MINMET PLC FTSE MNT

We all do, Gold Coast, we all do.

But that's how it is, sad to say.

If you want to see some REALLY dissatisfied shareholders, have a look at CMR! Earlier this year, David Bramhill promised a statement by the end of Q4 (silly man) and everyone is up in arms because it did not (predictably) arrive by New Year's Eve.

We do not know a huge amount about what Minmet are doing - especially the day to day detail - but believe you me, Cambridge tell their shareholders far, far less.

At least we know that:

1. The Sungem initial drilling has been successful, and the remaining four core assays will come pretty soon. Also the site is far bigger than the original gossan measurements given in the Annual Report, and is open to the North and South, showing much more potential.

2. The diamond bulk sampling licence will arrive just as soon as the environment wallahs get around to dealing with the paperwork. The bulk sampling equipment is bought, paid for, and just sitting about waiting to be assembled and to start work. Meanwhile, garimpeiros are continuing to find decent diamonds on Minmet's claim area - at least until that licence arrives, when they will have to stop gravelling about.

3. The mining equipment is being assembled on the first site to be dug up at Cangas, and a consultant has drawn up the necessary processing flow diagrams etc etc. I do not know the timescale for the startup of small scale trial mining, but we should see something by Easter, surely?

4. Work already carried out at Mara Rosa is bound to have given them drill targets, and I daresay they will start drilling before much longer. It is in Minmet's interests to progress this project fairly quickly.

5. The samples taken from a continuous line of previously-worked pits in the Cangas district, at 90 degrees to strike, are being processed and will be assayed in due course. It may be possible to calculate an average grade from these samples which might apply to similar E-W transverse structures up and down the strike. This would drastically shorten the time required to identify additional trial mining sites.

6. The Hall/Redwood team are working away like beavers at a variety of projects, most of which we know nothing - but that will change as time passes and they make reportable progress.

7. And finally, whatever the status of Castromil's mining licence, the Valonga-Gondamar prospect is looking amazingly 'prospective'. The eastern arm of the anticline in particular is very, very promising, especially if its similarity to the New Bendigo becomes proven....