MAN's shareholders have plenty to look forward to. The current share price is at rock bottom bordering its cash holding of $17.2 million. There have been no significant news since the last three holes dug at Newleyline. The much published Delfin's acquisition is yet to be finalised.
According to the last quarterly report, drilling at Berlinka Creek for copper and gold must have commenced. Allchurch must be ecomical with his comments on events as we have not heard a whimper of what is on at Berlinka Creek.
Allchurch has several million of options to be converted by November. If he does it early, it will show his conviction of the projects. It may change the thinking of some shareholders that it is a lifestyle company in some way.
Much time and money has been spend on Newleyline. Untill we drilled a few more holes we will not know whether this acquisition is a dud. Management needs to commence drilling, whether at Tolerno or Newleyline to satisfy themselves that we did not make a gigantic error. We need to do something this quarter or the next with the funds available.
Management needs to do something immediately, it is so quiet, you could think that Allchurch is running a cemmentry. I hope an announcement this week will start the ball rolling. Is Management still asleep at the wheels?
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