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either way MAFL are going to end up with 20-30% of LS after everything is said and done. Still a cracking deal considering it’s costing nowt from here on in ..

you realise they own 15% outright and 75% of the 85% that Redcorp own right? Plus they just took all of THCs Ascendant shares meaning the shares alone are just short of today’s market cap lol

The RNS when they got the 15% states THC took it. Not Redcorp. And Ascendant own press release states they bought into Redcorp which owns 85% of LS. This THC retained the 15% now MAFL. http://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2018/Ascendant-Resources-Acquires-Interest-and-Option-in-the-Highly-Prospective-Lagoa-Salgada-VMS-Project-Located-on-the-Prolific-Iberian-Pyrite-Belt-in-Portugal/default.aspx

or to put it in simple terms if 3.5% is correct MAFLs Ascendant holding on its own isn’t a kick up the arse away from our current market cap lol

back of fag packet figures is another $600k in shares of ascendant! at current cap

We must remember Ascendant bought 25% of Redcorp. Which only owned 85% of LS. The 15% left over was in THC. Now MAFL.

Yes Rasmus and Shaz. Think you’re both on the money here. Schuy, the RNS replacement states that MAFL own 2.2% between their own shares and I guess there 49% of THC’s shares.. so you’re maybe right.. you can add the 51% of THC’s shares to that percentage now. BONUS!

Yes .. it’s in this press release from Ascendant themselves that Redcorp owns 85% of LS. So they bought 25% of the 85%, and can increase to 80% of the 85% lol. Either way, MAFL still hang onto 20% of the 85% and an outright 15% not owned by Redcorp. Nothing complicated in the slightest about it. :-) http://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2018/Ascendant-Resources-Acquires-Interest-and-Option-in-the-Highly-Prospective-Lagoa-Salgada-VMS-Project-Located-on-the-Prolific-Iberian-Pyrite-Belt-in-Portugal/default.aspx

Add that to your NAV and suck it up

Ascedents market cap at close was $58 million lol

So MAFL own 2.2% of Ascendent outright now too.. rather than “combined direct and indirect interests in Ascendant Resources by MAFL is now 2.2%.”

It’s crazy the more I look at it. In addition to the extra $900k working capital, 15% outright if LS, 75% of Redcorp.. They also get all THC’s shares from the sale of the 25%.. and any they have left from the other Toral asset sale (maybe these were already disposed for cash .. unsure)..

Agree now. Think the new director does also

From July’s results which were made up to end of June 18. “We continue to be effectively debt free with working capital of GBP2.63 million.” Then yesterday’s RNS they acquired more cash.. “Increasing M&FI's working capital by USD900,000” Plus.. the whole 15% of Lagoa Salgada that THC took from Portuguese Gov. co. Plus the 75% of Redcorp. What’s our market cap today please?

It’s fair to assume that 99.9% of aim traders can’t be bothered to add up simple numbers! Crazy after yesterday’s deal

Me neither ma5k. I'm sitting going through old press releases and RNS etc.. my god what a deal!

For the price of a tiny 1 bedroom flat up here, they've took THC's 15% wholly owned stake in LS, THC's 75% of Redcorp (the 85% of LS).. and the working capital, if I have this right?

It's actually the deal of century. There was either a ton of work done by Jacques and James on all this, and a fair bit of funds borrowed (hence the suspension transaction wait)..or Jacques has photos of the two Swiss guys in bed with ladyboys.. lol

mind you jacques said that about update timing weeks ago before all this so i’d expect a slight delay methinks

So Ascendant have bought 25% of the 85% .. not the other additional part.

I knew I had it right!!! Mafl now do hold 15% of Lagoa Salgada outright, in addition to the 75% of Redcorps stake. “("Ascendant" or the "Company”) is pleased to announce that it has acquired from TH Crestgate GMBH (“Crestgate”) a 25% interest in Redcorp - Empreendimentos Mineiros, Lda, (“Redcorp”), which holds an 85% interest in the polymetallic Lagoa Salgada volcanic massive sulphide (“VMS”) Project” THC owned 100% of Redcorp owns 85% of Lagoa Salgada, and also the last 15% acquired from Portuguese Gov. So that 15% MAFL now own entirely right? In addition to their Redcorp stake .. http://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2018/Ascendant-Resources-Acquires-Interest-and-Option-in-the-Highly-Prospective-Lagoa-Salgada-VMS-Project-Located-on-the-Prolific-Iberian-Pyrite-Belt-in-Portugal/default.aspx

The Company will publish a quarterly update on its NAV. http://www.mineralandfinancial.com/our-business/investing-policy/