I try to avoid making long winded posts however I feel that I...

I try to avoid making long winded posts however I feel that I would like to share some of my thoughts and experience in relation to this type of stock ....

Well firstly ... we all know MZM haven't struck gold yet, however that's actually a positive not a negative, because if they did then you wouldn't be able to still buy them at the current price ($0.22) now would you? Probably more like $1.00 plus.

MZM are tightly held and illiquid. With 70m shares on issue, 86% of its shares are held by just 69 investors each with a minimum of 100,000 shares and an average of 233,000 shares. The top 20 control 69%.

The current market cap of $14m includes about $8m cash and shares, valuing their tenements at just $6m, and nowadays some company shells alone can be almost worth that. So not much downside risk IMO for a company drilling in one of the most exciting and prospective regions in Australia within a stone's throw from GOR's Gruyere discovery.

I bought GOR less than three years ago, when their market cap was about $32m including $8.8m cash and a high grade but uneconomic discovery at Central Bore and there were few buyers. Now the market cap is $365m.

MZM are currently drilling near Gruyere, in Yamarna at Jatz. First round results from Jatz were actually pretty good and so I am expecting more positive news from Jatz over the next month.

So with a free float of less than 10m shares spread across 573 share holders each with an average of 17,000 shares worth about $3,400, it wouldn't take much to move these. Even if just half of these small holders decided to double their holding they would be a dollar plus.

Take BRB for example, another company I have been following for the last few years due to their tenements adjacent to the west of Gruyere. Their structure and situation is very similar to MZM. Illiquid and tightly held, last year they also had 70m shares with 89% held by top 20.

Early last year they were trading at about $0.07 but only had about $1.5m cash with a market cap of about $5m, valuing their ground at about $3.5m. BRB still have very little cash after completing a recent placement at $0.04 but today they traded as high as $0.36 on recent drilling results (not the expected Yamarna ground however, but not bad for a company with very little cash)

In April last year a BRB holder wanted out and there were 5m shares placed on the market at $0.025 which looked like a bargain but there were no buyers. I was ready to take the lot, but hesitated for an hour or two while trying to work out why they were selling and of course in the process, missed the opportunity to 12 bag in 10 months.

My point is .... I made a mistake by not being quicker to take up those BRB shares. You should never underestimate the potential of a small tightly held and cashed up stock like MZM. Now is the time to buy, low downside if nothing happens, but if you wait until they hit gold then it's too late.

Just my thoughts. I am biased because I have shares in this company, so do your own research.