when directors attack, page-2

Yes, I have to admit it is very dissapointing to see the directors sell out of their own company, especially when the supposed upside is just around the corner! For interest, I have listed below the last two annual report holdings of the top two directors and a third comparison of what they hold today and you will note a continuous sell down over the last 2.5 years.

Name 06/04 06/05 11/05

RD Mcneil 10.5M 10.3M 6.5M
D McNeil 4.22M 4.57M 4M

From the above figures, Bob is full of crap with his statement that he has supported the MMN share price. I, while not holding as many shares have consistantly supported MMN and have been increasing my holdings. You can look at the reduction by the directors in one of two ways;

1. No confidence in the company, their own ability or the outlook for silver; or

2. They are diversifying as mentioned and their offloading of the number of shares they have sold since 30/6/05 have been absorbed into a rising share price is thus very bullish.

I mentioned in June that I spoke to Bob at the WA roadshow and he to me had no conviction in the outlook of the silver price. He talked it up but had no fire in the eyes. A bit like a punch drunk boxer who has taken too many hits, in Bobs case I think he had been expecting silver to boom for so long with little results that he had lost a lot of his convictions.

I am a mega silver bull, and those that read me posts would be aware of this! I have stated that I believe that silver will hit US$10 by 31/01/06. I still believe this!

People are investing in MMN for the wrong reasons if they do not believe that silver will be substantially higher in 2006. If you do not believe in silver, sell out today and let the real silver bulls buy the shares.

Just for interest sakes I have listed below the gains made by people supporting the July 05 rights issue and the sep 05 option conversions;

July 05 72% gain in 4 months

Sep 05 41% gain in 2 months

The bottom line is that only the true silver bulls would have supported these issues. The rest of you were too busy winging and not doing your homework. It is unfortunate that MMN investors dumped yesterday because of the directors notices because I believe that we are possibly only weeks away from a silver price breakout. The selling by directors and shareholders has been absorbed and the weekly chart looks great. Volume for this week will come in around last weeks record volume and the share price should close up for the week.

If i didn't know better, I would swear that the actions made by the MMN shareholders and directors over the past two weeks was to cap the price because that's what you have done! But for the dumping of shares, 17c would have been smashed and we would be running at the 20s.

All I can say is that when the POS breaks above $8.5 the moon shot that results from this will leave most silver speculators in awe. We're probably only weeks away from lift off!

And yes, the mongrel flee bitten dog called MMN will run hardest. The Melbourne cup stallion BSG will out perform over the long term but my moneys on the flee bitten mongrel in this next leg of the silver bull!

Cheers,

Phillw