MAN 0.00% 3.0¢ mandrake resources limited

Ann: Annual Report to shareholders, page-30

  1. 11,007 Posts.
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    I like you being optimistic about MAN SB1. Many shareholders here are suffering because only a very small percentage bought below the current cash value.
    Over $15 million were paid into MAN at 20c issued price. Even Roger the current NED first purchase was around 6c and the second lot ,about 50% at 4.5c.
    I initially purchased because of Newleyline . However I was selling out when everything went quiet with MAN after the initial 3 holes without concrete results.
    Then management enticed me back in with their hypes on Delfin and its high grades copper.They confirmed due diligence was in order. They did not sign because of other issues, thus the extension of time. I didn't lose faith with management, then the news that MAN is not going ahead with the acquisition. By then I had increased my holding 3 folds. I didn't buy at the higher price however the share price up till now went in the wrong direction. So I am now also looking at a loss.
    yes, the annual report announcement of going back to Newleyline gives me back some hopes. I hope Pine Creek turns out well so that our share price can recover and our shareholders have something to cheer.
 
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