MAN’s project has an intercept twice the thickness, of higher grade, and at almost half the depth of Carnaby’s.
Carnaby Resources is currently trading at $1.36 with a $194M market cap.
Prior to today’s acquisition, MAN was capped at $22M, with $16.2M in cash. That historical intercept, coupled with the source of mineralisation being unknown (due to a lack of modern exploration techniques and ~80% of historic drilling limited to depths of only 140m), has us suspect that MAN’s project has the potential to host a copper deposit of serious value, especially when we consider what else is in the region.
MAN Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
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