MAN mandrake resources limited

2.56%

1.9¢

Jees no wonder you are spewing.Your mob ASN are running low on...

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sharebroker1

13,666 Posts.

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10/03/25

12:56

Post #: 78199633
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Originally posted by the technician: ↑

They have to truck the brine to the California lab and truck the "Delithiumed" spent brine back to dispose of until the pilot plant is built and then continue this process at the pilot plant which has a tiny output of on a few hundred Kg per year "Pilot plant" as a description is very flattering .
In addition they need to re-enter the same wells theyve tested to draw brine and unfortunately they don't own those claims so they will need to purchase them 1st which there is a mechanism to do this under the WAA they signed the only thing is that this agreement was with a company that is now gone bankrupt so how/when this gets done is anyone's guess .
Bottom line is i don't think anyone at MAN really considered what the financial implications of this "binding" deal would be .When consider the costs of
- purchasing the rights to the wells
- grading and construction of suitable roads out to the well sites
- well head "work over rig" to pump brine
- all the transport costs
- disposal fees of the spent brine as they don't have a UIC permit or well
- the additional staff to run the operation
I can see now why there's been no movement for a year the $13 million they have left is not enough they will need to CR but there is no one in the register who would take part anymore so here in lies the problem .
Happy to be proven wrong .
I'm still watching to see what evolves out of this I think that JA will sell it on IMO just too hard but you never know maybe a new insto might inject cash into it ?

GM TT

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Jees no wonder you are spewing.

Your mob ASN are running low on cash, and here is MAN with a whopping $13.5M in the bank.

Imagine as you said if they sell this project, could be massive.

Well surely time to get back in , time to put a small buy order in the queue

Last edited by sharebroker1: 10/03/25

MAN Price at posting: 1.9¢ Sentiment: None Disclosure: Not Held
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Last 1.9¢		Change -0.001(2.56%)		Mkt cap ! $11.91M

Open	High	Low	Value	Volume
1.8¢	1.9¢	1.8¢	$30.54K	1.613M

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No.	Vol.	Price($)
2	585000	1.9¢

Sellers (Offers)

Price($)	Vol.	No.
2.0¢	632742	5

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No.	Vol.	Price($)
2	585000	0.019
5	1904026	0.018
4	1520902	0.017
2	101268	0.016
1	33340	0.015

Price($)	Vol.	No.
0.020	632742	5
0.021	826825	4
0.022	1015601	2
0.023	913465	3
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Last trade - 11.57am 16/06/2025 (20 minute delay)

MAN (ASX) Chart

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