Great post! I actually think that inexperience/lack of oversight...

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Armitage Shanks

869 Posts.

126

09/10/24

11:12

Post #: 76041359
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Originally posted by biag: ↑

Lert me indulge you a little with management
Lucky lot who raised $20 on nothing but nearology to CHN
Drilled a total of 4 holes on Newleyline... and even with $20M in the bank had nooooooo intention of spending a single dollar on follow up with the data we got
Spent a little in Berinka to presumably keep the tenement. Results actually merited some follow up , but we are now too busy taking spanish lessons at our new copper project
Copper project in retrospect was found to have been on the market for years without a buyer even though multinationals are established in the area. Don't have to be too smart to read through that, but I will give them one thing, they didn't part with much cash, and learnt a few spanish words along the way.
Now we are at the Pardox basin... Again my first thoughts were why would the local operators allow all that land to be staked by MAN.. Of course the answer is that an "experienced" operator was desperately needed.
Wait there's more : Opinion only
Directors renumeration.............. Gets at least 3 times what directors of similar sized organisations get.. all up..
At one stage 3, of us on HC including myself held enough shares to call a meeting to roll the board.. Given that the directors at the time had very few of their own shares and $20 M in the bank, it was mind boggling that the board allowed themselves to be exposed like that... In short and in few words, " are they stupid "... Not that we had any chance of succeeding , just the fact that there was $20 m in the bank, directors owned FA, and was wondering why some other organisation didn't scoop them up just for the cash

Having said all that, we are at a point where a JORC "ESTIMATE " is near. Not sure what impact an estimate will have on the market, as I got zero experience in this type of venture. , but I am hopeful it may double and square me up .. FYI, I am not holding any where near the amount once had.

Last but not least

Please be civil .. Even SB has a right to opinion, not to be taken too seriously

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Great post! I actually think that inexperience/lack of oversight explains a lot of the past with regard to MAN. I think they have learned a lot and I like the frugal approach to preserving capital. The recent RIO TO activity suggests that they are now in the right space. Time to prove up this resource imo.

MAN Price at posting: 2.8¢ Sentiment: Hold Disclosure: Held
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Last 1.9¢		Change 0.000(0.00%)		Mkt cap ! $11.91M

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Price($)	Vol.	No.
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Great post! I actually think that inexperience/lack of oversight...

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Great post! I actually think that inexperience/lack of oversight...

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