what is in storeee for mnm this coming week, page-32

AJ

Well written post.

Z at the AGM enquired "why the SP not go up?".

MB took the question and answered it with:

1) The market is currently deflated and spec stocks have been hit hard.

2) The Board are just as puzzled as anyone as to why the news of the BM 50/50 JV was not accepted by the market on more positive terms.

However, he also stated that FT were "sticky", which as we now know and I believe considering the recent SI placement, IK now knows too that FT are not that "sticky".

Simply put, if you have concerns, then by all means drop IK an email - he will divulge what he can I'm sure.

If people keep selling, then buyers can be patient and let the SP come to them.

Looking at the depth - a $50K buy could see the SP up past 7c easily. However, as we can see from the churn, $50K and a lot more is seeing the SP hover around the 6c mark.

Having said the above, an update from management on where the projects are currently at would be more than timely and welcomed by all SHs.

My feel is that Mar/Apr/May will bring a lot more news - until then it is a matter of patience for LTers.

Could very well be that buyers have gone elsewhere and will return in a few months knowing that news will be imminent on MtM and GC...buyers know that MNM will ann when exploration kicks off again on either project and can buy shares on speculation then.

Of course, MNM is high risk with no cash flow and many are off high risk/no cashflow stocks right now.

A positive AJ - if you want one - is that IK has not taken up the whole $10 mill FT facility which would indicate that he is aware what FT are doing and trying to avoid using that facility unless there was significant news to bolster the SP before drawing on it again.

Imagine what some other management teams may do having that sort of cash available - draw it down and give themselves all a payrise!

Cheers K