No, I'm not a geologist.
Yes, I am speculating.
Yes, I would be delighted to be proven wrong and for Newleyine to deliver the goods.
But where MAN currently stands right now:
- Their best bet (Newleyine) has shown potential (eg rock chips), but returned poor assay results. Drilling more holes in that specific location will require a very good case and that requires expert geologists involved
- From the info I have been able to collate, Jimmy doesn't have a proven track record. He was involved in a private company that explored gold at Berinka and MAN bought out that company, which really simply amounted to the said private company listing on the stock market. Happy for anyone to show me what success Jimmy has had
- The three-man board awarded Jimmy a $100k pay rise during the year. He is now earning more (or on par) than James Patterson, CEO of GBR. Also, the MAN board awarded themselves a large trance of options including Jimmy.
- The very low number of shares the board hold in proportion to the shares on offer. (Skin in the game says a lot about those involved eg walk the walk)
The main positive, and the reason why I am still holding (or waiting for a slight 1-2c rise in the SP before selling part of my holding) is the $16.5m cash in the bank which is more than what DEV has.
The 20c cash raise is going to bite MAN in the bum.
ALL IN MY VIEW.
PS RobThomas - god bless him - is rarely seen on the MAN forums compared to his excellent involvement prior to around the drilling (not assay) results.
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