RE: RE: What is the Investment Thesis Very sensible, post, Cliff. the "preliminary so-called Ni43 101" is essentially useless, since the "meat"' of it is totally missing. No sensible investment decision can be made based on this info. As to the up-dated Ni 43 101 for Selinsing, this was due at year-end. Where is it ?? Hopefully it will be presented at the delayed Annual Meeting on Feb 26/13. As far as I am concerned, Mengapur should be put on the back burner until Selinsing has been expanded to say 80 to 100 koz of gold annualTy. Also the mineral reserve updates are crucial for the Selinsing expansion. Hopefully we get an opportunity to rid ourselves of Baldock and the Board when voting. The same should be done for any PP in the short to medium term at least (2 years sound about right). This way we at least stand a chance of gettinga morre favourable valuation from the markets. I would hope for at least 1.50 or there abouts instead of being stuck in the low 0.40's. And as far as the pre PP and mengapur aquisitionis concerned the valuation then was in the low 0.60's (I know so since I bought in then) and would likely by now be over 1.0 $ since Selinsing already proved growing production and extremely high profitability. The market discounted MMY mostly due to very low Selimnsing reserves of only approx 5y of mining. That's why it is so imp[ortant to present an up-dated NI 43-101 on Selinsing, hopefully with considerably increased ore reserves. What about the adjacent land parcels? How much ore has been ascertained there?
Mengapur should only be even considered after all essential facts are known. Even then a joint venture with an organisation with specific expertise in low grade base metal mining, milling and concentration through flotation should be found as a joint venture partner (if the mineral deposit even warrants it, of which I am less than certain).
My 2c worth, Wolf E (former Falconbridge employee)