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Well played Timmit, this is surely fantastic news finally.
Confirmed over a phone call. I’ve understood that correctly. Don’t forget the PEA assessment could rise further as per recent announcements upgrading current resources
At the moment I am very pleased to see $2.5 million cash land at MAFL within a few weeks.
That is around 50% of the mcap here!
Have I got this right that MAFL could require Ascendant to purchase the rest of Redcorp for “5% of the post-tax net present value of the Project provided in the feasibility study completed prior to the date of exercise using a 10.5% discount rate”
Last post tax npv was 246M so at 10% discount that would be additional cash to MAFL of just over $11M - about 25p per share. Have I understood that correctly?
1. Does anyone have a rough idea what option “c” could be? Is it saying it would be 90% of the 5% cash total of the feasibility value, as that would be a material sum?
2. Jacques has put the wrong year in his end statement, as mentioned at the beginning of the RNS the $2.5m is due next month, not in Dec ‘23
3. We really really need to push on the Portuguese share of the mine - especially if a sale was previously agreed to us..
Well there you have it
When it comes, the uptick on MAFL will be quick and probably on news issued after close of play. That's how these things normally pan out IMHO. My advice, keep checking your news or get caught with pants down. TT
Thanks @hopingforbags.
Mostly these days , users of fee free sites.
A poster claiming to be an ex broker, said years ago, they where oddments
to balance the book.
e.g. someone had say 5,000,025 shares for sale, another broker has a client
order for a flat 5m, leaving 25 shares etc........
New TV advertised fee free site , came on line early last year and with it all the
toss pots using long demised with technology old codes (that where real)
like 900 911 being seen everywhere again.
http://www.pennystockdream.com/Market-Maker-Signals
lists like this one around for a long time, before all faded away with new tech
some also , conspiracy theorised, the short number was the same e.g.
1 = 100 = I need shares
;))
LSE share trades is showing a sell of 106 shares @12.01p = £12.73 today. Can someone enlighten me as to the logic there? Surely the trading fee nearly exceeds the value of the trade. Does 106 mean 106,000? TT
Need sell price of 12.75p to close out my position and start making proper profit elsewhere. Nearly there folks. TT
Yes it would be nice to get clarity. However, 5% of an operational Lagoa Salgada, £2m of listed shares, £0.9m Ideon stake, £1m or thereabouts cash in the bank, £2m payment due in December and the value of Golden Sun has to be worth multiples of today’s market cap.
Admittedly there are a couple of assumptions in there but im not gonna be far off with those numbers.
From MAFL's RNS:
"Jacques Vaillancourt, President & CEO of M&FI stated, "We are very pleased to share these latest drill results from Redcorp, as the current drill program is not only upgrading current known resources but also continues to add new exploration potential to define new high-grade copper mineralisation at Venda Nova South which could substantially enhance the resource potential at Venda Nova. We believe the intersections within LS_St_42 displays outstanding thicknesses and grade which continue to highlight the significant scale and quality of the Venda Nova Deposit and the Lagoa Salgada Project. Additionally, this supports management's view that Lagoa remains in the early stages of exploration to fully define its resource potential as seen at other mines in the region.""
He seems satisfied.
Lewis,
Yes - 5% until more news [provided Ascendant make the outstanding payment and finish the feasibility study within the current agreed time period].
Nice update, but what we really need here is clarification of the ownership structure. Has Jacques been able to progress with the Portuguese government re that stake or are we looking (which I think we are) being left with 5% (as per previous RNS)
ASCENDANT RESOURCES REPORTS HIGH-GRADE COPPER INTERCEPT AND EXTENDS FOOTWALL LENS TO 550 METRE STRIKE LENGTH WITH 200 METRE STEP-OUT DRILL HOLE IN THE VENDA NOVA SOUTH DEPOSIT AT LAGOA SALGADA
Nov 09 2022
Hole LS ST_42 returned 6.9 m @ 1.59 % Cu (1.99 % CuEq)
Located ~ 300m from previously reported high grade copper intercept in hole LS ST_31 (16m @ 2.6% Cu (4.33% CuEq)
Extends the previously defined copper rich footwall lens by an additional 200m to ~ 550m strike length
Results support definition of stacked high-grade copper lens for future resource potential
https://ascendantresources.com/English/Investors/press-releases/press-release-details/2022/Ascendant-Resources-Reports-High-Grade-Copper-Intercept-and-Extends-Footwall-Lens-to-550-Metre-Strike-Length-With-200-Metre-Step-Out-Drill-Hole-in-the-Venda-Nova-South-Deposit-at-Lagoa-Salgada/default.aspx
Resource bigger but grades not spectacular? It will be interesting to see what JV has to say...
Fallen further, by 4.5%, yesterday. Currently at 52 week low of 10, vs 52 week high of 27. Could be due to financing concerns or simply a big player wanting money - either way not good when they are trying to raise the December payment shortly. ASND does looks very cheap (cheaper than MAFL) but seems hard to invest in over here. HL won’t let me buy, I’ve spoken to a couple of other brokers and they will only let me buy TSX shares if they are dual listed on the US market. Anyone found a way to purchase? Yahoo has their MC at 8.5m converted to GBP.
Shouldn't have eaten all those prunes.
Someone is having a very large dump today.
Anyone know what is going on?
Davey, what stake building? I do not follow MAFL every day but just looked back at the last week's trades here and it is odd 000s, nothing of significance and hardly even 'nibbles' in the grand scheme of things. At that rate it would take an age to get to 300,000+ shares which is itself only 1% of the issue!
That recent stakebuilder I'm sure is nibbling more, every day we get little nibbles but the mm's do not move suggesting it's the same buyer.
There was an article about Ideon on mining.com recently:
https://www.mining.com/ideon-technologies-aims-to-take-some-of-the-guesswork-out-of-mineral-exploration/
An interesting read.
Possible funding sounds promising. I’m all for anything that goes towards solidifying that December payment.
Once that’s in we have a £5m-ish tangible floor in the price. Then it’s just down to letting peoples imaginations run wild about a Portuguese polymetalic deposit, a Costa Rican Gold mine and a possible Canadian tech IPO.
Got to be worth another £5m at least!