Corporate Overview
- Alan Eggers heads company as Executive Chairman
- Company well funded with over $9.5M in cash and listed investments
- Key Australian and International resource funds backing the company
- Drilling the Double 8 uranium deposit at Ponton in WA a priority
- Double 8 has 10.9Mlb JORC reported uranium resource with an additional 6.6Mlb to 15.4Mlb uranium exploration potential
- Further exploration drilling upside at Double 8 and along the paleochannels at Ponton
- Experienced management team to pursue growth through mergers and acquisitions
MANHATTAN CORPORATION LIMITED
Manhattan is a well funded uranium company with a significant uranium oxide resource of 10.9Mlb and a further drilled potential of 6.6Mlb to 15.4Mlb already reported for the Double 8 deposit in Western Australia. There remains substantial exploration upside yet to be drill tested at Double 8 that will expand this resource base.
Manhattan's strategy for growth is to expand the resource and advance the Double 8 uranium deposit to mine development stage and by merger and acquisitions to acquire additional quality uranium resources that can be developed into producing mines in the near term.
MANHATTAN MANAGEMENT
Manhattan has an experienced management team that has previously built one of Australia’s premier uranium companies to an ASX Top 200 company.
Manhattan’s Executive Chairman, Alan Eggers, has a long and well credentialed track record in the Australian and international uranium industry and was the founding director, substantial shareholder and Managing Director of Summit Resources Limited, a uranium company that had a market capitalisation of $1.2 billion at the time it was taken over by Paladin Energy Ltd in May 2007. Mr Eggers was also a founding director of the Australian Uranium Association.
The Company’s board includes Chairman Alan Eggers; Director Development and Commercial Robert Wrixon, a former Xstrata executive; John Seton, an Auckland based solicitor and the former chairman of Summit and chairman and director of a number of ASX and NZX listed companies, and West Perth law firm Blakiston & Crabb senior partner Marcello Cardaci.
INVESTOR SUPPORT AND MARKETING
Manhattan is focused on its projects, balance sheet, share register and funding needs to create shareholder wealth going forward. Manhattan is now debt free with a stable share register.
The Company will advance its key uranium project at Ponton, expanding and upgrading the confidence levels of the reported resource and presenting these results clearly to Australian and international investors.
Manhattan has developed an extensive database that identifies corporate opportunities to acquire quality uranium resources and grow the company.
Importantly, Manhattan’s activities have attracted the attention of key Australian and international resource and specialist uranium funds in Sydney, Hong Kong and London and resulted in them taking up significant positions on the Company’s share register.
COMPANY FUNDING
Manhattan is well funded to achieve its medium term objectives with over $9.5 million in cash and listed investments. Manhattan has around $3 million in bank cash deposits and $6.5 million in investments in liquid ASX listed uranium companies.
Importantly, there is not expected to be any need for the company to go back to shareholders, or seek to place its shares with new investors in order to raise additional funds, in the foreseeable future.
ISSUED CAPITAL AND TOP TWENTY SHAREHOLDERS
Manhattan has 84.73 million shares on issue.
The Company also has 8.59 million options on issue with a strike price of 20 cents, 5.55 million at 60 cents and 5.55 million at $1.00.
The top 20 shareholders of Manhattan hold 75.40% of the Company.
Alan Eggers and managed investment fund Minvest Securities (New Zealand) Limited has a combined 31.20% stake in the Company. Over 37% of the Company is controlled by the board with fellow directors John Seton having a 4.08% holding and Marcello Cardaci a 1.88% holding.
