mmn knockers where are you nc, page-4

Hi Henrikc,

Granted production has taken years to start, but since I hold MMN I'm glad they didn't start selling their silvver whaen it was A$7/oz.

They silver that wasn't sold is now just starting to be produced when its price is A$16 +/oz ... and increasing.

I appreciate that many thousands of extra shares have been created and sold over those years, effectively diluting individual share value, but again the increase in shares has certainly been considerable less than 16/7 x original.

Additionally, I do realise that the shares were created and sold to fund operations and expenses (including directors') over that time and that need not have been necessary if the mine had generated cash flow much earlier ..... but again I think that the share creation was by far a better option than forward selling production (at the much lower silver price that then prevailed).

Obviously you feel strongly about the success or otherwise of Macmin management. Fair enough, but you do seem to keep pushing that one line - perhaps a little to much for mine.

Anyway,

just some thoughts.

dub