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I do also wonder if this Put option is part of a strtegic plan to get the 15% issue cleared and back in MAFL hands , but time will tell on that one - GLA
This month NAV - Sept 22
Mar - Year end results Dec 22
Q2 2023 - Cerrado Gold - initial heap leach operation at Las Calandrias is expected to commence production 90k Oz P/A.
Q2 2023- BFS Ascendant Resources
Q2 2023 - Resource upgrade Ascendant Resources
Agree -The last published NAV is quite out of date.. LS was valued at $1.6 million (I think) before we got the $2.5 million, so with this GS and other investment performance .. even if we valued LS at nothing NAV looks to be 26-28p share. Its nice and quiet, and the weeks are ticking by .. FS 8 -10 Weeks away and ASND's bullishly pushing on
Agreed but mkt will discount that 5% until it is banked but covers 125% of the mkt cap on its own.
The kicker will be any advance on the other 15%
Must also have good ties with Sprott as involved in 2 of the financing to date.
Yes very good work JV - well played!
As for the company, I believe the market is pricing it way too cheap considering the 5% value of LS is worth more than the whole of the market cap as things stand today.
Add all the other bits and you can see where this is going.
All looking like the fruits of the hard work are starting to ripen .. Aonther point of note is that our stake in asendent is up over 50% and touching all time highs ... Roll on FS - Cheers
Having a few million in cash at this stage of the mining cycle is a big plus investing in decent but distressed companies.
Lots of value out there and JV picks are great.
From the annual accounts
"The next phase is to progress from small leach pad production to a 450 tonnes per day CIL plant, which could result in production exceeding 35,000/oz of gold per year. We believe that GSR could receive the project expansion funding via a streaming agreement with a well-known NorthAmerican mining financier in the near term, although there is no guarantee this will occur. '
Probably worth a conservative $1m a year in gold to MAFL based on a $500 an ounce profit. I expect that Golden Sun will not be paying any dividends, just growing production through reinvestment.
Well done BOD / JV
https://twitter.com/Baz9707/status/1625833289314365440?s=20&t=euHE01Ga2c-vMkz09-jA-A
Golden Sun update:
Sprott 10m finance
400 tonnes per day Carbon in Leach (CIL) mill finished Mar 2024
Loan repaid ??
42% increase in value from Y/E NAV ??
$1.6M value at Dec 2022 funding round ??
Royalty payments negotiated
5.2% owned #MAFL
Not too shabby for MAFL though which does historically suffer from poor liquidity.
not huge volume - maybe someone adding - but agree we have see a pattern before an RNS ..its just not easy to buy in any numbers without moving the SP - Have a good weekend
Session closed and I’m off the step.
Closed at 19.25p on very good volume.
Headmaster - it may not be the 15% but I’ll bet a dollar someone knows something.
It's picked up the Uncrossed Trade at 11:00:07
Should come out in the wash at the close, hopefully...
How can the "price" here be 16.70 when the b/o spread is 18.50/20.00? Normally it is the mid price?
Shaz: sorry, did not mean to sound too headmasterly!
Giveme: Actually the FS was due by Dec 2022 but was announced as contractually extended to Jun 23 because of the further drilling plans and, I believe, the wish to encompass as much as possible. Ironically, we now learn from ASND that it will not include some of the more recent drill results (so those would provide future icing on the cake).
Quad - I’ll sit on the naughty step for the rest of the session.
Quad - FYI the FS was due by Q1 -Its slipped to April in ASND's recent RNS- it contracually must be done Jume
Shaz, you have been here a long time and you must know that the whole of the 15% is highly unlikely to flow to the company. A deal must be being worked on but may be held up by the absence of the Feasibility Study (now scheduled by end April instead of June). Only the FS will now provide a reasonable value indicator for a seller and buyer to negotiate. Factor in a few percentage points more for MAFL (less the cost of that) by all means but let's be realistic. Realism alongside the usual patience, of course!
MAFL has been leaky to news , but if the 15% was on the way and someone knew we'd be 100% up :)
Was expecting something on Goldens Gold financing and royalties but thats gone a bit quiet ..
news is never first thing so you never know!!
Strong move on very lively volume and a delayed buy just printed.
Is the 15% coming?
And to think the 5% is worth almost twice the market cap here already so to get the other 15%, we’ll be rich!
Morning - I think it may be sell the 5% - then legally fight for the other 15%.. looking good though , comfortable to sit back and wait Cheers
Nice problem to have for MAFL.
Sell the 5% or keep it for longer. Either way…
Sweet words to any investor...
500k to a million tonnes of copper…
That’s a monster…just copper