the inevitable recovery of mgy, page-23

Hi Warennie

As would be expected from a part time MD, the QR in essence says:

1. We have a legal issue with previous MD - why were the SHs not previously advised?

2. Due to potential Government problems there is a "risk that the Company may not be able to secure the grant or renewal of tenements on satisfactory terms" - a bold statement statement leaving SHs with the understanding that MGY could end up with 'nothing'

3. Most/all planned activities have slipped from times provided in the last QR - no explanations given.

For my sixpence, another Clayton's report and indicative of a company in trouble.

Ciao

R1