MHC - Manhattan Corporation

Could this be the next summit resources? Eggers doing it again. Took over UNO at 20 cents and since has changed the name to Manhattan Resources, bought up lots of uranium tenements around Australia and got it to over a dollar in six months. Just shows how important good managment can be in a company. He took summit from 20 cents to mid $7 lets hope he can do half that for this up and comer.

Tates: I'm sure other ASF members would appreciate some information about this company's projects. If you see this company going places than it would be good if you could add some more detail.

A good read on the prospects of this company !! This is from the US so shows starting to get some international recognition.

Can't get the attachment to open
It just opens a blank .php page. Is this just happening to me?

subasurf said:

Can't get the attachment to open
It just opens a blank .php page. Is this just happening to me?

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Check again in 10 minutes or so. This is more than likely a result of the move to the new server. Just doing some clean up and tweaking now.

Edit: It's fixed!

Some News out on drilling results today. Can someone who knows a bit about uranium make sense of it all?

November 24, 2011

Manhattan Corporation Has Australia’s 20th Largest Uranium Project Under Licence, And It’s Only Getting Bigger
By Alastair Ford
www.minesite.com/aus.html (free registration)

Anyone interested in the uranium and nuclear power space who doesn’t yet know who Alan Eggers is could do worse than check out the video on the homepage of the company's website.


Although he squints modestly when he talks about it, as if to moderate the effects of the bright lights that he’s been exposed to since, Alan’s development and subsequent sale of ASX Top 200 company Summit Resources to Paladin for around A$1.2 billion was a consummate bit of business. Especially considering that Paladin itself isn’t worth a whole lot more than that now, following a precipitous share price plunge this year that’s forced chief executive John Borshoff onto the back foot and into taking a pay cut.



How the mighty fall. But it’s been a turbulent year for uranium companies generally, as the uranium spot price, after rising early in the year to US$70lb, took a dive and markets got spooked and spooked again by a nuclear accident at Japan’s Fukushima plant and the subsequent anti-nuclear fall-out that followed. And it was while all that was going on - while chancellor Merkel was reaffirming the phasing out of Germany’s nuclear programme and while the Chinese were raising red flags about their own development plans - that Alan last took the time to address a Minesite audience in London and to update his UK investors on the progress of the company he now runs, Manhattan Corporation.



Typically, he was his ever-ebullient self, in spite of the cross-winds that were blowing through the sector, and in spite of the barracking he received from a bearded member of the green lobby who expressed ill-researched opposition to nuclear power and was rather taken aback by Alan’s mastery of the statistical data.



The rest of the audience, however, was more interested in Alan’s prognostications on the industry in general and how it might come back from the Fukushima incident where the damage to the reactors have not caused any serious injuries or loss of lives , and on progress at Ponton in Western Australia, Manhattan’s leading project. Back in March the company announced that it had now proved up 26 million tonnes of ore grading 300 parts per million (ppm) U3O8 at Double 8, giving 17.2 million pounds of uranium oxide at a 200 ppm cut-off, with the further potential for another 2.5 to 5.5 million pounds.



In addition, Manhattan’s consultants, Hellman & Schofield, reckoned there was potential for the company to add between 8 to 16 million pounds to the company’s resource base at the Stallion South project, between 8 to 16 million pounds at the Highway South project, and between 15 to 30 million pounds at Ponton, all at a 200 ppm cut-off.



That’s not a bad jumping off point for any uranium junior, and in some sense has already propelled Manhattan into the big league. Double 8 at Ponton is, trumpets one of the bullet points in the latest quarterly results for the period to the end of September, the 20th largest uranium project in Australia, and the 7th largest in Western Australia. As the Hellman & Schofield report confirms, with further drilling, this Ponton uranium project is only going to get bigger.



