price drop, page-209

I am glad you got a responce my view on the company still stands.

Money: We are investing in a MINING EXPLORER. If Newleyine does not work we will BURN cash and fast. It will quickly fo from 12-8-5m, as we acquire new tenaments, perform geological surveys and soil samples. If we continue to explore Newlyeine drilling is expensive, very expensive. Cash cannot be an explorers best asset. It must be management and the land it is exploring.

MAN has lost institutions, Sophs, and most importantly retails, millions and millions. GGetting future funding without a strong asset wil be hard. MANs best way forward at that point may be a takeover bid...

communication: Enough has been said about communication. MAN are poor communicators which may be fine, but the big issue from that is fear and lack of courage. Holders want to know their money is in good hands and fear of bad management will lead to selling.

S3: Many rightups, about S3. They are in essence paid promoters of stock. If MAN is so good, why are the burning that hard earned cash on promotion.

results and assays: Lets pretend that everyone who has given valid geological evidence the assays will be poor is wrong (based on mineral composition, depth, height and position of the deposit etc). Lets just say they are great! How many people will be desperate to sell the news, after losing so much money. The indication of 28c -5.7c is already there A LOT! The shareprice may take years to get above 10c, and there will be huge quantities of sellers all the way along. And this is assuming no institutions dump. Pretending good results will mean no more sellers and the big SP increase of before is foolish. 3 months ago posters were saying MAN would hit 30-40c maybe even 60. Now people dream of 9c. This is a grind short and long term.

fair value: My personal fair value which I have see repeated is 4-5c.
Cash: 15mil
management sentiment: 0-1mil
Berinka: 3-5mil
Newleyine: 0-5mil.

Gives a best case scenario of 20-25mil Market CAP, around 4-5c. This is IMO fair value. Share price is currently above this on sentiment of assays imo. If assays are bad I would expect this to be the result. Berinka is not a suitable backup for MAN. there are better gold explorers with smaller MCs and higher historical results. There are hundreds many of which are on the ASX. Without Newlyeine I would fairly value MAN at 4-5c and that would align with histroical support/resistance for the company around that time.


Question to ask yourself.
Did you invest in MAN for the cash?
Would you invest in an explorer on cash alone?
Would you in a credit raise, invest in a company that lost you millions?
Do you buy a product that you dident like twice?

I am not here to "downramp" I've been here for a while. But holders should be aware of what they are buying. I have and continue to have serious concerns about this company. I am worried that Management are here for the paycheck and their "slow" style is simply an excuse to milk MAN for all its worthh before an apology and closure.

I wish all holders good luck. This is all in my own opinion, please do your own research and this is not financial advice.