Ann: Annual Report to shareholders, page-32

My point is, many shareholders are underwater. Although $12 million were paid into MAN coffers, many more millions were bought in the market at 20c or higher.

Despite all these disappointments i still have hopes. I hope to see changes.
Firstly, management to be more proactive in their drilling programmes, looking for good prospective projects, frequent with their updates and announcements and continued to be frugal in managing their expenses. They must manage shareholders expectations.
if not, JA to step aside so that a more experienced and knowledgeable person could run the show.
Last but also important , if the first two did not eventuate, then a takeover by new directors or management.
With $17 million cash in hand, there is a lot that could be done.
JA, converting his options is an indication that he is sincere in his efforts as he is committing his own funds with the company. This will show his alignment of interests with shareholders. Shareholders may improve their confidence with the current management and start supporting the share price.
will there be an announcement on the drilling results before the AGM? Will management let us know, when they are putting a drill into the prospective conductor plate at Newleyline? Do they have any projects they are currently talking to prospective vendors?