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Gold/Mining/Energy : Manhattan Minerals (MAN.T)
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To: dale w ruckle who wrote (3647)9/4/1999 10:18:00 PM
From: Jeff Dickson  Read Replies (1) of 4504
 
> In early august I suggested that the upcoming show and tell must be a prelude to fund raising, you said at the time that this was not the case. <

The junket out to Toronto and New York was not financing related. As far as the Peru trip goes, I think I posted here that a financing would be likely in September.

Burn rate is $1.5 million per month. The numbers my buddy dug up suggest Manhattan is raising enough to keep them drilling for a long time. Obviously the bulk sample related activities on TG1 will be expensive, but it is also clear that they expect to be doing a lot of drilling. Dilution might be a concern to some, but if there are people willing to throw that kind of money at Man I can understand why they want to take the money and drill.

Although I'm not quite sure why Mike couldn't tell me the size of the financing. That doesn't really make sense to me, unless it is a negotiation thing. Next time I talk to him I'll find out, because I'd like an explanation too. Maybe that's just up to the lead, in this case the usual suspect - First Marathon.

If you're interested in the financing I don't know what the minimum lot is. From past experience I'd suspect at least $150K, but your broker can get the info if it isn't already all subscribed.

Regards,

-jeff
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