Absolutely agree..my analysis is not focused on the amount of cash but on the operational/onsite fundamentals....1 hole left to drill out of 4...scorecard todate 3 duds out of 3 drills (geological 100% failure) and an inability to get the 4th hole drilled (management failure).
If the good news is that they have secured a rig so be it but its not big news just confirmation of the exploration plan....if you can call 1 hole a plan. $17 million or $100 million does not in anyway justify pumping the SP unless its matched by an exploration/development plan. Seems it will just be fritted away on G&A including the board's remuneration.
Does this mean i am bitter...maybe but it was my decision to buy in so i live with the decision but all SHs have reasonable expectations that a company has a coherent plan to increase its MC and therefore the SP but MAN has NOTHING...sorry a 1 hole that they cant arranged to be drilled...cant secure a rig....OMG if a small cap cant secure a rig with all that cash what does that say of management....well we dont know because management has retreated into their cone of silence.
MAN is a true disappointment so seeing a pump in the SP (regardless of the change in fundamentals) is probably as good as we can expect....as there is zero likelihood of an announcement event of a new comprehensive exploration/development plan, drill targets, geological zones etc ...all IMHO of course...!!
Perhaps they are going to do a M&A but would you rely on the board to do a proper evaluation and not acquire another dud.
So to @sharebroker1 keep on pumping!!
Add to My Watchlist
What is My Watchlist?
