Firsova said: "21 Thumbs UP Ozwire for making me wrong and for...

Firsova said:

"21 Thumbs UP Ozwire for making me wrong and for the commentary MHM HAVE NOT missed any deadlines....
I suggest you DYOR on *The Geelong Plant deadlines; *The US plant time lines; *The African gold drilling; *The silica business; *The Tasmanian exploration results
OK I accept mining companies dont need to report by august 31 but surely you dont think MHM have not missed any deadlines"

Well let me make a couple of comments:

* I don't particularly care how many thumbs I get- sometimes I am positive about a stock = thumbs up; sometimes I am negative about a stock = thumbs down. So what!- my opinion is my opinion- it's only a popularity contest if you are an egotist.

*As for the Geelong Plant deadlines- I agree there has been overpromise/underdeliver here. The proof will be in the pudding- either the technology works or it doesn't- I used to say that I doubted that the Directors were lying about the technology and the projections - NOW I am prepared to concede that there were exaggerations and wishful thinking (one for you!!)

[This reminds me of another stock I have been in - PPY- Papyrus Technology - which was going to use a 'spiral lathe veneering' process similar to that used in timber but using banana tree trunks (an unused waste resource) to produce PAPER which was going to revolutionise the paper industry, The inventor was the MD and always promised the world but in the end it DIDN'T WORK. They are still coming up with increasingly fanciful schemes to keep the balloon afloat- such as palletts made of banana fluff. I guess we can all be true believers at some stage!!]

However I also maintain (and continue to) that a technology like MHM's that claims to solve a problem that the best minds in the industry have failed to solve has enormous potential. I am still prepared, based on recent comms, to give them the benefit of the doubt that the technology still works. Time will tell- that's what risk is all about!!

* The African Gold Drilling: I'm not sure why this is STILL an issue for you. From my recall there were a few drill intervals at a gram or two gold per tonne reported. There may have been optimism about the tenements expressed initially, but eventually the results were mediocre; the location was in another continent (expensive); hence I applaud them for moving on and getting rid of it. Pretty much every explorer I can think of has had disappointments. If it was so easy to get a bonanza there would be no penny dreadfuls!

* The silica business:

This is a huge undertaking that may or may not come to fruition. There is considerable progress happening now. Get over it. It will take a LOT of effort to get off the ground- I don't think anyone here regards it as the main game.

* The Tasmanian exploration results:

This is in the same boat as the African tenements. Compare MHM with BSM which is unable to make a go of

*bonanza grade silver lead zinc etc and
*the acquisition of a '50 million dollar' processing plant (Hellyer) from INT for 4 million dollar or so.

Have a look at their 12 month share price chart. I'm very pleased that MHM have given up their tenements with our comparatively narrow moderate grade shoots. There may have been potential but the drilling didn't support same. See comments on Africa. That's exploration risk......

* "but surely you dont think MHM have not missed any deadlines"

Well as someone else pointed out - you have taken my comments seriously out of context. I was commenting on your erroneous contention that MHM play fast and loose with reporting deadlines.

I will agree that MHM timelines have streettttttttttched.

I still am happy to punt that the technology is a ground-breaker and nobody else can match it yet.....

I still say that delays are not necessarily a bad thing- if it was so easy top crack the slag / dross it would already have been done!!!

I remain suspicious that I am revisiting Papyrus Technology nightmare but the new Thick regime gives me a little confidence that we are heading ion the right direction.

Firsova- what I won't do is flipflop back and forth on a weekly basis like you- I've got better things to worry about!!!!!!