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Hello folks, don't mean to intrude and I am a Manhattan
fan with my latest comments on MAN below, I do drop
by this thread now and then, thought
I would offer this on a couple threads on stocks
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Following is an excerpt from RSA's last update on Winspear
*************************************************
Resource Stocks Advisory V5 # 4 July 6 1999
Manhattan Minerals ..... MAN on TSE ........ Recent Price $8.50
Entry Price - $2.51 .............................. Opinion - hold
Manhattan just released mix news today, drilling of the TG-3
geophysical anomaly at the Tambo Grande project in Northern Peru has
resulted in the discovery of a second massive sulphide deposit
approximately 700 metres south of the previously identified TG-1
deposit. To date a total of seven holes has been completed in the
deposit and assays have been received for the first hole. This is
excellent news although the grade was not all that high, much lower
than TG-1. However, this is just one drill hole and it appears other
widely spaced holes with assays pending have wider intercepts and we
will have to wait for their results to get a better idea of grades and
thickness, one drill hole is not much to go on.
Depth
to
Sul-
Hole Depth phide Cu Zn Pb Au Ag
m m % % % g/t g/t
TG-3-1
249.0 143.1 42.3 1.0 1.0 0.1 1.11 29.0
Including 16.9 1.8 1.6 0.1 1.30 39.6
Manhatten also reported on the gold grades for the TG-1 sulphide zone
and these grades were low compared to the oxide cap. Most of the
sulphides came in between 0.60 g/t and 0.84 g/t gold, a little bit
lower than previous estimates.
The market has sold off on these results, likely because better gold
grades were anticapated for TG-1 sulphides and thus far the TG-3
discovery gives first indication of much lower grade than TG-1.
However the jury is still out on TG-3 and if follow up results come
more in line with grades at TG-1 than the stock should be bouncing
higher again. In my last update I suggested taking part profits at
$6.50 or higher, or when these results came out. The stock has been as
high as $8.50 and as of around noon today is at $7.30, so for tracking
purposes I will use $7.00 for taking 1/3rd profit. Remaining position
should be held waiting on more TG-3 results.
RSA Performance as of July 2/99 Current 12/31/98 Gain/loss
Avg YTD Gain of current 46 RSA picks ................ ........ +1.79%
Gold London PM Fix ............. 263.10 ..... 289.50 ...... -9.12%
Handy Harman Spot Silver .......... 5.39 ..... 5.95 ..... -9.41%
Copper NY nearest future ........... 75.75 ..... 76.90 ..... -1.50%
Toronto Gold&Silver Index ......... 5322 ..... 6379 ..... -16.57%
Cdn PM Funds, 5 mths to May 31............ ........ -7.50%
Vancouver Mining Index ................. 295 ...... 527 ...... -44.02% |
