While Mandrake Resources (ASX:MAN) was the top-watched stock on HotCopper on Tuesday morning, not all users were converted into bulls by its latest update. Let’s start with why the announcement grabbed attention in the first place. To be fair, the stock was up 13.7% to 2.9cps at 11am Sydney time on Tuesday. That upside was because Mandrake on Tuesday published an inferred Mineral Resource Estimate (MRE) for its Utah Lithium Project. The MRE came in better than expected – by some shareholders, at least, evidenced by comments in the announcement thread – for 3.3Mt of Lithium Carbonate Equivalent…