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At around 7 minutes in JV states that MAFL have the LS project on the books at £1.7m and compares it to a floor of $10.3m based on the PEA. That figure could increase if MAFL can get the other 15% back from the Portuguese GOV, or if the figures improve with the Feasibility Sturdy. They should be paid $2.5m tomorrow, which more than covers the £1.7m [£2.04m].
And the expectation of £8m more to come if they sell the 5% as per the agreement struck recently. A company with hard assets worth £15m or more for just £5m! When people watch this and read the RNS confirming receipt of the $2.5m tomorrow / Monday I expect the teens may be in the past.
https://twitter.com/Bazreynolds9707/status/1600416287720493056?s=20&t=jLNZQENSrHO68mRvGxNOZQ
She will multi/bag in my opinion.
Probably when nobody is looking.
World class grades again!
And 5 million mc...
Very good news - holding these for a tactical 6 month plan - those grades are huge
Amazing stuff!!!
Bonanza Grades! And part of the Bankable Feasibility Study
As of November 29, Ascendant has completed 23 drill holes (11 Metallurgy holes reported and 12 infill holes) totalling 10,453 meters as part of the overall drill program to support the completion of the Bankable Feasibility Study expected to be completed by the end of Q1/23. Two additional infill holes are currently in progress in the South Zone for a total of 985m. Assays reported today represent full results received as of November 22, 2022 and include three metallurgical holes collared in the North zone: Met_MS_05, Met_MS_06, and Met_MS_07.
"CEO of Ascendant Resources (TSX: ASND) Mark Brennan joins the show to discuss the Company's high-grade, polymetallic zinc-lead-copper project in Portugal and give an update on recent notable news flow."
https://www.youtube.com/watch?v=T8Sq8v6BUvw
Worth a listen / watch. Made me wonder if JV will play the long game on the bigger unexplored deposit or take the cash and run.
Closed up 37% but was up over 50% at one point which is very good to see particularly since MAFL hold 2.24 million shares there.
I reckon MAFL will go on a run again soon as Mondays RNS simply cannot be ignored for too long.
£2.1 million hard cash, based on current exchange rate, coming through in a few weeks when the entire mcap here is only £5 million.
Add the various bits of the portfolio, cash pre-event and now the 5% and it is very difficult to find such value on the AIM.
Good call, although probably a no brainier, TheThinker!
Up 33%.
Delayed reaction?
I’m hopeful that 14/15p is the new floor. Mainly due to expected news flow:
1) 22nd December; $2.5m from ASND
2) new NAV
3) Feasibility Report in Q1 (and from that, a minimum price that we know we can be bought out for, should create a new floor?)
Additionally we should get: 1) New drill results
And we could get: 1) further info on the 5% vs 20% ownership element with the Portuguese Gov enormity 2) update on Idium 3) update on either of the two Gold companies
Finally, if pigs can fly, an update on CAP Energy…
Well remembered Flo! However, momentum is a difficult thing to ignore. I was planning to exit at 12.7p when it was creeping and seeming to never get anywhere (for years!). I anticpated a slow creep past 12.7p to say 13.0p. However it popped right past into the 16's so my assessment has changed. I might regret the decision to not exit as I am nicely in profit currently and it would be unfortunate if it went back to past form of creeping along. If momentum wanes and it sits at these levels for more than a month then I will. However, sometimes it pays to let your profits run so I've gone from a sell to a hold, currently. Good Luck to you. TT
Thinker, I thought you were out at 12.7!?
Somebody's nephew no doubt! LOL
When MAFL decides to go it will pop!
Charge your gunpowder and be vigilant to avoid disappointment.
TT
500k was bought one hour before the RNS.
That is AIM for you!
A few coming through from yesterday including one for 231k share and another 500k shares.
I fully expect a TR1 or two at some point.
There was also a 100k buy today that was delayed two hours.
Good point - I think JV did mention back when the FS date was extended that there was a percieved benefit from the current drilly and its impact, I think the nice situation to be in now is that the company is building up a liqud pot of cash that will underpin the SP. the portlio is now very heaving dicounted against market cap
Good to see more drilling to see how far the resource might extend... But, I expect that the results of the drilling will not feed into the NPV established during the Feasibility Study. Greater potential will sway any decision that JV makes about potentially cashing in the %5 free carry of the project, as future metal prices may be much higher, as would future cash flows if the most productive years of mining can be extended by a few years.
2022-11-28T12:39:56.560 GBX 17.335 41720 7232.162 Off-Book AIMX P LRGS AIMX
29-Nov-22 08:02:22 14.66 41,720 Sell* 14.00 15.50 6,116
The shares were held for less than 4 trading hours and sold at a loss of £1116 - a loss of 15% or £4.82 per minute.
Some get very bored, very fast. The quicker they get bored the better as the rush to the exit creates opportunities for the patient. And once the excitement is gone it becomes a buyer's market as the Market Makers are not in the business of stake building.
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..