reply from jl about the quarterly, page-7

What an excellent thread!

Firstly, QuickSilver you deserve a beer for your efforts, shame you're not in Wellington or I would buy you one!

Secondly, I too am surprised that John Langford would take the time to monitor HotCopper, but having said that, if I was in John's shoes I would probably do the same thing.

We all have the same target in sight - full production and a maximisation of shareholder value, and I too was starting to question whether MUN had its head screwed on considering production targets have been missed and the market has dumped the stock for that.

My main concern now is the realiability of forecasting and how much creditibility can be given. Estimates were missed near production start up in June 2008 and again now. It does not impress me and I am being straight up about that.

I believe production targets are crucial for MUN to gain the confidence of the market as a whole. The other is an affirmation that no capital dilution will occur with with the developments of the other assets...

All in all, I am still in for the long term. 2013 can't come quick enough. Lets hope future announcements surprise to the upside production-wise that is, then my confidence will be restored...

A final issue for John Langford - why are future expenses being incurred or expensed in the current quarterly. This only has the effect of reducing profit. I can only assume that this expenditure relates to the current reporting Year End for MUN, however, if it is an expense which occurrs outside the Financial reporting period for MUN, surely the expense should be capitalized in the current Year End reporting period and expensed in the following year end period where the expense would actually occur... that is my understading of GAAP (Generally Accepted Accounting Principles). I'd like clarification on this issue too








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age flucuation would be enoughindication