looking strong, page-13

Got the free to post, mods any problems please send me an e-mail:

My e-mail:
Hello,

According to your ASX announcement 26/05/11 - the MTT progress has started to determine if it was a commercial prospect was planned for completion within the next 2 months. It is now nearly 4 months later, has this work finished, has there been issues?
There is other notes of work to be done during this quarter, Windanya prospect prepared for drilling, Baden Powell prospect also states sampling and RC drilling late August 2011. Bullabulling Project has work also scheduled for completion by mid September. Are we expecting any updates or announcements or will everything be noted in the next quartlerly report?

Obviously market sentiment towards MKO is lacking as reflected in the stock price performance this year, I can understand this is not your fault as the whole economic climate is not looking so good. As an average investor though reading from your announcements and quarterly I have been expecting news that has not come.



His reply:

I don’t have a lot of time today to cover off on the non-MTT projects, other than to suggest you have another look at the Seven Seas project announcement. The team has put a lot of hours into pulling this data together, and personally, I think it is a substantial exploration project which deserves a bit of time and focus. We are a small team and we run tight, so we focus.



In regard to the MTT’s, we are currently going through the laborious process to achieve mining approval. This takes several months. We have been doing a lot of work on the environmental front, and looking at pit design.

I cannot comment on commercial negotiations with regard to mine development, haulage and milling, other than to say that they are ongoing.



We do take the view that commercial negotiations are running in parallel with the mining approval process, so investing the time to get the commercial aspects correct is not an opportunity cost to the company as the time line for mining approval is relatively inflexible.

At this time we see no reason that both MTT projects should prove less than profitable.



Kind Regards,

Michael M. Michael

B.A. B.Bus. AIMM MAICD

Chairman