The institutions that took the placement is not looking at 10c now. When they paid 20c for their shares, they were hoping for a target at $2 or more, or at least $1 per share for the risks they took and they were sold on the potential of MAN and the evidence to date then mainly on Rock sampling results and the electro magnetic survey together with the SIMILARITY of ultramafic surface with Julimar.
Allchurch should reconsidered his strategy of just doing another hole for the purpose of analysing the results before making his next move. With the $17.5 million of funds in the bank, he should immediately plan to use $2 million th dig many more holes in Newleyline and also check out Tolerno at the same time. This will become feasible and viable for the drillers making it worthwhile for them to work with MAN. As for Berinka Creek, Allchurch should commence drilling immediately to keep his promise as set up in his prospectus when MAN was relisted. I am sure he will have the support of shareholders and his actions will be reflected in the movement of the share price.
MAN Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
