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When Woodland Capital invested at 21p I am 100% sure that they would have spoken to JV and calculated a future value as like many investors pointed out at the time this was still undervalued at 21p based on cash, investments and put option. Not forgetting that JV may pull off one of the deals of the century and secure the full 20% of Lagoa Salgada. Fast forward a couple of months and the share price is 11p. Investors got 9issed off with JV for raising capital but this could well be needed to secure the extra 15% of LS who knows !! and investors getting 9issed off that insiders are not buying I am of the opinion that something is being worked on behind scenes that stops them buying. Time will tell but for now just do the sums, imo this stock is way undervalued.
as i was saying at 9.5p, this looks seriously undervalued to me and still does. unhappy investors complaining about jv, may have taken the opportunity to bring their average down at this level, much more efficient than ****ging him of on an anonymous bb imho!
gla, dyor!
Well I've been in and out of MAFL for over 7 years; buying, selling and trading peaks and troughs. IMO the current valuation is the cheapest its ever been hence i've been a buyer the last week - first time in years.
Search #MAFL on 'X' (new twitter) and you'll see a thread i've just posted which details a pretty obviously and very significant valuation disparity. Buys don't get any more obvious than this imo
Shaz I get your annoyed and the company has always been the same since 2018 when I first invested to much focus on NAV and not on shareholder return, so I have traded along the way not for 10% but 50% plus returns its the only way to play any Aim stock and never fall in love with a company. Just added a few more today at 10.24 and on next update can see this back to placing price this is the biggest discount to Nav ever and the Option that we all know is worth more than current market cap. Don't let your anger miss out on an easy 50% plus
I see the mms are struggling to contain the trades here after that RNS. Not!
All I see is a couple of traders looking for their next ten percent.
JV’s next Proactive interview? More BS you mean.
Caspard,
Your comment about the discount to NAV is more pertinent than most realise. MAFL's NAV has always been calculated prudently and is underpinned by assets and cash, not goodwill and other intangibles. In an era of high interest rates the lack of debt should also be something to celebrate.
I understand why some are upset with the recent ups and downs in the share price but they the downs offer an opportunity to buy and the ups an opportunity to sell. I have been quite open about buying and selling a trading pot in the past; I might have bought and sold early at times but have picked up enough profit every now and then to not get upset by the inevitable swings.
Last interview with JV he stated at the end of September the Nav will be north of 30p surely he will do a quarterly update soon and to be fair to JV he does seem excited which you do not see often. I have traded this share for many years and its always suffered with low liquidity however when it moves it moves quick and with the next update I expect we will see new interest in this share. Link to the last Interview with JV below -
https://www.proactiveinvestors.co.uk/LON:MAFL/Mineral-Financial-Investments-Ltd
50% discount to placing, Share Price that is trading at a massive discount to the Nav and an option that is worth more than the market cap. I get that long term holders will not be happy but wow what a price to get in now and the LS share for mafl may go from 5% -20% .
Agreed. As confirmed by MAFL announcement this morning it’s not guaranteed until signed but the prospect of 70% capex being funded without dilution is good for shareholders.
Timmit,
Excellent news... it should cheer up a few who have been rather unhappy recently. Maybe JV will see fit to make an announcement or do an interview with Proactive.
Both announced after hours. Up to $610M support on Cerrado projects and $190M on Ascendant's.
https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2023/Tender-Process-Oversubscribed-and-International-Bank-Selected-to-Act-as-Mandated-Lead-Arranger-for-Export-Credit-Agency-Supported-Non-recourse-Project-Financing-for-Its-Lagoa-Salgada-Project-in-Portugal/default.aspx
https://www.cerradogold.com/news/cerrado-gold-tender-process-oversubscribed-with-two-international-banks-selected-to-act-as-mandated-lead-arrangers-for-export-credit-agency-supported-non-recourse-project-financing-for-its-monte-do-ca/
Well if you listen to the BS sprouted from the mouth of JV in his endless proactive interviews regarding the results which were due from LS, then yes I was misled to believe the true value.
Whilst sprouting BS, nobody would have guessed he’s lining up a placing to shaft us all.
If you paid 14p over 6 years ago and then continued to hold when this, when it went up to 25p earlier this year, you must have some sort of underpinning belief that this is worth at least 2.5x the current share price.
