Mineral & Fin Share Chat (MAFL)

That’s circa £800k.
I think it’s time the long suffering holders see some of this paid back in the form of a small dividend.
A penny/share and the company will still retain near half a million and with more to come by y/e.

TORONTO, May 25, 2022 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX: ASND; OTCQB: ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is pleased to announce that it has satisfied the conditions to increase its effective ownership interest from 25% to 50% in the Lagoa Salgada VMS project (the “Project”) in Portugal. Ascendant has spent US$9 million on the Project and has made a US$1 million payment to the optionor, Mineral & Financial Investment AG ("M&FI"), as required under the original earn in agreement. Ascendant expects to satisfy the conditions to increase its stake in the Project to 80% by year end.

https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2022/Ascendant-Resources-Acquires-50-Ownership-of-Lagoa-Salgada-VMS-Project-Portugal/default.aspx

A little more for JV to invest on Shareholders behalf

NIce post Dustymop. Good Luck with your investments. TT

I think the management of this company are worth £2 a share without a business. They have done everything they can and not diluted all the small shareholders. I cant believe we am at this price when we should be around 50p+. This is not a ramp because I fill shelfs in a supermarket and catch the bus to work but I do like this company and the management. I have lost thousands on dog companies with fleas on AIM and the tipsters who ramp them. I think we will all do well on this company when the market wakes up.. Please do your own research because I have had a bottle of wine.:)

A massive order for zinc based batteries made by UEP:

"Solar and energy storage developer Urban Electric Power signed a five-year memorandum of understanding with Pine Gate Renewables to supply 4.5GWh of rechargeable zinc alkaline batteries. The deal supplies Pine Gate Renewables for their growing pipeline of solar-coupled and standalone energy storage projects across the US."

https://www.bestmag.co.uk/urban-electric-power-and-pine-gate-sign-five-year-mou-for-4-5gwh-of-rechargeable-zinc-alkaline-batteries/?

UEP have promising battery tech... potentially a large new source of demand for zinc

"UEP’s core technology revolutionizes the chemistry found in alkaline primary batteries (e.g. double AA) and makes it rechargeable. This trusted battery chemistry is now reliably rechargeable, thanks to breakthrough technology advancements.

Our battery utilizes earth-abundant zinc and manganese dioxide, which provide high energy density, low self-discharge, and are safe to operate and handle. The battery cells are modular, scaling from residential to commercial to utility applications."

https://urbanelectricpower.com/

It's frustrating that the SP never holds on this. Surely this is one of the most undervalued businesses on AIM, with a low number of shares in issue...

Maybe one day it will realise its true value.

And, possibly more important, nearly 70% went to insiders. This was not a bucket shop placing by a company desperate for cash; rather, they tapped insiders as the bill to MAFL became due.

So there’s our million bucks https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2022/Ascendant-Closes-First-Tranche-of-C3.5-Million-Non-Brokered-Private-Placement/default.aspx

The design of the LS mine was intended to be a dual resource mine where seams rich in copper or zinc would be targeted depending on resource prices at the time. I subscribe to the quarterly newsletters from GMO and the quote below is from their latest; I recommend signing up for them if you want to read their extensive and free research:

'Copper will be the oil that drives the engine for a decarbonized economy. Four to fifteen times as much copper goes into solar and wind projects relative to comparably sized coal or natural gas power plants. EVs use three to four times as much copper as internal combustion engine vehicles. EV charging infrastructure, energy efficiency efforts, electric grid enhancements, and electrification all rely on heavy copper usage.'

https://www.gmo.com/europe/research-library/1q-2022-gmo-quarterly-letter/

Best hole drilled in Portugal for over 25 years!
NAV likely close to 20p.
Around 10p cash due this year.
NAV going up to 30p.

And this excluding any other parts of the portfolio.

11p current price a bargain for traders and investors alike.

Could you imagine the Vast crowd getting a hold of Mafl and it's potential in Portugal the price would go nuts.

