MAN 3.85% 2.5¢ mandrake resources limited

bought some yesterday thought maybe forsys could easily buy man...

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    bought some yesterday thought maybe forsys could easily buy man if the tenements are worth anything,if only marginal then perhaps pay the court fees and walk.
    by way of interest forsys paid (for 70% of ancash) $1m cad and 4 million shares
    in forsys and 4 million warrants at 6.66 per share exercise
    this means forsys valued the tenement at around $45 m cad
    sure this was in the heady times of feb 2007 but clearly magna has a tenement worth holding.in fact i have now convinced myself that might be worth buying a few more.
    forsys has $20m cash on balance sheet .
 
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