update due thursday., page-4

Hi teamsky

Looks like Bell were probably a day early. The exciting news is over at SIR which has demonstrated what can happen in the exploration arena. Can something similar happen with MEP .... the answer of course is yes....the MEP team have done it before at Prominent Hill.....it's trajectory was even faster, higher, longer (excuse me but the Olympics are due start) and I believe the prospects in Cloncurry are even better.

I keep getting drawn to the recent announcements from MEP relating to the Cotswold and Cormorant activities. The team are chasing a halo of copper at Cormorant and after considering all the previous testing these guys reckon they have got it well and truly targetted....and who would doubt them.

Whilst the focus is on the Cormorant target I reckon that the Cotswold target is just as exciting. The major magnetic alteration gives the indication of a very major body. Either one or other of Cormorant or Cotswold targets will see another stellar performance of the SP but both would make the mind boggle.

What does this all mean to the future SP of MEP? Given that we have no idea of the volumes of material my guess is based purely on speculation and what if, with no real technical qualification.
MEP have no cash problems, they are well managed and ensured that they have money in the bank. The shares are currently well down on what they should be and quite honestly 30cents would be a more realistic current base price and is what I would use to estimate the future target price.

If only one of the the C Cups ( can't resist the pun because it makes mining sound more sexy) delivers I would look at something around $1.80 to $2.00 but if both see their cups over flowing the a target of around $2.50 to $3.00 would be the go. Remember the miner who buys in will have to send a motza to develop but the infrastructure in the region is in place.
DYOR as this is pure crystal ball gazing but this team have the track record and should be ignored at your peril.

Is this ramping? I don't think so....just banging the drum for a much ignored prospect. I will leave the ramping to Gina, Twiggy and the Big Fella.

Looking forward to the quarterly with interest.

kippax