Worth a listen to; JV unpicks the RNS for a non-geologist. Towards the end of the interview he notes:

"We just need to remind people, the original PEA that was put out by Ascendant last year, is based on what now feels pretty out of date information, because while you were in South Africa Katy, we came out with some results that were extraordinary. We came out with the MET-MS1 hole that was 109 metres that was 20.9% of Zinc equivalent from 167 meters of depth which is relatively shallow and that is probably the best hole that has been drilled in Portugal in the last 25 years so it is a really outstanding hole that in and of itself will change the economics but having a better understanding of the deposits metallurgical features and now that we are sensing, we are getting this thing bigger at the edges. The original PEA suggested a NPV of $341m with an IRR of 68.2 (these are all pre-tax numbers), after tax $246m with a 55% post tax IRR and these are all based on a smaller deposit and lower metal prices, so the economics are going to get better when we finally get out mits on the feasibility study later this year so it is outstanding news but it needed the decodering."

The Defined Feasibility Study will provide a better understanding of the size and richness of the deposit but even then they will still be drilling once production has begun. Less than 8 months which is not a long wait in mining time even though that is years for the average AIM gambler.

Does not take much buying to have those mm's running for cover in this stock. 2500 max buy online

https://www.proactiveinvestors.co.uk/companies/news/982493/mineral-financial-boss-explains-what-geological-data-means-at-lagoa-salgada-982493.html

Who cares? It takes all sorts to make a market.
We may see plenty of these types of trades soon as I suspect MAFL is starting to appear on the radar as there is a definite opportunity for traders and investors alike at the moment.

Happens everywhere. The actual bid at the time was 11.4p so if they sold 25000 or 37500 whichever bid it was at the time then sold the rest at say 11.1-11.2p they could have saved £100 from the loss. This market is full of idiots and the sooner they all go skint the better. Now at times I dread seeing buys in my stocks because half the time they sell again the same day for a loss, why do people bother?

I know people get bored fast but to buy 45250 shares for £5792 and then sell then for £5023 after less than an hour and a half works out at a loss of around £8.50 per minute the shares were held for.

The market maker on the other side of those trades will not be eating from the budget lines tonight.

https://www.proactiveinvestors.co.uk/companies/news/982353/mineral-and-financial-investments-boosted-by-portugal-exploration-results-982353.html

I am putting my money in ascendant which is more risky but more rewarding if it goes well

That is why I sit on the sidelines. The Portuguese government could find the money easily and as the asset grows so does the importance of the mine to Portugal.

robizm1001,

My understanding is that MAFL end up with a minimum 5% free carry to production. The 15% held by the Portuguese GOV is still in play as they, Portuguese GOV's investment company, do not have the $20m needed to fund their 15% share which is only on a free carry until the feasibility study is announced (which is due at year-end for Ascendant qualify for the 80% earn in).

JV mentioned in his last Proactive interview that Redcorp are yet again in negotiation around the 15% owned by the Portuguese GOV; that might be why he is not bigging up the deposit, as he would only be inflating any price he would pay. Even if MAFL only end up with 5% of the mine there is the prospect of the current m/cap every year in MAFL's share of the mine profit for 12 or more years.

That still makes the shares undervalued...

They will end up with 5% after the DFS. That 15% is the problem.

Agreed there.
JV is one of the most conservative chaps on AIM.
He certainly has a story where he could shout from the rooftops but chooses not to and instead just gets on with the business.
I think with MAFL now we have also entered into a new phase and one which will be very rewarding for investors.

JV is a CEO who never oversells this deposit. For him to use the words: "The potential to grow both the North and South zones of Venda Nova, which are approximately 400 meters apart, as well as a prospective new target to the northeast of the property has the potential to be transformational for Redcorp." should not be taken lightly.

The flow of drilling results will be interesting.... maybe some who buy in will see the potential for a large re-rate and hold for longer than a week?

Big resource up-grade incoming. Lots of assays in the lab now being analysed results due soon!