Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The boredom has been pretty wonderful so far, hope it continues. Real world value is being created and evident from yesterday - we have a large sum of cash coming soon and a actual backstop of value via the option to sell our 5% next year.
Whatever people's calculations it's a steal at these prices.
Shaz, we have similar sentiments. I own 1.5% of Mafl (a bit less than last year when I was just over 2%) but if one looks at the significant shareholder breakdown in the annual report and then us, who also hold a material amount, the availability must be very very minimal. Let’s see what happens when the $2.5m comes in in a few weeks…
Closed at a multi-year high on the chart on very positive news and on very strong volume. Surely must count for something. In the old days this type of scenario would signal an invite to value investors looking for a buy and hold play so will be interesting to see how she goes. I feel it may finally be the beginning of something good at MAFL and so with the patience of both a saint and an ox, I will continue to hold for a price closer to a pound. Relative to the size here, the company will be cash rich and with a portfolio grossly undervalued due to various factors. The company itself appears rock solid.
The value of the rest of the portfolio, excluding LS, is probably around £5m.
The new post tax NPV is likely to be more than the $246m suggested by the 2021 PEA. But not that much more, as costs [financing and power especially] will have increased; the discounting factor is up to 10.5% and any additional expected free cash flow from the expanded resource base in the Feasibility Study will be in later years when the present value is so much lower. Together with the expected $2.5m in December, a reasonable valuation may be $15m = £12.5m.
So a NAV of £17.5m could be achieved next year - only 'could' as there are still hurdles to cross. But a potential NAV of 50p a share, on which I would expect a discount, but not as high as in the past. Result - a share price closer to 40p?
JV is not a young man; I would not be surprised if there was a return to shareholders if the 5% was sold for cash. Hopefully this will feature in any Proactive interview, which should be expected in the near future, as the expectation of a cash dividend would reduce the NAV discount.
But people will be bored unless this share attracts some quality rampers; which would be fine by me as I am happy for the share price to increase or fall and give me another decent trading opportunity at around 12p.
Time will tell, and good fortune to those involved...
I think they have been a bit anti rampy with this rns - the detail of the good part is almost hidden and you have to do a bit of reading to decipher .. I’m sitting on a small loss now - wrote these of until the next RNS and intention was to bail out as beennunderwater since the day I bought in .. but that RNS alongside the cash makes to hard to ignore .. It’s just so illiquid so I won’t chase it up..
I will be flabbergasted and delighted in equal measure if the price rise doesn’t hold this time. The opportunity to buy at a 3-4m market cap with the increased certainty we now have would be a rare gift indeed.
The difference this time around is that we have just received 1m dollars in cash and are now certain to receive another 2.5m dollars imminently which underpins a significant portion of the market cap. All the previous jumps in the share price have been caveated with the uncertainty that we may not reach the point that we have now very definitively achieved.
It’s been undervalued for a long time. I first came here around the times of indium and the poster who kept pushing the share each day (can’t remember his name, he then disappeared). Think it got to 18p briefly back then.
Anyway, to anyone new - check out Jaques’ interviews they are very interesting informative and have driven many of my top ups over the years.
Is it me or is this severely under valued?
Also - Couldnt MAFL now include the 5% Rights into thier portfolio NAV calculations? Even on old NPV numbers the companies NAV would now be pushing past $20 million or 60p a share and that could double+ with those drill updates
Or have i got this wrong ? its been a while
with $2.5million coming in this month and 5% rights over an asset that is going to have an NPV subject to a significant upgrade.. which at last count was be worth $14 million net to MATL but could push anywhere from $20-$40 million + on top those drill results .. six months doesn’t look to bad for a 5-10 bagger.
The Ascendent “RNS” has a bit more colour about future financing;
“The Company has provided Sprott Streaming a first right of approval to participate in any future stream or royalty type financing until certain delivery thresholds are met. Sprott has previously expressed interest in potential additional financing of approximately US$60 million.”
$60m… ??
It's worth far more than 16p in a year. Buy all day long.
just trying to work out in my mind what this is worth, i thin ki may wee add if this drops down as its very cheap and can just sit back and wait for the updated resourse and FS
Suggest putting in limit orders for the day
The 10,000 and 12,871 at 13:14 were mine and were left as limit orders as could not get electronic trade immediately
yeah .. you cant buy anything
Yes I am very optimistic that this is just the firing of the start gun so a long way before we reach a fair value.
Currently at 16p offer it is proving impossible to buy online.
Likewise a nice surprise and welcome to see such a market reaction! The start of good things to come
Yes, the £340M NPV was the PREtax one, the RNS refers to the POST tax NPV. But I’m sure this figure will rise considerably..
https://www.globenewswire.com/news-release/2021/09/13/2295556/0/en/Ascendant-Resources-Announces-After-Tax-NPV-of-246-Million-With-an-After-Tax-IRR-of-55-From-Its-Preliminary-Economic-Assessment-at-Its-Lagoa-Salgada-VMS-Project-in-Portugal.html
Woke up with these today been in the bottom drawer for a while .. I think the NPV Lagoa was approx £340 million as of last results, but as drilling has gone so well .. I assume much higher , so 5% would make this a multibagger and its still trading belwo net asset value anyway - see below
fter the end of the period under review, Redcorp and Ascendant secured a mine development permit agreement from the Portuguese government. In addition, on [date[ Redcorp and Ascendant also completed a second PEA indicating that the Lagoa Salgada Project has, based on 100% ownership, a pre-tax NPV(@8%) of US$341.6M resulting in a pre-tax IRR of 68.2%, with a 1.3-year pre-tax payback based on its planned 14-year life of mine (see announcement dated November 8, 2021)
I had some shares in an ISA from May @10.98p; gone for 16.4p today. To those buying today, thanks for making a market. Most satisfied with a 50% profit on my trading pot.
Sorry Shaz247, just reread your post and you’re talking about the Lagoa Salgada NPV. Apologies, I was rambling on about the MAFL NAV published from time to time…
Published NPV takes into account future payments on discounted cash flow basis so my understanding is that the NPV doesn’t automatically rise by $2.5M in December but JV does price conservatively. I don’t think the Ideon investment has been revised despite subsequent raises at higher share price.
Surely the NPV will rise and the 5% will be worth much more than what we see today.