Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
munch munch munch under 0.4.. I’ve been building a reasonable holding over the last week or two on these dips. Tuck away for rainy day :-)
Looks like our chunk of Ascendant will turn out to be another shrewd move by JV. “Ascendant Resources (CN:ASND) has almost tripled the zinc reserves for its El Mochito mine in Honduras in a significant resource update that it says points to a long future at the 70-year-old operation.” https://www.mining-journal.com/resource-definition/news/1335955/ascendant-near-triples-el-mochito-zinc
Hey Arkey. Just catching up on the thread and sorry to hear you had to take a loss mate. Been there done that before! It leaves a bad taste, but the experience makes you more prudent with future investments.. good luck with the property stuff. Always have some bricks and mortar.
NAV per share on March 31(st) , 2019 was 13.65p, up 88.3% y/y, and +9.8% vs Dec 31(st) 2018
Point to note:
The Company's cash position, as at the quarter end is GBP 401,544, while its working capital is GBP 4,832,434.
So they have over 5 million between cash reserves and capital invested (which can be liquidated at any point).. Bargain.
Good results from Ascendant.. our 3% looking ok now. Production up 38%, revenue up 45% and operating costs down 10%. :-) Also noted about Lagoa Salgada.. “with a target to complete a Preliminary Economic Assessment by year end.”
not so gormless. Reasonable question. Bad if done for cash direct to market as obvious dilution (mafl don’t need this) but possibly good for some liquidity, good if they were issued to a set of sticky hands for a long term stake in the company as part of a larger deal maybe too.
The project is certainly in the right address to encourage belief in such an outcome. The Iberian Pyrite Belt hosts several world-class mines already, including Lundin Mining’s (TSE:LUN) Neves-Corvo mine, and Aljustrel, a major producer of base metals owned by local Portuguese company MTO SGPS.
The nearby Aljustrel mine is representative of a mineralised system which can host ore bodies exceeding 200ln tonnes. With even a fraction of that size of deposit very possible within Lagoa Salgada, it would be quite something for Mineral and Financial to hold a stake with a free-carry to production.
“The last drilling program left the geological team with indications that an additional massive sulphide deposit zone may located to the the east of the LS-1 South sector, The next drill program will likely attempt to confirm this hypothesis” explains Vaillancourt.
“We’re pretty confident that the resource can be increased in that area, though we’re not sure by how much. Nothing we’ve done has dissuaded us of the potential here. Indications so far suggest we could be on the cusp of a world-class asset.”
{Sharecast News) - Mineral & Financial Investments reported a record net asset value per share in the first half of its trading year.
In the six months ended 31 December, M&F\'s NAV per share rose 73% to 12.5p from the 7.25p recorded a year earlier.
The AIM-listed outfit, which invests in, finance and advises junior mining companies, said its continued NAV growth came \"in spite of market headwinds\", such as a weakened zinc price.
\"We expected this trend to reverse, with LME Zinc inventories now approaching their lowest point in well over 21 years and halving in the last month alone,\" the M&F said.
All in all, pre-tax profits rose to £722,000 from the £135,000 recorded a year earlier, principally due to significant gains on investments of £838,000.
As of 1700 GMT, M&FI shares had picked up 3.45% to 9p.