<h1>BOOOOM!</h1>8 Oct 2018 11:12
This is incredible news!
tbh I've no idea how they've pulled this off -
Just 2 months ago THC received US$2.45 million in cash and shares in Ascendant, yet MAFL has managed to secure 100% ownership for just £99k.
"Ascendant to spend US$9.0M and make certain cash payments to TH Crestgate on the project"
Before today I couldn't see how MAFL were going to monitise their stake in THC without selling it but this is a total game-changer!
MAFL have always been incredibly conservative in their valuations but "The investment value of this holding will be reviewed and, if appropriate, updated to reflect its fair market value for the December 30, 2018 NAV update" strongly implies that we will now see this amazing resource and all the progress to date recognised..
"Most importantly, we believe this transaction is accretive to M&FI shareholders"
Too right!
My only slight reservation is that this must surely constitute a reverse take-over and as a result there may be a temporary suspension of the share while the paperwork is finalised. However should this be the case then the release of the updated NAV would presumably fall during that period and this would mean a considerably higher SP once lifted.
Fair play to MAFL - they've played a blinder at every step of the way!
Our patience has been tested here for sure but I really can see it paying off now!
Happy days! :-)
GLA