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Manhattan Corporation Ltd Acquire New Gold Project In NSW

Jordan Baird

Jordan Baird is the head ASR Wealth Advisers client services desk and has been with the organisation since 2017. He first started investing in his early years. While he believes that investors should leave no stone unturned he has a particular interest in trading based on broad macroeconomic trends along with specific analysis of innovative up-and-coming companies.

Manhattan Corporation Limited (ASX: MHC) is a resources explorer with its head office based in Perth. Manhattan Corporation have two projects, the Joshua Copper Porphyry Project and the Ponton Uranium project. Manhattan Corporation has a market capitalisation of A$4.4 million.

Manathan Corp Ltd - New gold Project

What are the recent developments in Manhattan Corporation activities?

Today (2 December 2019) Manhattan Corporation acquired 100% of a new high-grade gold project in NSW from Awati Resources Limited.

Manhattan Corporation management notes the main points of this announcement are as follows:

  • This acquisition delivers MHC a high-grade gold project in an emerging district that holds multi-million-ounce gold discovery potential.
  • The structure, age and tectonic features has similarities to the Victorian Goldfields where large orogenic gold deposits continue to be discovered (e.g. Fosterville).
  • Drilling planned for early 2020.

What is the market reaction to Manhattan Corporation announcement?

The market reaction to Manhattan Corporation announcement is positive. Manhattan Corporation share price is up 16% and is currently trading at A$0.007. 




This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

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ASR has no position in any of the stocks mentioned.

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