Alan J Eggers heads company as Executive Chairman
- Key Australian and International resource funds backing the Company
- Drilling the Double 8 uranium deposit at Ponton in WA a priority
- Double 8 deposit has 17.2Mlb JORC reported uranium oxide Inferred Resource with an additional 2.5Mlb to 5.5Mlb uranium oxide Exploration Target potential reported
- Stallion South prospect has Exploration Target reported of 8 to 16Mlb uranium oxide
- Highway South prospect has Exploration Target reported of 8 to 16Mlb uranium oxide
- Ponton prospect has Exploration Target reported of 15 to 30Mlb uranium oxide
- Further exploration drilling upside at Double 8 and along the palaeochannels at Ponton
- All uranium mineralisation is hosted in permeable sand palaeochannels around 60m deep that are amenable to in-situ leach ("ISR") metal recovery techniques
- Experienced management team to pursue growth through mergers and acquisitions
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 ("AUA").
The Company’s board includes Chairman Alan Eggers; 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 Gilbert + Tobin 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 debt free with a stable share register.
The Company will advance its flagship 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.
Whilst Manhattan awaits the turnaround in the uranium sector, and gaining its exploration access approvals, the Company has rationalised the Ponton project tenements to reduce ongoing holding and compliance costs whilst maintaining the integriity of the project and control of the reported uranium resources, exploration targets and mineralised palaeochannels in the area.
Company has now cut operations, corporate overheads, management and staff to
minimise the drain on its cash resources to ensure Manhattan will, in the
future when the sector turnaround occurs, be positioned to advance the
exploration and assessment of its flagship Ponton uranium project.
Issued Capital and Top Twenty Shareholders
Manhattan has 111,476,273 ordinary shares on issue.
The Company also has 2,000,000 unlisted Employee Options on issue with a strike price of 100,000 at $1.80 and 100,000 at $2.20.
The top 20 shareholders of Manhattan hold 76.42% of the Company.
Manhattan Top Twenty Shareholders
Alan Eggers, his Associates and managed investment fund Minvest Securities (New Zealand) Limited has a combined 27.99% stake in the Company. Over 33% of the Company is controlled by the Board with fellow directors John Seton having a 3.06% holding and Marcello Cardaci a 2.53% holding.