MINMET PLC FTSE MNT

Abbo,

You need to realise I was being a little ironic in my "fortunately the FSA agree with me" - but there was nothing misleading in my post; nor the fact that I may report all deliberate mistruths about Minmet to the FSA. I will be more vigilant about harmful postings; but anyone who has followed my postings in the past will know that I correct untrue positive postings if they occur - which is now infrequent.

I personally am just about at break even in Minmet - small loss. Since my first buy I have always posted to reflect my enthusiasm for this excellent company - which I believe has the best risk/reward ratio in the London market - and, as I am coming to believe, in the Canadian market too - which has some 2,000 explorers and miners on it.

I did think it was a good buy at 30p. I still think it would have been, although it is obviously a better buy at 12p!

Clearly matters have not proceeded as quickly as I thought they would. I think many other investors in the natural resources sector, in many other companies, have found this out too. The process of discovery of potential mineral ores; the measurement of the size [and hence weight] of the ore bodies; the establishment of grades; and then the interminable delays for license and consents; all take much longer than I had hoped.

However I still believe that this share WILL produce very good returns for its investors - far more than the mere 10-bagger you mention. However I do acknowledge that it has not yet done so, and although I believe this will soon change experience has taught me that "soon" in mining terms does not have quite the same meaning it has in some other fields. [although, for example, pharmacueticals seem to be even slower than mining].

Does not the recently-announced discovery of a world-class zinc deposit give you cause to wonder whether Minmet may not come through yet?

We will be starting to mine gold in the near future (yes, "soon" again] and the diamond sampling programme is imminent. NOTHING that we know of is going wrong - though that can hardly last.

I would suggest you think hard about this one before missing the current opportunity - which I think will not be available for very long.

A happy and prosperous New Year to you. Richard Dawson [Goatherd]