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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who wrote (2362)	3/12/2002 5:52:08 PM
From: geoffb_si	Read Replies (2) of 39344

Russ: There is no question the deposits are world-class. The reasons MAN is trading for US$25M MC are: (1) The group(s) that are opposing development of the mine. Whether large, small or fringe, they appear to have some clout. Could be just that they have good press, but their side of the story is getting good exposure. (2) Peruvian gov't, in the past, has not wanted to get involved, leaving MAN to resolve the problem itself. (3) The amount of time its taken to resolve the issues with the town, with no clear resolution in sight. (4) Base Metals and gold took a dive 2 years ago. (5) Limited cash ($2M). (6) They will need a major to develop this, but a major wants the issues with the town resolved before they get involved. Catch-22. Does MAN have the capital/patience/clout to resolve this? I'm eager to hear why/how you think this will be resolved successfully by MAN, and what kind of dilution (share or project) they face. Geoff

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