I can't believe the value of MEP exploration assets when you...

I can't believe the value of MEP exploration assets when you deduct from the market cap the value of shares in listed companies and the cash it has in the bank. (refer last major presentation)

It also has a world class Kaolin deposit, which is in the testing phase. They have approx 20 million tonnes at say $450 to $500 a tonne (if you can believe the internet). I expect an offtake partner will be announced soon, for about 100,000 t a year.Gross revenue $15 -20 mill per annum.(est)

This will be a great earner, while they develop one of the other opportunities they have in the pipeline.

The management is very experienced and they have a great track record having found Prominent Hill. They are quiet achievers and don't oversell the prospects. Mutooroo looks a great opportunity as does the Cloncurry prospect.

I have purchased recently with an 18 month investment horizon.

Time will tell.