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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.
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.
Disclaimer:
This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)
(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).
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ASR has no position in any of the stocks mentioned.
