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To: Andrew who wrote (1251)6/4/2001 2:26:25 PM
From: geoffb_si  Respond to of 4051
 
Andrew:

> Claude do you have an opinion on MAN at these prices

I decided to reply since I have watched MAN closely for about 6 mos.

It could all work out rosy, and MAN goes up 5X or more. But, you should also carefully assess what MAN is worth without Tambo Grande, as this is a possible outcome as well. Anything can change without warning: there's a national election to consider; some of town has to be moved and townspeople haven't approved the move; environmentalists & farmers are opposed; Majors don't seem willing to do a JV without local support; MAN got an extension on their option, but they also delayed delivery of a feasibility by 1 year.

On the upside, there are other good exploration properties that they own in the area.

If I were to buy MAN, it would only be to trade it, with a carefully chosen stop-loss.

But, even at current prices, I'm watching from the sidelines, because of the risks...

Geoff



To: Andrew who wrote (1251)6/4/2001 2:27:53 PM
From: Claude Cormier  Read Replies (1) | Respond to of 4051
 
Andrew,

I still like very much what they have, especially TG1. But, until they solve the major issue which is an agreement with the locals, I now prefer to watch from the sideline.