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Gold/Mining/Energy : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Dickson who wrote (2291)	6/18/1999 12:40:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 4504

Hi Jeff, Keep in mind that MAN now has more shares outstanding than it had in 1996. I think it is 27M versus 15M. They got good money for these extra-shares and were able to buy another 25% of TG.. but they are no longer the same company. In that sense I tend to agree with you that price history may not help too much. The further you go back in time, the less relevant are the stock prices, resistance and support levels. I am working with the data from August 98 and looking at it, it is hard to say where the advance will be stopped and when we will have a significant pause. But there is no doubt that prices higher than the current level will reflect expectations rather than current value. And the technical indicators are beginning to show it. That 42M tons is worth $5-6 in my book.. However, the expectations are justified as the potential to expand this tonnage is real. And we could easily wake up in afew weeks or a month and be talking of 60M tons and possibly much more. This is probably why, the stock will not correct that much... at least until we get the first results on the step-out drill holes and the drillng on TG-3. Then the results will dictate where we go. But make no mistake... the TG, Lancones and Papayo properties are big all together. There is the potential for a major belt of VMS deposits... the kind of that made the big companies like Inco and Noranda. Only exploration will tell how big this is and how high will the stock go.