What is it all worth?

Hello Everyone

Been an interesting little period between the announcement of Delfin to now. Even technical charts have hit the forum.. All great discussion points , and in the long run we are all going to hang on activity and results. There are many points of view as to what we have or don't have, what the status of our management group is and their ability to deliver activity for the company.. I did see some discussion as to why the owners of Delfin would sell out of such an outstanding prospect...... Quite simple.... They also got a great deal.. I am assuming that they would have struggled to raise the capital required. Lets break it down a little... I realise that some is stating the obvious

1. Market Cap of MAN as of today $30 M...includes $16 M cash... Value of the assets ( prospects ) around $14 M including Delfin
2. Chilean vendors would ultimately own about 14% of the entire company, plus $3.8 M cash plus royalties.. Good deal??? Make up your own mind. Don't forget, if MAN were ever to be lucky in WA , They get the benefit of that as large shareholders as well... GOOD DEAL if you ask me.
3. MAN being in AUS has much more ability to capital raise in the future for any advancements and have the cash to advance the Delfin project to the next level RIGHT AT THIS TIME
4. The Chilean vendors have agreed to very little up front and huge potential at the back end, with options for MAN to walk at certain trigger times. This alone tells me that they have a degree of confidence in Delfin. It also virtually mandates MAN to commit to certain activities at certain times.


ALL In ALL... The market right now is saying our assets are worth $14M...Given the history of MAN to date and the fact that Delfin is technically in the due diligent stage , it is understandable ... however once we pass through stage 1 at Delfin and actually move to stage 2 which is imminent ,
what is the asset worth???? No one really knows, but I would suspect a lot more than $14M ... IMO... lets hope a lot lot more.

Whether we got here by design, or by luck or anything else, the fact is we are in this very interesting position... With the data we have from Delfin and indeed even Newleyline, is this company worth a chance??? .... I have slightly increased if you are wondering

Lets have some luck , certainly interesting times