Metals Exploration - Positive Rewsuls 30 June 2005

If one takes Au at $505 per oz (31.1g per oz) and Mo at $30 per lb (453.6g per lb)then the following Gold equivalents are achieved:

MXD1 - 3.9 Au eq g/t over 30m
RUD1 - 5.58 Au Eq g/t over 36m
RUD4 - 5.65 Au Eq g/t over 44m

This averages out at 5.14 Au Eq g/t

A open cast mine averaging 5.14g/t over more than 30 m width is hugely profitable. The strip ratio is minimal remember.

30m times 400m times 2500m (the ore body volume) times 2.4 (the ore's specific gravity) equals a tonnage of 72m. At 5.14g/t Au eq, that is equivalent to 11.9m oz Au. Big Mine with $6bn of value

At £20m Mkt Cap this stock has only one way to go and it aint the direction that Bunti wants