I may be missing something of course.
how about if you paid 14p over six years ago based on what now appears was jv bs, watched good news after good news coming in, regular cash proceeds from asnd and today the price is 9p?
and no, i don’t want to buy more mafl toilet paper.
jv needs to go get another job instead of ****ting on shareholders with his bs £250k placing days after receiving £2 mill from asnd, which he didn’t decide to share a small percentage as a dividend with long supporting holders.
instead, reinvesting it into a plc and causing a huge paper loss.
where the heck is the idiot by the way? let me guess, working out the latest nav which will take him 6 months to work out and publish.
I can understand if you bought in during the 20's why you would be annoyed with SP performance, but in reality, it is probably worth thinking about considering opportunities like this to bring your average down if you did get in at that SP. You can buy double the shares at this price!
DYOR, GLA, AIMHO
26p to 9p.
JV is a genius.
Hi all - Still alot to play for here. The Goverment stake could be resolved at any time and we have the put option. This is certainly not one for thrill seekers, but worth a longterms holding. I might add, but only on profits from something else. Patience is certainly needed.
Agree on the random placing and he did clarify why he did it, and whether or not people buy that reason is another story.
Still todays SP is circa 50% of the placing price, so looks like he did a good deal for any shareholders buying in now.
He probably foresaw the decline in Market Cap coming himself lol...
Yes distressed sellers because of the incompetent JV.
If anyone had any faith in him, they would be soaking the shares up in record time, or management themselves would.
Only a complete idiot decides to place a piddly amount and destroy all confidence in the company just days after banking £2 million.
Feels a bit harsh on JV Shaz. I'm sure he'll be doing one of his video updates on latest NAV once he's come back from his quarterly holiday.
The reason the SP is tanking is simply because there is a distressed seller. It doesn't take a lot of shares to move this one and the MM know that and will drop the offer accordingly.
That’s all JV is probably worth, a quick 10% trade before a 20% drop.
How can one invest in such a ridiculous incompetent CEO.
Cash covers >50% of their Market Cap, let alone the underlying values of their investments.
This drop looks to me like someone has bought too much and they are now trying to get out at any cost.
The MM will of course do their best to make sure those disposing get back as little as possible for their shares unfortunately.
Would be nice to see JV consider doing a buyback at this level...if the underlying assets really hold the value he claims, and the SP is really 1/3 of the real value of the company!
GLA, AIMHO, DYOR
Topping up here...
Huge discount to NAV, big seller looking for their exit.
'ASCENDANT ANNOUNCES APPOINTMENT OF MR. VAL COETZEE AS DIRECTOR OF PROCESS ENGINEERING'
https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2023/ASCENDANT-ANNOUNCES-APPOINTMENT-OF-MR.-VAL-COETZEE-AS-DIRECTOR-OF-PROCESS-ENGINEERING/default.aspx
TORONTO, Oct. 16, 2023 /CNW/ - Ascendant Resources Inc. (TSX: ASND) (OTCQB: ASDRF) (FRA: 2D9) ("Ascendant" or the "Company") is pleased to announce that it has strengthened its technical team with the addition of Mr. Val Coetzee who has been appointed as Director, Process Engineering. Mr. Coetzee will work with the rest of the technical team to enhance the delivery of the Lagoa Salgada project to optimize the process flow sheet and design as the company moves towards project development.
Ascendant Resources Inc. Logo (CNW Group/Ascendant Resources Inc.)
Mr. Coetzee is a senior process engineering professional with over 25 years of experience in process engineering design, operational management, metallurgical analysis, risk analysis, economic valuation and executive leadership within the global mining industry. For the past decade, Mr. Coetzee has been at DRA Global rising to the role of Senior Vice President for Process Engineering. Mr. Coetzee played a vital role in the success of various projects and studies across a broad range of commodities and locations globally. Prior to this Mr. Coetzee worked at Impala Platinum and De Beers Consolidated as a metallurgist and technical manager tasked with overseeing new greenfield projects. Mr. Coetzee holds a Bachelor of Engineering in Chemical Engineering from the University of Stellenbosch, South Africa and a Master of Engineering: Mining (Mineral Economics) form the University of the Witwatersrand, South Africa and has experience in a diverse range of commodities, including PGMs, Gold, Uranium, Copper, Cobalt, Zinc, Lead, Lithium, Manganese, Chrome, Nickel, Magnesium, Iron Ore and Diamonds, with expertise in mineral processing, hydrometallurgy, and pyrometallurgy.
I bought a few to trade on the dip today; 10p and below should be a bargain.