Hey @Hotcopiserror I'm on record as posting (in summary), if the initial drilling result was good or great rather than spectacular, the SP will dive south under 10 cents. Which is what happened. So I hope you don't mind my further thoughts.
If, as many expect, the assay results of the three holes are ordinary, the SP will of course slide south. I'd say 5 cent range. The big insto holders will do a (massive?) dump.
My view is that Newleyine is Jimperding and that Newleyine represents MAN's best hope of success. So if the assay results for Newleyine are ordinary - and we won't know the outcome of all four drills for months due to delay in drilling the fourth hole - then it's fair to say MAN can forget about finding successs in Jimperding. It would take a divine miracle otherwise.
If Jimmy is desperate he will focus on Tolarno further north, but if he's intelligent, he will use the war chest to look at opportunities elsewhere eg Berinka or buy a new tenement. This will stabilise the SP.
My bet is that he will persist with Jimperding especially if another junior explorer in the area is successful (hasn't happened yet).
In a nutshell, we can forget about seeing 10 cents for well beyond a minimum 12 months if the assay results are ordinary and it won't be Jimperding that will see the SP increase.
I am hopeful MAN will turnaround and am staying positive until the assay results. But it doesn't look good. Just be prepared for a large sell out.
Best file those MAN shares away in that proverbial bottom drawer for 2-3 years.
MAN Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
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