nk,My post reads that MMN has $18M which as at 31 March 2008 in...

nk,

My post reads that MMN has $18M which as at 31 March 2008 in cash and investments (NGG, MAR,FNT) and I actually allowed for $4M cash burn to arrive at the current $14M! Obviously we do not want to get to the point of cashing in the NGG shares as they will be worth four times their current value in six months if NGG can achieve their 40K oz production target in the Dec quarter. MMN should have enough cash to see them through to the end of the December quarter assuming cash burn stays at $4M per quarter. Noting that the crusher will be on line along with the Merril crowe plant I expect that cash burn will be significantly less and once the leach pads are operating to spec I expect MMN to start turning a profit. Six months down the track MMN's imnvestments in NGG will be worth $30-40M. Talley Ho should prove at least 5M oz jorc resource this month. ATV and SVL when they ever decide to mine have to fund a feasibility and build a minesite and i can tell you now MMN's infrastructure could not be replaced for less than $30M at todays prices! Steel products rose by 25% for July on top of the average 10% per month increase for the three months leading up to July. ATV have 240M shares on issue at 14c and needs to raise CAD$70M to build their plant! What's that going to do to the share register? I would say that a placement which at current prices would result in the issue of 500M shares. That would take the shares on issue to 740M. How many shares on issue for MMN? A lot less than that! As for SVL I cannot see anything too exciting there. I'm sure that if thay find anything of value MMN can cash in some NGG shares and just buy them out after April 2009 when all the wnabe speccies are desperate for cash! As for tight registers they are double edged swords. When times are tough you cannot get out at any price especially if you accumulate more shares than the average daily volume. When it comes time to finance the project I'm sure the outstanding shares on issue will grow significantly. You are comparing two companies to MMN that have not raised the necessary capital to build their projects. Start doing comparisons when they have funded their projects and are debt free. As I said earlier, compare apples with apples!

This run in the PM sector will take us through to April and then we will see a correction. Most pundits believe it will be steep one lasting up to 18 months. Post the April top only those companies producing profits will escape significant falls in their share price. MMN by then will/should be mining 2.4M oz profitably well and truly by then. My prediction is that you will not see a MMN share price below the last high of 45c even during this correction. as for MMN under performing well you only have to look at CDE who will produce 40M oz of silver equivelent in 2010 which recently hit a three year low valuing the company at US$600M. Some stocks are being manipulated and I believe CDE (CXC) and MMN are two of them.