I take the view that GLN’s investment with MAN is being overstated. Does anyone really think they have the time or interest to meddle in MAN’s affairs not to mention the issue of confidentiality given MAN is a potential takeover target.
MAN still hasn’t improved their communication except for some social media posts. Still no interviews or selling the story. No timelines for planned work at Utah, just drip fed announcements. No real sense of any urgency for anything including spending the war chest to add value.
Newleyine has fallen off the radar and Berinka has fared no better. What is the story, what are the plans?
From my background research MAN is a reflection of the Ascent Capital-Steinepreis Paganin playbook (PUR is another) where a cosy group of associates are re-floating dormant/distressed companies led by said associates and in the process voting themselves generous shares and options from the capital raised. Whether they hit pay dirt finding a resource is the icing on the cake and simply maximises their wealth. If it fails (MOO is an example) they move on to the next target.
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