Marc Vogts and Peter Sarantzouklis have been appointed to the company’s board as non-executive directors.
The experience of the appointments alleviates Macquarie’s previous worries about the Nachu project to some extent, which remains a unique opportunity.
The broker retains Outperform and a $1.70 target.
Target price is $1.70.Current Price is $0.62. Difference: $1.08 – (brackets indicate current price is over target). If MNS meets the Macquarie target it will return approximately 64% (excluding dividends, fees and charges – negative figures indicate an expected loss).