Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Morning
BFS finally out .. slightly disappointed with the high level number however even after adjusting NPV 10% which has little impact due to early cash flow the put option is worth $7million which adds about $5million to the current NAV after discounting the current valuation .. I think it’s now up for debate on what MAFL do next .. on one hand it’s a big uplift , but there’s still appear to be work to do to get the full potential out of the resource .. will JV cash out ?
Morning - A bit of a pull back from the .57, but looks a good solid buy and can see that going much higher over the next 6 months if all goes to plan .. Nearly 4 weeks since the extension was announced, hopeful we might get some news soon,
Timmit - Thanks good interview
Looking like a very good investment - 50% at these levels and looks to have some legs over the next year
Hi Florence
I think that is a sensible outlook.. I'm a slightly more bullish NPV coming back to shore up he NPV to at least what was in the PEA
Positives
PEA Only took into account M&I resources, we have had a very large drilling campaign since with very positive results
PEA cash flow was all inthe first 4 years, due to the above if beleive this will increase mine productivty and the NPV over the following six years
Exchange rates long term are much more favourable
Metal prices even after large correction still above PEA
Negatives
Capex and Operating cost will have increased from PEA.
On the whole it looks good..but even $6 would be a signifcant boost
Not any surpises in there goof ot see it upto 22.5p - I think Lagoa holds $1.5milion within that, I like the way JV doesnt speculate at all.. this snippet belwo give update on minor developments
Our most recent significant strategic investment of 5.7 million shares of Luca Mining was made in the first week of April 2023 at C$0.35 for a unit composed of 1 share and 1/2 warrant exerciseable at C$0.50. Luca is not part of the current NAV performance, as the investment was made after the end of the current period under review. Luca shares, as at 5 July 2023 were trading at C$0.51 per share. The Company also received shares from the spin-out of Terrasun shares from Golden Sun Resources. Terrasun which holds 17 exploration projects, several of which have historical resources, also owns owns a mill and 6 drill rigs. The Company owns a little over 5% of Terrasun and internally values this investment at GBP197,000.
Thanks Timmit.
All Good, and if it the case that UK is actually think longer than 1 month ahead them its good news also - about time .. not heard of the UKEF before. time ticking along
Does appear from the below that this is part of UK Strategy to source comodities ?
UKEF's Expression of Interest will encourage a UK-led sourcing strategy while allowing flexibility for sourcing from other countries. Support available subject to standard project finance terms and successful due diligence.
Sould help ASND SP - had a kicking over these delays -should restore a bit of confidence for thier investors
Good value as this level - I think things may pick up rapidly with this project over the coming months, the 5% put option will sit there, but im sure alot is going on to prize that extra 15% out of the Gov's hands.. that 5%-20% could be very valuable as a undiluted redcorp parent carry..coultd be liked in someway..JV is proving to be a very comptent and shrewd investor
I thought that, seem odd, is redcorp incorperated in UK ? maybe works as a way of securing resources as exports - no idea - plenty of uk based projects that could do with that investment, but not complaining - does highlight the potential.
A couple of lines caught my attention
UKEF's EOI is in line with the OECD Arrangements for Officially Supported Export Credits and stipulates minimum UK content requirements whilst enabling equipment to be sourced locally and from other countries
Together with S&G, Ascendant will now be soliciting interest from Project Finance Banks to act as Mandated Lead Arranger ("MLA") for the transaction. Ascendant has advised MAFL that they expect to appoint an MLA by the end of July 2023. Once an MLA has been appointed, detailed due diligence will commence with the aim of receiving final terms for the ECA backed Project Financing at Lagoa Salgada towards the end of the year. Further updates will be provided in due course as appropriate.
Yes - LUCA looking good worth £1.7 million on todays bid - looks a great investment .. Another 2p on the NAV .. took advance of the drop yesterday to add about £9k , first time adding for a while - seems worth it at theee levels
Thanks - Nice update., and a very valid point around moving the high value yield first .. get than NPV up as high as possible
Hi Florence - Yes thats how i see too, our option is valid at point of 80% earn in - They do have that faciltiy avaiable , however we dont know what covenants are on the use of the cash.. But looks like MAFL were pivitol in facilitiating the Spott deal, therefore i'm assuming the method of pay MAFL in the event of the put option has aleady been addressed. Will be intersting to see what ASD put out today FC completion next week (onlu to miss it)
Morning
ok 6 week extension- It must be immimently ready to be issued, six weeks is nothing and obviously that the drop off date, so SD must be tellining JV they are a forthnight away IMO, good news for me, better than silence from ASND. at least we have a clarfication
Hi Girdz
Just read that annual report, got death spiral writeen all over it.. only thing that is positive forme is that BIDS have a 13% minotiry shareholder - any chance JD will get the boot ? They could shore up easier enough to get a majority for a faction of what they have put in and take it private, then get rid of the loser when done.. either way shareholder look destined to be shafted. cant keep rise tinted glasses on that auditors report - GLA oNE OF THE WORTH ceo'S ON THE aim
"Extension Resources" as they are fondly known on the TSX bb'S :)
Yes no worries - I was refering to the recent presentation from ASD (it on thier website now) 3rd from last page amended 27th June 2023 - but if think its more of a typo - wouldnt move it 5 days :)
Morning .. Yes I saw that - I trust MAfl RNS over the ASD Presentation.. Still would thought it would be clarified today ? nothing yet but RNS's seem to flow late morning , so might get an updated today