I have just viewed the Investor Presentation and read the...

I have just viewed the Investor Presentation and read the accompanying posts and for what it's worth here is my take of things to date.

1. Question of political instability seems to have largely been overcome.Having said that anything could still happen but then again how stable is the Australian govt at present - one election away from oblivion.

2.IMO Shambesi will prove to be one of the cheapest gold mines anywhere. From what I have heard further drilling is underway at Obdilla and I expect the news from there to be positive. With further exploration to come I feel there is much, much more gold to be found.

3. Management has proven itself to be more than capable.(Look at the recent JV with CVR and the low cash burn of the company.) Also they are approachable to answer any questions. This is in itself a massive positive compared to some other companies.

4.Share price. I can remeber the steady decline from 25c to sub 10c. All the time my broker kept saying the price was ridiculously cheap so keep on topping up. More importantly to me he was and none of his clients were selling . Some 8-10 weeks later and the SP has doubled and IMO will continue to head north. Recent increases I feel will pale in comparision once punters realise just how good a thing MSR really is.

5.Barring some unforseen disaster the price of gold must increase as the Yanks keep on printing money.(If the proverbial does hit the fan then why worry as everything will end up pear-shaped.)

6. Compare with other small cap goldies. Firmly believing in point 5 I recently decided to top up on my gold shareholdings. Out of my holdings I reduced the choice to what I considered to be the best three - MYG, PXG and MSR. I found little between them except for one category.. MSR has only 228 million shares issued with over half held by the top 20 shareholders. They were cheaper than PXG but dearer than MYG, however MYG has a much larger number of shares and options in circulation. Hence in the end I felt MSR offered greatest value for money spent with the best likelihood of achieving substantial monetary gain for a relatively modest output. MSR is now my 2nd biggest shareholding in small cap goldies.

I admit I have been fairly positive in my posts over some time regarding MSR and remain so. After reading the far more technical posts of others,doing further research and asking questions I see little reason to change my opinion.

In a few weeks today's price will be cheap. Patience will be rewarded.

Pictorella