RE:The one question to ask yourself....I have to agree with Metalhead. Who can you blame for dilution, INFLATION? Too not move ahead after all the success in drilling would be pointless especially after obtaining permits. On the other hand if they did nothing perhaps MOZ would have been taken over? Unfortunatly Manson is not one to sit back and let someone else complete the mine build after all the work that has been put in.
Look at others, SKE and IAU they will be looking to finance and we are in for dilution and inflationary costs there a well. As someone posted one other company has stopped drilling in New Brunswick to conserve costs. So Manson took the Bull by the horns and is building the mine and proving up the Berry zone, there won't be many others for quite awhile close by V. Lake.
I believe they have a very conservative approach to their estimates as per the questions asked by Mike at Canaccord and explained by Manson why one pit has reduced Au content based on a less exagerated estimate that some companies present. Assuming Au pricing stays at these levels and perhaps better the project is viable and has room to increase in overall valuation with Berry zone right in the sweet spot close and center to the mill site. Gold at $1800 US is enticing for someone just looking at Marathon at today's share price. The upside is in the cards even takeout is not out of the question, Sadly at reduced valuation.
We'll wee what the other analysts have to say? I added when low and looking ahead to the progress. If Metalhead is correct and some others make the prediction of $2000-$3000 Au looks good to me!