Bears took the control of the share unfairly when one of the three mines of the company (Cerro Bayo) suffered a flooding incident last year. But from misfortune grows opportunity, and Mandalay share price has been slidding lower and lower until reaching a current valuation which is totally unjustified. In addition, the share price is currently drawing a rebound with bullish implications which may leads the title to climb up to pre-incident quotations. Mandalay Resources is a speculative buy, and I am LONG with a target price of 0.59.