<<Give me your range, okay? >>
With pleasure Elizabeth.
For the past 10 months, I had a target of $5-$6 to be reached soon after the Supreme Decree had been granted and once the epxloration program starts. I raised that target to $6-$7 last Friday on the announcement of the high gold grade. I then suggest it might be a good idea to take some partial profits... but at the same time I said that one must continue to hold a core position as the potential continue to be excellent.
I no longer have have a target on the upside. In other words, I think that the potential exist for a price in the double digits. All will depends on what they will find.
In the near term (4-6 weeks), 3 things can move the stock to new highs. In the longer term, 1 thing can help the stock:
1) the announcement of the gold grades in the sulphide. I think the stock will take $1 for each gram fo gold they have on the sulfides. We expect 1g/t or below... but who knows a surprise is always possible. I have study many similar deposits and it is not rare to see average of 1-2g/t gold and more.
2) the expansion of TG-1. There is no doubt that the tonnage will increase from 42M tons. If you looked at the drill sections, you will understand this very easily. When the last hole on the SW boundary returns 44 meters of 6% copper... it is normal to exepct something beyond. And it is like that in all directions and at depths. I think that 60M tons is a realistic target. This would increase the value of the depsoit by 50%.
3) TG3... a anomaly larger than TG-1.. with similar signature just 1km to the south. They are drilling hole#2 now. What if TG3 is the continuity of TG-1, what if they hit ? I am sure you want to know how many more anomalies like TG-1 they have and will drill.
4) Copper and zinc prices are starting a new bull... this will have a lesser effect than the previous points but will still be positive long term.
OK...now I think that base on what we know and current metal prices ... MAN is fairly valued between $6-$7. But this is now. Next week and in the weeks ahead, we will learn more... and $10, $15 even more could become a new target.
On the low side, I doubt we will see much below $6 in the near term. I can only see one thing that would make your $2 possible... and it would be that all 4 possibilities above fail and that MAN, a few years down the road, is unable to develop a plan that will make the locals happy.
Keep in mind Eliz that this deposit is so far the equivalent of a 8.7 millions ounces of gold deposit (6.5M to MAN)... and MAN's market cap is only C$170M. The oxidized gold cap is high grade and will be very low cost. The whole thing is growing in size. This camp is more than a single deposit. The odds of finding another deposit on their properties is 99%, such are VMS systems. The only question is where and when. I am betting on TG-3..in a few weeks.
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