Todays closeing price, page-58

Meridian are acting in their own best interests however they are highly connected. They have a good idea what is happening over the border from their Hong Kong offices. I will be very surprised if they are intending to be long term holders.

Hope I am wrong because I have always intended to hold through production of SNE. My hope is that PE continues on till 2021. I continue with my view that PE is all about muddying the waters while CN and the team build value. They want their options to be worth real money, not $0.25, and that can only happen with a production ready asset, plus blue sky, and a rising OP.

Will ask around in Honkers/China next week but do not expect any answers

MMM