Ann: Initial Director's Interest Notice - Bruce Goulds, page-8

This is massively undervalued. IMO largely due to media perceptions of the Rohinga crisis. Without entering into the merits of those arguments, I would note that China imprisons millions (whole cultures) and invades countries (Tibet for starters), Australia has a very mixed history with its earlier occupants. The US shoots Negroes at some stupid accelerated rate when compared to whites, Indonesians wipe out west Papuans and the story goes on for many of the countries on this planet. Us humans are often not very nice regardless of our nationality, race or religion.

IMO, there has been an irrational approach by some towards Myanmar. So, bringing it back to mining; The Bawdwin deposit is one of the best on the planet in each of lead, zinc and silver. It may yet surprise with copper, nickel and cobalt. It will undoubtedly grow as exploration continues, probably for decades, but in the meantime the MYL share price has been a fraction of the projects NPV. Should be up around 20c minimum at the moment and higher post PFS.

They have a tier one asset, expressions of interest to finance it and further upside. In the meantime they operate in a jurisdiction that legislatively recognises '...the guaranteed right of production for investors who have carried out prior exploration and feasibility'. Even Adani might like that one (not that I'm stating my position on coal mining, just the importance of legislatively guaranteed tenure).

Then there is the recent addition to MYL board.

Then we have partners who have been in the business for decades inside Myanmar.

Have a look at https://www.national-infra.com/ which is the owner of one of our local partners. 

PS Last Argonaut valuation I saw was 40-45c then a 50% country discount. Having spent a week there, including Northern Shan State I'd say call that 50% the 'they will wake up to the opportunity in time factor' as what I experienced was an amazing country, a remarkable deposit and people wanting to get on with it, which they were.

PPS I've also noticed MYL are VERY good at keeping to their timetables. Bring on end of Q1.