autumn rally, page-12

Hi Paul,

I said "Because I'm waiting to see if there is an opportunity to buy back in again."

I didn't say "at a lower price".

I sold at between 13.5c and 9.8c. I would be happier to buy back at 7c or 8c with certainty of profit levels, rather than 3.9c with the uncertainty.

When I bought last time at 3.7c it was in the belief that they had sorted out the production problems that had beset MMN with their EWW extraction, both by improving the crushing and replacing the EWW with the Merrill Crowe process. When I sold it was because it appeared that they hadn't. Now, it is clear that they haven't, otherwise they'd still be looking at 1.5 to 2.0Moz/yr, rather than 1.0 to 1.2Moz.

Still not profitable. CR soon. Glad your profits increased again today. Good luck.