PUR is currently down 16% from the top it reached after its announcement so the results didn’t exactly set its share price on fire.They found a weak VMS system that is different to Julimar.
PUR and MAN are both part of the C3 Consortium group whose business model is to pump and dump. As I pointed out MAN is going to hand over 3m+ options to C3C at the forthcoming AGM for ‘consulting’ services. Jimmy and the board should be ashamed of such poor foresight.
Don’t be fooled by the likes of Sandhurst Trustees ‘investing’ in MAN; JMP Finance Group simply uses Sandhurst to trade on their behalf. And they sold a large trance of their holdings
As for the drilling at Newleyine, there is only one further hole to be completed which is the weakest one of the four. No other drilling programme has been announced.
Basically the only positive MAN achieved this past year was the credit raise. And even then it left a sour taste to the extent we won’t be able to come back for a second raise unless the share price is well north of 20c. Hardly an achievement to justify Jimmy’s pay rise which puts him ahead of other managing directors doing far greater work.
None of the board have increased their share holdings. Skin in the game shows that you walk the talk.
Not a lot to like about MAN. Did someone say 14c soon?
Ann: Encouraging Results at Newleyine- Further Drilling Planned, page-109
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