I get the feeling folks here are not reading Mandrake properly. No doubt the recent fall in SP from accumulation at 16c to current accumulation at 6c is the reason.
I see it this way - M.Cap = $28m Cash = $15.5m -- EV = $12.5 m (please correct if I'm wrong)
For the price you get a stake in current Julimar lookalike drilling, and further prospects to north and west on the tenement. IMO it is a valid play.
If Newleyine proves sterile, there will still be cash to move on. That is how small cap explorers work and the big plus is MAN's board has the cred to raise cash.
This is a LT hold for me, please DYOR and calculate risk/reward against the EV. And GL.
I get the feeling folks here are not reading Mandrake properly....
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Last
3.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.70M | |||
| Open | High | Low | Value | Volume |
| 3.2¢ | 3.2¢ | 3.2¢ | $1.112K | 34.75K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 2878171 | 3.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.2¢ | 744436 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
3.1¢ |
Change
0.000 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 3.2¢ | 3.2¢ | 3.1¢ | 342555 | ||
| Last updated 12.17pm 03/05/2024 ? | |||||
| MAN (ASX) Chart |