Metals Exploration - Positive Rewsuls 30 June 2005

Well in fact I do think investors in International Moly should pack up and go home and I have met and talked to the CEO as well as the investors in them at Galahad gold. But thats because the capex is too high and they have to do things like build a huge tinnel through a mountain and the mine is in the middle of nowhere and their break even is at $8 moly and there are better plays out there.

I put plenty of vaue on Moly, but not $30/lb.

There are simply loads of opencast mines with 30-40m at a few grammes a tonne. Both Oxus and Avocet (for example EDF 165 68m at 2.5g/t at Effendi) for example have drilled recently and hit tens of metres at 2-6g/t.

Good luck Milo.