prospects, action, and our struggling sp, page-2

Morning UnS

"Good prospects are one thing, but if there is no action then the share price will do nothing..."

...but that's exactly what MNM are doing...taking action...raising capital to fund projects...to in turn realise the potential of these projects and increase shareholder return.

Whilst I won't speculate as to what is transpiring at BM and Exergen JV, I'm sure that if there was anything negative re the progress it would have been reported to the market. Of course, your theory could very well be right and, again, you have every right to speculate/vent/etc.

As alluded to in my previous post - the $12M MC currently (or 6c per share) is justified by the current Granite Castle JORC. If BM or JV was a problem/progressing slowly, then does it not make sense to then spend some funds to drill at Granite Castle (and let's not forget Charters Towers) to beef up JORC and subsequently increase the share price?

Quite frankly, I am actually more comfortable with management redirecting some funds into these gold/silver projects to diversify risk, especially with the bullish sentiment on gold. No point having gold sitting there knowing there is more in the ground and gold at all time highs. If anything, I would say that management not looking into these projects right now would not be in the best interests of SH's.

Just consider the position MNM could be in if they prove up GC to be 10x JORC it is currently sitting at (remember $12M MC is based on 600m shear, there is 6,500 m shears to drill/prospect). Even it is 5x, then share price would be 30c...would anyone be complaining that management spent $400K (it could cost more to increase current JORC 5x warranted) to increase MC to $60M?

Additionally, if this was the case, it also enables management the option to sell off, JV or other these projects, to then fund BM/Exergen project and not raise (or raise so much) capital through further SH dilution.

I believe a sensible approach from MNM management.

For those that a quick to (dare I say it) dis"mantle" MNM management/directors because the share price is languishing, JV not signed, MtM not resolved, etc...then there is a very cheap share in a similar brown coal tech space who would love your money right now...and they are only focussing on that as they have nothing else!

One of the reasons I like MNM is not only the upside with the brown coal/CHTD technology potential, but we also other projects to fall into if that (and hopefully it wont) not come off.

All in all, great move MNM.

Cheers K