trading data reveals yesterday vwap was 1.4c higher than the close of 26.5c at 27.9c, with 1.5m turnover, high of 29c. Yesterday was the lowest open of 29c since 29 may 08. MNM has dropped 50% since its recent high of 56.5c on 17 june 08 when it had a vwap of 53.5c. Sentiment has presented some excellent buying opportunities which short term holders have passed ownership to. Long term holders, whilst the portfolio will look a lot lower, will be looking forward to the exploration updates to return their portfolio's to previous levels experienced around the middle of last month. The degree of discipline and tolerance to share price volatility will determine the sell volumes until the announcements arrive. The resource value contained in the tenements are no different today than when the share price was 20c to when it was 56.5c or yesterday at vwap of 27.9c. The only thing that changes is the knowledge of the resource, the market price of the coal, csm, phosphate and gold, the market sentiment and the share price. The actual resource in the tenements owned by Mantle and in the ground, whether just surface samples , jorc'd or in the process of being mined remains the same, it's just our knowledge that changes.
MNM Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
