what it means

You said

"I think MLI should provide a revised project update informing shareholders about future impacts. The most important issue to be focused now is the deposition site at Witfontein."

Talked to RR on just this and more to detail just what the effect of sale is on forward plan.

What came out on discussion of the figures is.

The sale price is about 67% of what the company would have recieved after 12 years....so its not a bad price after all.

Compaany will have about $20mil after sale ccompleted less ALL OUTSTANDINGS....

The deposition site will bring many major parties to the table....they need is just as much as Mintails.

There is capacity to treat ore from MLI subsidary West Wits very nearby.....a defined resource is possible near Xmas.....could lead to very early treatment of high grade surface ore.

Wergo could need about $15mil to get running.

Mintails owns the plant at Elsberg JV anf ERGO Jv...needs another CIL circuit for early treatment.

DRD is in box seat to make a cash bid for Mintails....this should not be forgotten

On current resource aT WERGO 322m tonne for 3.19 mil oz value at say $50oz plus 25mil lbs of U at say $2/lb....even disregarding any plant value we have a resource of around $300mil....at 3.0 cents this is not much to pay for hope of a better future.......if gold price goes past $1000us then MLI becomes a interesting target for acquisition.