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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.
To be honest, even if we don’t get the extra 15%, we get the option to sell our 5% stake for more than our current MCAP.
So I’m very much in the camp of it’s a win win.
The extended deadline is the 3rd Feb, so a a Saturday. So hopefully we will hear by COB this Friday what, if anything, has been agreed with EDM. If JV manages to pull a blinder and we keep 20% then our NAV will be in a different league.
This should go back up soon but I see that some of its investments have lost some value but that's the market in general. I do like this company and the management team and believe it is undervalued a lot.
Ahh thanks, that 50k buy is certainly a bargain!!
EDM deadline coming up in the next week or so. It could get exciting very soon!
I bought some the last time it dipped below 10p [in October]
50k was certainly a buy. What a bargain somewhat get there eh!
50k was a buy, when the mid was 10.25p
Nice tick up on minor volume (75k buys vs a 50k sell). I wonder if that was the last of a seller.
I was hoping for some more at 10p. Oh well.
I wonder if they have considered buying back the shares at this price. Unless they know of any impending investments which have potential to generate 100%+ returns in a relatively short time frame, it would seem a no brainer.
With the NAV at circa 25p and expectations of reaching/exceeding 30p if the the LS put option is excised, it doesn't feel unreasonable to me that 20p is out of the question in a short time frame, and that could still represent an opportunity for investors, still giving it a 33% discount to the prevailing NAV. Ie. 20p Market Price - 30p NAV.
Feels massively undervalued.
All views my own, please DYOR and GLA!
Shame it was a small buy shaz from JV and if the directors are allowed to buy where is the rest of them ? Holding for Feb should have news on the 15%. Can't believe this is so undervalued based on Facts but with no news or updates from JV we just have to hold.
It’s probably the only stock on AIM which goes down 10% upon a director buy.
Any normal company would go up 10%.
JV is probably scratching his head like the rest of us.
SP is too low IMO... I wouldn't be surprised to see investors start taking a sizeable stake here, especially those who bought in at the 21p placing earlier in 2023.
They must surely be considering bringing their average down, given the potential gains on offer here...
AIMHO, GLA, DYOR
NAV 25p
JV pays the market 11p for 50k
Bargain!
Steps in the right direction
https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2024/Ascendant-Resources-Inc.-Announces-Submission-of-the-Environmental-Impact-Assessment-EIA-for-its-Lagoa-Salgada-VMS-Project-in-Portugal/default.aspx
Topped up a few more today, just whilst I can...
People just don't seem to get it, but when the SP is back into the 20's, then at least you can say told you so!
To get an idea of how generous the current share price is, consider that MAFL are valuing LS in the accounts at a 20% discount rate on the cash flows from the Feasibility Study even though they have a Put Option on the 5% which is worth around £4.8m cashable early next year if the BOD were to chose to do so.
That is more than the current M/Cap! JV explain in the interview at the time stamp below.
https://www.youtube.com/watch?v=-hAf7OHKjhE&t=170s