Ann: Mandrake Acquires 100% of Jimperding Project, page-43

I put this out to a few punters on Monday:

Mandrake Resources Ltd (MAN)
6.5c
Market cap $20m
Cash in bank $4m


The Next Chalice ?

Chalice have gone from 15c in March to $3.30 today on the back of their Julimar PGE discovery near Toodyay, 70km NE of Perth.
(a 2,100% gain and moved from a minnow to a $1B company)


We are starting to BUY Mandrake who will soon be drilling for Nickel, Platinum & Palladium at their Newleyine prospect that sits 30km away from Chalice


It all comes down to the drilling but any success and this is the next Disallowed

Their project sits on a similar structure, rock chips are similar, aeromag has identified a big target, larger than Chalice’s original discovery

Upside on discovery is +50c
Downside to 2c on failure

The company waiting on exploration licence (E.L) to be granted
Drilling can then commence

MAN shares commence trading tonight on the Frankfurt Stock Exchange

I can provide further updates as it moves into the drilling phase

High Risk, High Return