Fellow shareholders and other interested parties,I attended...

Fellow shareholders and other interested parties,

I attended MRF's presentation at the Proactive Investors seminar in Sydney yesterday. Appeared to be lots of interest in the stock amongst the capacity audience.

Presentation was given by Craig McGuckin. Whilst the presentation was relatively short, it covered off on most issues outlined in the announcement to the market yesterday morning.

He confirmed that the drill equipment will arrive on site today which was good to hear.

There were a few sceptics in the audience but their questions were addressed fairly well by Craig. One particular issue centered on the increase in the number of graphite explorers/miners and how this may lead to an oversupply of the product in years to come. Craig pointed out that nearly all other graphite explorers and producers are involved in the exploration and mining of flake graphite whereas MRF are searching for vein graphite which has only been found in Sri Lanka. Therefore, their resource (if successful) should be much easier to place and sell in the market due to the high grading.

Another attendee (who was geologist) asked about the width of the vein graphite they are searching for. Craig stated that the vein can range from a few centimetres to 1 metre in width. The geologist seemed suitably impressed.

He also re-iterated several times that they "know" the graphite is there and that they just need to develop the resource. The remnant graphite located in various dumps has been between 85-95% purity.

One final thing, it appears that management are really focused and committed towards ensuring that future exploration and mining operations are conducted safely. They have spent around six months training workers on safe mining practices. They also have several people on the ground with extensive experience (30 years or more) in graphite mining in Sri Lanka which is also good to hear.

I expect we'll start to hear some news shortly regarding the commencement of drilling (after set-up) and some initial results over the next 4-6 weeks. Interesting times.

DYOR

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