MEI (ASX) MEI Fundamentals

Originally posted by speedyl ↑

Bumping this thread again as the drills will be turning very soon

I actually had dinner with our MD Andrew Tunks when he was in Sydney last night (He's in Sydney for another co he works for but back up here early next week for MEI). Was a very interesting dinner and Andrew is a great guy with many experiences. He is aware I post on HC and he said he sometimes looks through the threads here and knew a few names and I am posting with his permission. He is very keen to talk to shareholders and said anyone (big and small holders) can ring or email him any time.

Basically the big drop in the SP has been due to a few things
1. The advisor's converting their 1.1c options and then selling them out. Apparently they are done for that lot now and they cant convert the next bunch until the SP is over 8c for at least 20 days
2. When he came on board little exploration and no drill targets had been set on our tenements and they couldn't be done until recently due to the Canadian winter so lack of good news flow over the last 6 months
3. More recently a small Sydney fund who got into MEI last year when they acquired the Canadian assets has been selling out (that was why I was seeing the big sells appear each afternoon for the last few weeks). Although the amount they held would have been a top 20 they were setup through various nominee accounts so not showing as a substantial holding. They are now apparently out. I was told they had been selling alot of their small cap holdings not just MEI.

Now going forward.
Drilling is on target to commence, as per the previously announced timeline, next week and Tony M will be in Canada again.
Andrew is also back in Sydney next week to meet with brokers and some funds. He will also be doing another investor update video while he is here. He will be back in Canada a few weeks after that.
He told me that once the drilling starts we can expect a lot of continuous news flow during the drilling period and they will get assays out asap. Drilling will also be done during the Canadian winter this year as targets will be identified for each tenement before winter sets in. Although the historical's point to good grades, obviously they are based on samples only, he is very keen but optimistic based on the exploration and geophysics announced to date on what is in the ground but only the drill results will show how good (or bad) it really is.
He is also actively keeping an eye on BMR who are apparently drilling some of their prospects which are close to ours at the moment.

Exciting times coming for MEI!!

Expand

Thanks for sharing @speedyl !! Active management with a keen interest in keeping shareholders informed bodes well for the future. Just hoping we get the results out of the ground to match! Many thanks again.

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No.	Vol.	Price($)
3	104546	9.7¢

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104546

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9.8¢	2896	1

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5	1773521	0.011
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Price($)	Vol.	No.
0.012	620532	3
0.013	1998837	5
0.014	926384	7
0.015	670000	2
0.016	1179000	5

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(20min delay)
Last 9.8¢		Change 0.001(1.03%)		Mkt cap ! $222.2M

Open	High	Low	Value	Volume
9.8¢	10.3¢	9.7¢	$318.6K	3.224M

MEI Fundamentals, page-78

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MEI Fundamentals, page-78

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Buyers (Bids)

Sellers (Offers)