For 4 months MAN has been consolidating. Of late it has been testing resistance, a breakout would likely see it going towards a target of 14c in the short term. Longer term market capitalization may decide as CHN is value over billion of dollars whilst MAN is based on its cash holding.. Volume has been increasing indicating buying interest. Management is persistent in looking to replicate Julimar. Newleyline may answer to that as a drilling program will commence in November and management has $16.5 million to ensure success is in its way. Latest observation is many institutions are in the top 20 of the holdings and Bendigo Bank group remains as the top holder. Tolerno appears to be second string to the bow and management is currently having a good look at it. Shareholders have something to look forward to in the coming month.
MAN Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
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