Hi Elizabeth,
> What kind of logic is this?
Where do you get the upside of only $10? Perhaps just considering the one target, but there are a couple of other very good targets. Manhattan has also positioned itself as its own area play, staking the surrounding ground or obtaining an option.
The questions you ask are good ones, although I'm not sure they apply to Manhattan. I agree, superficially the major selling to a junior is perhaps not logical, until you consider who the major was and more importantly, what happened to that company. Manhattan was started by one of the individuals involved with that "major" at the time of the initial drilling.
I'm confused about your comment about the government approving the deal and funding.
This was not a deal that was thrown together in an evening, as many long term followers of the story are painfully aware. The recent action in the stock is much more logical to me than someone shorting the stock without familiarity with the story.
Personally I agree with Gerald that the stock is ahead of itself, although I don't agree to the extent that I'd go short. I sold some of the shares I picked up when the stock started to move, since I believe in selling into a rally. I still hold a core position from the bleak winter prices, and I do hope that I'll be able to buy more at a little lower prices shortly.
I recall that I've seen some very interesting posts by you on other threads (Nuinsco maybe?), and I sincerely hope that you weigh in with your opinions when you have a chance to study the story in more detail.
Regards,
Jeff Dickson |
