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4.1¢ mandrake resources limited

Haha ... can you name one company who has fast tracked assays in...

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Cyclone Steve

1,447 Posts.

688

13/09/21

09:49

Post #: 56011610
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Originally posted by Hotcopiserror ↑

Still cannot understand why a company with over 15million in the bank did not fast track assays....

Currently I still maintain SP is where I expect pre assays, I hope good results should see it at 7-9c, which would be a generous 40-50% off one set of assays. If they are not good then it may sit at 2-3c. To whoever was confused why it will sit under cash value, if MAN has no good results from Newleyine then it must either

A) Spend a few hundred thousand on a new drill program at a new location. Moderatly expensive
B) Buy, explore and eventually drill a new tenament, Very expensive
C) Do nothing and slowly eat cash in admin costs

If there are no prospects worth mentioning at Newlyine then the logical assumption is current Cash value will be much lower in the future to pursue other alternatives. Therefore I can't see why MAN should sit above cash if assays are bad.

My worry is that they will simply just pretend to drill Berinka like they have since they bought it, whilst whittling down the cash to fund an easy life for the next few years.

This is not fianancial advice. Good luck to all holder and DYOR.

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Haha ... can you name one company who has fast tracked assays in this current covid environment.

MAN Price at posting: 5.5¢ Sentiment: Buy Disclosure: Held
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