Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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God help us when the NAV ticks down a little!
Anyone know why CERT is plummeting?
I’ve some questions why JV has been investing in Brennan companies which are all tanking.
I love watching the estimated NAV increase whilst the actual value of my holding decrease.
The mistake was due to the majority of the MAFL RNS being taken verbatim from the Ascendent update. There’s another mistake where they mention September 2024 NAV.
Anyway, I’m still hopeful here. Let’s see the drilling soon, increased FS, and a good deal with MAFL (maybe where we pay some capex for an increased % of their 15% so they have a relative free carry).
It will be corrected later…
Slight mistake in the RNS
paragraph which reads:
If both the EDM Option and the Put Option are executed, the Company will hold an 85% interest in the Project and EDM will hold a 15% fully contributing interest, with each party required to contribute pro rata, subject to standard dilution clauses.
Should read “Redcorp will hold an 85% interest”
Great news JV but when are shareholders going to see the jam and get the sp back into the 20s?
Ascendent have just released the below (I’m only quoting the high level bullets):
- New High-Resolution gravity survey suggests potential to rapidly expand Massive Sulphide Mineralization at current Venda Nova North and South Deposits
- Multiple additional gravity anomalies identified to potentially add to the Massive Sulphide Ore Bodies near Venda Nova
- EDM's Option to gain a 15% interest in the Project extended to September 30, 2024 due to upcoming elections and government change
Annoying about the push to September for EDM, but as stated below, it wouldn’t end well playing hardball with the Gov. No doubt we shall receive more in our RNS tomorrow.
Casperd,
Whilst I agree that the delay is annoying bear in mind that MAFL / ASDN stand to gain nothing and lose plenty by getting confrontational with the Portuguese GOV.
Politics is a massive factor in mining and the lithium scandal that brought down the GOV of António Costa means that there will now be national elections on the 10th of March. It is reasonable to expect delays on any mining related matters until after the elections to remove any perception of skullduggery.
I am a realist whose stance most would normally class a 'glass half empty'; this is a rare occasion where I might be placed in the 'glass half full' camp.
Patience, if you have the time, is key. But, if more people lose theirs then the share price could weaken further and offer another sub 10p buying opportunity for the brave and fool hardy.
What is going on with JV ?? Almost month has passed and still no update ??
Additionally, following a request by Empresa de Desenvolvimento Mineiro S.A. ("EDM"), the Portuguese State Mining Development Agency, for a 60-day extension to its existing option to participate in or sell up to a 15% interest in the Project by making its election by 3 February 2024 (previously 2 December 2023), Ascendant and the Company have agreed consequential amendments to the terms of their respective call and put options.
Dthe country continues to be a safe place for foreign investors.
https://www.politico.eu/article/portugal-still-safe-for-mining-investments-minister-says/
MAFL hold roughly 2.2m shares in ASND
In recent times, the stock market has been a tumultuous place, and the TSX Venture Exchange has not been immune to the challenges. Liquidity on the TSX has hit an all-time low, and exploration companies like ASND are finding it increasingly difficult to navigate these turbulent waters.
ASND, an exploration company with approximately 173,439,492 shares in issue, has been facing its own set of challenges. The company's shares were last raised at 0.08, but currently stand at 0.055. However, despite these challenges, there are reasons to believe that ASND may be well-positioned to weather the storm.
One reason for optimism is the board's commitment to maintaining the company's reputation and completing ongoing projects. This was evidenced by the board's decision to take 270k of the last raise, a sign of confidence in the company's future prospects.
While the road ahead may be challenging, ASND's board appears to be resolute in its determination to see the company through this difficult period. MAFL would not want to over commit to this one investment as the prize is on the % held in the overall project.
In conclusion, while low liquidity on the TSX may be a cause for concern, ASND's board's commitment and confidence in the company's future could be reasons for cautious optimism.
I wouldn't say so at present, according to their shareholders list (caveat, this is AI generated , so may have changed...)
Here are some of the shareholders of Ascendant Resources Inc:
CQS (UK) LLP: 16.62%
Steve Laciak: 10.27%
Mark Brennan: 3.527%
Clifford Hale-Sanders: 1.376%
Stephen Shefsky: 0.9320%
David Ball: 0.3248%
Christopher Jones: 0.3188%
Carl Calandra: 0.2544%
Rui Santos: 0.2489%
Kurt Menchen: 0.2112%
AIMHO,DYOR,GLA
I read Ascendant has a Market CAP of circa 10 mil, and is soon to hold 80% of the keys to a c100mil NPV project. So that's an assumed 80 mil of DCF back to the owners over the life of the project (after the put option is exercised, and assuming Ascendant has/is able to raise the funds to pay the circ 5 mil to M&FL)
Just thinking out load here... why wouldn't M&FL consider taking a signifcant equity stake in Ascendant, in lieue of the total cash proceeds, especially at the current depressed share price?
Just trying to join the dots...? But seems like something JV should consider?
AIMHO, DYOR,GLA
Is that Jan 2025?
Meanwhile, ASND approaching zero share price and CERT and LUCA not a million miles behind.
Nice buy just popped up on live screen always know something is coming when these types of trades pop up on a really quiet share. We could be looking a huge increase in share price if MAFL get the 20% even if they don't we are still significantly undervalued.
Most conservative CEO I've ever known. How old is JV? Will we see a conversion of the NAV to ROI before he retires or the unfortunate inevitable happens? When either happens the SP will sink as he is Mr. MAFL. I wish him many happy and healthy years ahead but you have to wonder...
Lol you are so right
a January update !!!
Lol Did you copy it from an old article?
JV will probably confirm or deny in 6 months time via a RNS issued hours after market close.
And then he will say ‘it is prudent to be conservative’ and the sp will fall 10%.
Interesting just copied the below from Ascendant - Just waiting for JV to confirm !!
Ownership
As outlined in the original option agreement post publication of the Feasibility Study, Ascendant fulfilled all of its obligations in relation to the option agreement to secure an 80% interest in the Lagoa Salgada Property. The remaining 20% is currently held by the Company's partner Mineral and Financial Investments AG ("M&FI").
Very solid.
NAV £10 million and mcap £4.4 million.
Massive difference.
Good update with further upward movement on assets, surely worth alot more on the market cap. I am hoping that this was the foundation RNS of what is to come with regards to the 15% coming to MAFL followed by share buy back using some of the cash then we will have lift off.
Was hoping for a 7am RNS! Sadly not. Presume we will have to hear something today?
A recent addition to the company's website
https://www.mineralandfinancial.com/wp-content/uploads/2024/01/MFI-Investor-Presentation-January-2024.pdf
I was having a look to see if there was any exposure to El Salvador - unfortunately it seems as though there is none. Gold mining is likely to be restarted there soon after the elections (tomorrow) that should see the 'Cool Dictator' re-elected.
In typical JV fashion, I expect an update in the afternoon or evening !
Completely agree, but I think JV has been working hard on this so I’d like to hope we may see more than expected. Especially based on the fact that the previous agreed transfer with EDM was agreed years ago and then halted.