Ann: Alliance Activity Concludes, page-4

Hi danboy8,

It's a bit disappointing. But I feel a few people might confuse the "MEP OZL Prom Hill Alliance" with the "MEP OZL Eloise JV". They are independent, and the JV has been the #1 value driver and priority since the exciting discovery a few months ago.

I've told others I find MEP to be ridiculously undervalued, for the combination of the quality of the management team and potential of this discovery. But because of the expected delay with the Monsoon Season in Queensland, the share price has drifted lower...almost as if the discovery never occurred!

There are many prospect generators listed in Canada that have a higher market cap/enterprise value, despite NO discoveries at all! This could drift lower...but it's just fantastic risk/reward here.

I am very biased as this continues to be my largest position. But really want to emphasize that while disappointing, the conclusion of the Alliance in the Prom Hill area really should have no bearing on the value of the company at this stage. And as something I hope to see soon: progress with the Nickel projects in WA. I think these are undervalued by the market, and I'm expecting to see some news flow in the coming weeks (I may contact management soon to confirm this).

Cheers,

MBG