Hi there,
I did a video on MN a while back when I told viewers I'd avoid the stock. At the time it was trading at around 80c and it was trading purely on hype. Manganese X has often been rumoured to be a takeout target of Tesla (or at least a partner), and those rumours reached a fever pitch. Nothing came of them, and the stock came crashing down.
There is no doubt that the company's Battery Hill Manganese project is an attractive asset. However, the company just completely its drilling program and is about to initiate the preliminary economic assessment (PEA). This is still a VERY long ways from being an operational mine. It is likely to require significant investments to begin mine construction and as such, investors can expect continued share dilution.
Personally, I tend to avoid exploration and development miners until they are closer to completing construction. MANY things can go wrong between now and the completion of construction which means it carries considerable risk. Also, be wary of rumours with this company. I'm sure many investors got caught up in the previous hype and are sitting on some big paper losses. One should never buy on rumours.
This will be one that can take years to play out, so patience and the ability to withstand considerable volatility will be required.
Mat