The company has yet to attain Ministerial consent or have the area removed from the reserve to drill at any of Double 8, Ponton, Highway South or Stallion South, as all these projects lie within the boundaries of something known as the QVSNR, the Queen Victoria Spring Nature Reserve. The spring in question, according to Alan, is more of a sandy soak, than a fount of purity or well-being, but that apparently amounts to something in Australia, where there isn’t always enough water to go around.



Still, although the Ministers in question continue to adhere to the schizophrenic approach that Australia’s governments often seem to take towards mining, and have delayed the company’s plans to drill, that hasn’t stopped other work going ahead. It also hasn’t stopped Manhattan providing clear signposts as to how its projects will provide clear economic and social benefits to the local people and their government.



In August a scoping study by international engineering consultants Tetra Tech for an in-situ leach operation at Ponton was completed which showed how what Manhattan called “a project of national significance” might work. For a capital outlay of around A$130 million the company would construct an in-situ leach operation that would produce five million pounds of U3O8 per year, bringing in A$300 million in foreign exchange revenues and providing a further A$10 million in income tax and A$15 million in royalties to the various relevant authorities. It will also create 200 jobs in Western Australia, and support 1,000 more.



Perhaps Australia’s federal government’s recent U-turn to allow India access to Australian uranium, even if it does point its missiles directly at neighbour Pakistan, signifies a positive shift in bureaucratic attitudes towards uranium mining in Australia. If so, the local arguments in favour of development of Manhattan’s Ponton uranium project look compelling.



Especially when set in the context of uranium fuel supply shortfalls looming in 2013 and the following list of favourable things about uranium that Manhattan provides on its website: uranium and nuclear power address climate change; uranium and nuclear power are competitive; Uranium and nuclear power are safe; uranium and nuclear power is clean, green, nonpolluting and carbon free; uranium and nuclear power provides energy security; uranium and nuclear power is the lowest emission form of base load power; uranium and nuclear power provides economic benefits; uranium and nuclear power helps meet emission targets; uranium and nuclear power is stand alone and do not require government subsidies.



In the end, the weight of the argument will burst the bureaucratic dam and Manhattan investors will be the winners. But there may be a little while to wait yet.

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Manhattan Corporation Limited is engaged in mineral exploration and development, and evaluation of mineral projects and corporate opportunities in the resource sector. Its projects include Ponton Project Western Australia (WA), Double 8 Uranium Deposit (WA), Stallion South (WA), Highway South (WA), Ponton (WA), Stallion (WA), Highway (WA) and Shelf (WA). Its Ponton uranium project is located approximately 200 kilometers (km) northeast of Kalgoorlie on the edge of the Great Victoria Desert in WA. It has 100% control of over 1,100 square kilometers of exploration tenements underlain by Tertiary palaeochannels within the Gunbarrel Basin. Its Double 8 uranium deposit is located in the granted tenement E28/1898 in the southwest of the project area within the Queen Victoria Spring Nature Reserve (QVSNR). Its Stallion South is located immediately to the south of Stallion and northwest of Double 8 along the Ponton palaeochannel. Stallion South prospect is within the granted license E28/1898.

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I know nothing about MHC other than what I have inserted above. I guess that’s good enough to choose MHC for October Tipping comp. I hate uranium but not enough for a tipping comp.

Market obviously likes the drilling results. One to watch.

Anyone buy? It seems to have just nosedived out of nowhere.

Thankfully I didn’t buy. I am going to get the wooden spoon for this month tipping comp. oh well. It’s what I should expect from a random pick.

Keeping an eye on these guys. However I am not a big fan of putting $$ in to juniors which have boards/executives which are majority accountants or lawyers. Lots of puff and fluff in presentations; "early mover" "skin in the game" "unlocking australias next goldfields" "track record" "exploration success" Reads like the typical junior explorer.

Recently had 3 million raised at 1.7 cents. Trading at 1.5 cents and worth 22 million. They had a few million left at the end of the financial year - so maybe $3-4 million left to put in to actual exploration work with the rest eaten by administration? Actively drilling in old mining areas will usually deliver something - it's just how much something. Drilling should have re-started a few weeks ago and I'm still not certain what the $3 million raising is for - it just says advancing drilling. But where, what prospect, what kind of drilling - unsure.

