I was talking about it and yes $10k may not be much but...

I was talking about it and yes $10k may not be much but it's a good start .

The EV is disgustingly low I will concede that but I don't think the cash burn is going to be what you think James has been very frugal so I don't see that changing which means the wall at 2.4c on an actual SOI non diluted is a -ve EV .

TBH lithium prices for carbonate are around $12000 USD PMT which is still far better than the last trough lithium was in and in terms of ASN it's still at a 200% - 300% EBITDA but this was on project 1 project 2 would almost nudge 400% EBITDA .

If the legitimate re-entries of MANs BLM claims match the recent muck around assays , MAN will be in the money no doubt but even if this happens 2 re-entries will not be enough to build a resource let alone the resource estimate MAN put out .

As for the reason the re-entries haven't happened , only James can answer that but considering they have the green light from the BLM and they also have a drilling firm on the books and plenty of cash I'm thinking about $300k per well there's no real reason why they couldn't have done it already .

I can only theorise that they think the wells are
dusters and aren't bothering but I don't really know that's why I ask the question .

The only thing I'm not over is MANs exploits before they grabbed claims in Utah and whether the cash balance is intended for those Aussie claims as "I think" that the bulk of the cash was raised against those projects not Utah but I'm happy to be corrected there .

Anyway time will tell I suppose.

Warmest Regards TT