Bencro Bencro, Since you brought up MTB lets draw comparison. To moo. MTB has a good portfolio of properties and undertakes JV's with various partners to mitigate exploration costs. They have even proven up significant resources yet the stock is in the tank.....why? My opinion - Management! Obviously the quality of J.V partner can create some shareholder value but the reality is it's what's in the land. I neglected to do proper due diligence on MTB MGT and while I still like their properties I would not invest a penny more in MTB until there is a change in MGT or mgt proves itself How do majors operate in the Gold sector? They usually wait for juniors to prove up resources before they take a meaningful position.The exploration work conducted to date by moo is not strong enough to attract and secure a serious and well funded JV partner. This is a fact.....proven by the failed strategy to have Macqurie market the property and Moo's inability to ink a deal since essentially listing the property For Sale. It is apparent MOO's strategy is to let the industry create interest in the prospectivity of hamburg area in hopes of attracting a well funded partner. Guess what... It's not working...oh yeah...and what about the failed spin off attempt....another failed strategy to attract investors in something that hasn't had enough exploration to attract investors. Disclaimer: I still hold a small position in MOO but will continue to post with integrity.