What I like is that it looks like its not really been actively drilled or explored in recent years.

Chart showing signs of life.
Possibly worth a look into for 2022 @Sean K ?
The uranium thing may float the boat next year.
Not held. My cash has done the dash...??

frugal.rock said:

Chart showing signs of life.
Possibly worth a look into for 2022 @Sean K ?
The uranium thing may float the boat next year.
Not held. My cash has done the dash...??

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A little bit of life. Can't go too much lower.

Looks like they're prioritising their gold things at the moment. Had some interesting high grade drill results at New Bendigo. Their uranium project is a little small and lowish grade for Australia.

Bought a little bit of this today on the slightly elevated volume, on the off chance it's gearing up for another leg up.

The Triangle said:

Keeping an eye on these guys. However I am not a big fan of putting $$ in to juniors which have boards/executives which are majority accountants or lawyers. Lots of puff and fluff in presentations; "early mover" "skin in the game" "unlocking australias next goldfields" "track record" "exploration success" Reads like the typical junior explorer.

Recently had 3 million raised at 1.7 cents. Trading at 1.5 cents and worth 22 million. They had a few million left at the end of the financial year - so maybe $3-4 million left to put in to actual exploration work with the rest eaten by administration? Actively drilling in old mining areas will usually deliver something - it's just how much something. Drilling should have re-started a few weeks ago and I'm still not certain what the $3 million raising is for - it just says advancing drilling. But where, what prospect, what kind of drilling - unsure.

What I like is that it looks like its not really been actively drilled or explored in recent years.

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I have noticed the junior mining companies are often chaired by lawyers and accountants where as the MDs are geologists and mining engineers
Hope the forthcoming drilling out will bring some better hope for the holders.


https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4 - THIS DRILLING OUTCOME WILL MAKE OR BREAK THIS COMPANY

I've known amateur prospectors/ detectorists have been going to Tibooburra/ Milparinka area for years now(corner country).

Not massive nuggets generally, but found on/near surface, but usually decent little quantities for metal detecting known areas. Gotta be keen to go that far as an amateur.

A recent strategy change (smaller positions/longer holds) still sees me holding some of this, but a reduced holding now. Reduced at slight profit.

frugal.rock said:

I've known amateur prospectors/ detectorists have been going to Tibooburra/ Milparinka area for years now(corner country).

Not massive nuggets generally, but found on/near surface, but usually decent little quantities for metal detecting known areas. Gotta be keen to go that far as an amateur.

A recent strategy change (smaller positions/longer holds) still sees me holding some of this, but a reduced holding now. Reduced at slight profit.

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Purely speculative - next week will see MHC in or out from speculators.
DNH

ASX. MHC.
23/3/2022

OUTSTANDING WIDE ZONES OF SHALLOW GOLD
HIGHLIGHTS

▪ Ongoing drilling has continued to intersect significant shallow gold mineralisation in all holes,
with recent drilling returning:
▪ 63m at 1.33 g/t Au from 24m (NB0105), including
▪ 14m at 4.77 g/t Au from 52m,
▪ 9m at 7.22 g/t Au from 56m and
▪ 1m at 10.30 g/t Au from 76m
▪ 17m at 1.13 g/t Au from 4m (NB0093), including
▪ 4m at 2.42 g/t Au from 6m
▪ 3m at 4.51 g/t Au from 9m, (NB0106) and
▪ 2m at 3.90 g/t Au from 126m
▪ 2m at 3.18 g/t Au from 82m (NB0098)
▪ 2m at 4.08 g/t Au from 84m (NB0102)
▪ 24m at 0.52 g/t Au from 47m (NB0090), including
▪ 9m at 1.06 g/t Au from 58m