who is going to agm, page-25

Firstly RDU, you are welcome in camp MNM champ any time (all holders and non-holders are welsome), especially if posting logical and sensible posts ;o)

EB

We are aware that IK is progressing MtM plans.

We are also aware that IK feels comfortable having $1 million in the bank at any given time to cover contingencies and as a "safeguard". IK can easily run MNM for over a year on $1 mill as he did through the GFC.

IK, I'm sure, is also aware that the SP does not reflect true value for MNM and its assets at this time, but the company needs cash to continue activities.

Therefore, he will draw down smaller amounts to keep the bank balance at that $1 mill level whilst paying for admin costs/working capital.

Once the SP begins to show true value, then we may see a larger traunch taken at that time, but I would say that would be well into the teens.

I'm quite comfortable with these drawdowns as it indicates to me that projects are moving forward.

We are aware that Dirs and Consultants have taken fees in shares. We also know that admin costs are relatively low. Therefore, these drawdowns (whilst partially going towards admin costs), would be primarily for project advancement in one form or another.

I'm sure more will be revealed at the AGM for those attending.

Cheers K