nidrac - what absolute drivel. You sounds like a naive lawyer,...

nidrac - what absolute drivel. You sounds like a naive lawyer, not a seasoned investor. Whilst I may have not outlined my decision making, I am an objective and rational investor, with a respectable track-record.


Quoting you:

"You said production is a while away without any basis or reasoning. That is misleading. "

Your biggest issue is that I am supposedly providing misleading information? Well how about this. I've been involved with the development of many resource projects over the years and I can definitely tell you that:
1 - a company that is still talking about doing a PFS,
2 - has 28 - 45m of overburden to remove, before reaching any RM in the pit,
3 - needs to build a whole bunch of infrastructure for a greenfield development,
4 - and has a track-record of not achieving milestones it has set for itself over many years
5 - and has taken an overpriced deal that was too good to be true.

Will probably mean, on a best-case scenario, MAK may start earning SOME money in 3 - 5 years. This is based on the conventional wisdom, the business-as-usual approach. There is no evidence that MAK is any more efficient than any other company, in fact arguments could be made to the contrary.

SO, when you say that I have made a "misleading statement", I suggest you review the last 5 years worth of MAK announcements and come back and report how well you think the company has performed. The market has called BS on the IHP and Wonarah for a long time, despite management's insistence that all is well.

I would suggest that it is not I who is misleading, but perhaps, the company itself. Suggesting production will commence in 12months time is laughable.