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https://twitter.com/Bazreynolds9707/status/1417468294286688275?s=19
Here are 2 tweets that should get holders excited about the future of MAC.
https://twitter.com/Bazreynolds9707/status/1416824336942616577?s=19
https://twitter.com/Bazreynolds9707/status/1416825075446255617?s=19
3 Members of MAC on the board of new Lithium company.
https://twitter.com/Bazreynolds9707/status/1413141555762794496?s=19
https://twitter.com/Bazreynolds9707/status/1402348978855895045?s=19
Original Agreement
On 2 August 2018, the Company announced the details of an Option Earn-in agreement, the details are as follows:
1) In the first part of the transaction Ascendant acquired an initial effective 25% interest for an upfront payment of US$2.45 million composed of US$800,000 in cash (US$400,000 on closing of the transaction and US$400,000 on July 15, 2018) and US$1.65 million in Ascendant shares.
2) The second part of the Agreement is an Earn-in Option which has a minimum total value, if fully exercised, of US$15.0 million. Earn-in transaction terms are as follows:
a) Ascendant has the right to earn a further effective 25% interest via staged payments and funding obligations as outlined below:
(1) Investing a minimum of US$9.0 million directly in the operating company, Redcorp within 48 months of the closing date, to fund exploration drilling, metallurgical test work, economic studies and other customary activities for exploration and development, and
(2) Making payments totaling US$3.5 million to TH Crestgate (M&FI) according to the following schedule or earlier:
I. 6 months after the closing date: US$0.25 million
II. 12 months after the closing date: US$0.25 million
III. 18 months after the closing date: US$0.5 million
IV. 24 months after the closing date: US$0.5 million (this payment has been amended)
V. 36 months after the closing date: US$1.0 million due Aug 2021
VI. 48 months after the closing date: US$1.0 million
b) Ascendant then has the option to earn an additional 30%, totaling an 80% interest in Redcorp, the operating subsidiary, by completing a Feasibility study within 54 months (i.e. 30 months from June 22, 2020) and making a further payment of US$2.5 million to TH Crestgate (M&FI).
It's good but they should start moving away from being NAV orientated as SP will always be under it.
The potential is what they should look at and start advertising the fact they own the majority of a potentially world class assett in Portugal.
LUN and ASND's Potentially World Class Lagoa Salgada
it's the first time ASND says this about Lagoa Salgada. It seems it knows something based on the existing drill results and the ongoing feasibility study. Lundin (LUN) and its Neves-Corvo project is another world class producing project in the same area (the Iberian Pyrite Belt).
Actually, the Iberian Pyrite Belt is host to some of the world’s largest VMS deposits and mines such as Neves-Corvo (Lundin Mining Corporation), Aguas Tenidas (Trafigura Mining Group) and Aljustrel (private), so it will not be surprising if ASND's Lagoa Salgada project proves to be a world class project too:
https://twitter.com/Bazreynolds9707/status/1390562484730408962?s=19
Nothing to be Conservative about, Ascendant 1 asset 20% of LS has a mkt cap of £14m.
Mafl 80% £3.3m
Plus to name a few investments:
Cerrado £1m
Ideon 500k
Gooden Sun?
Cap Energy?
https://twitter.com/Bazreynolds9707/status/1389637888376197120?s=19