Several months ago, when I contacted Brett, he dismissed this as a current possibility. A few posters suggest he always holds the cards close to his chest so it is hard to predict what the BOD are thinking besides what is reported. I personally think they are "gun shy" after the Nifty episode, happy to collect their entitlements without too much risk & as suggested by many, controlled by larger shareholders, other entities?,etc. They are in a very good position with current cash levels & have a lot of good further exploration potential.

# SRZ has always had very good prospectivity on it's tenements & just needed to firm up about 15 years of production.The whole corridor including VMS's Mt Lindsey (for sale?) are mineralised & just need further exploration. Tarkine is an issue with Mt Lindsey. Avebury was a good possibility when I last contacted SRZ as it can be modified for tin & only 8 km's away. They were evaluating possibilities of old & new ATM. The adding of capital through substantial investors gives promise that they would want a decent return & maybe looking for an independent operation.

For me, I hold both stocks & happy for tin to be in the spotlight with MLX's bank balance building very nicely. MLX is still the stated "grand old lady that still performs" & SRZ still needs a lot to go in it's favour for it to be successful in it's own right - heading in the right direction ATM. Very happy to see each stock pursue its own destiny with tin in the spotlight!!!