Member Info for nomlungu

Yeah, right; we are so fortunate to have an 'expert' to provide an explanation. Just wish it was more convincing...

The dreaded "no news" news by the sound of it; UKOG have a habit of seeming to release news as it suits the BOD best.

Another one [copied from the MAFL board]:

Same is true of Cerrado Gold announced today - another tie up with the UK Export Credit Agency worth potentially up to US$610 million in Export Credit Agency ("ECA") support via long term ECA Project Finance to cover up to 70% of pre-production costs plus additional support to cover Interest During Construction and Insurance Premium Costs.

Looks like Mark Brennan is probably the common denominator in these as he's CEO/Chairman at both companies...

https://www.cerradogold.com/news/cerrado-gold-announces-potential-uk-export-credit-agency-support-for-project-finance-at-its-monte-do-carmo-and-mont-sorcier-projects/

This is just plain weird to me so if anyone can offer some sort of explanation it would be appreciated; why would MAFL's partner be able to select UKEF, the UK Export Credit Agency from group of 4 compliant Expressions of Interest for potentially up to US$190 million in Export Credit Agency ("ECA") support via long term ECA Project Finance to cover up to 70% of pre-production costs plus additional support to cover Interest During Construction and Insurance Premium Costs?

UKEF financing a mine in Portugal!!!!!! Which will pay taxes in Portugal?????? Good news for MAFL that money is around for the mine but why would the UK Taxpayers fund it?

https://www.lse.co.uk/rns/MAFL/investment-update-ascendantredcorp-8jz23nbv6vo91xy.html

Why would UK Export Credit Agency finance a mine in Portugal? Good news but just a bit weird!

Might just be temporary - they seem to need cash.

I said they needed cash; placing on the back of the dewatering permit 24 hours later; around 25% discount.

https://www.londonstockexchange.com/news-article/ALBA/share-placing/16028095

Freddy,

The current GOV have made no mistakes - they have purposely run down the NHS to achieve the dual political objectives of keeping taxes low for the very rich and preparing for the end of the NHS (which will remove the need to tax the rich).

BYD - beware of smoke and mirrors... Especially smoke;too many of their cars are catching fire.

I think Sunak thinks he is 'better' than Bryant; did he find it infuriating having a Welshman from The Valleys rip him a spare one...?

'Ask Peter: Why Is Scottish Independence a Suicide Pact?'

https://www.youtube.com/watch?v=VCwrbv-_PNo

Worth a listen...

Rather pessimistic about Mali:

'Residents of north and central Mali face the risk of an onslaught of violence from resurgent jihadist forces.

Their rulers are to blame.

Colonel Assimi Goita, the leader of Mali’s military junta, has engineered the departure of a 13,000-strong United Nations force just over a year after strained relations with France led Paris to withdraw its 5,000 troops. On June 30, the UN Security Council voted to remove the mission by January.

Now, Mali’s ramshackle military will, with the assistance of about 1,500 personnel from Russia’s Wagner mercenary group, battle al-Qaeda-linked militants and Islamic State in The Greater Sahara who’ve killed hundreds and driven thousands from their homes in recent months. '

https://www.bloomberg.com/news/newsletters/2023-07-04/next-africa-mali-leaves-itself-at-the-mercy-of-jihadists

ALBA - up 60% on dewatering permit; has no money so will need a placing soon. Some are going to get burnt again

I think he said he would leave the UK if Brexit was a disaster; it is, and now he cannot get a bank account. He may be gone soon...

The company seems to need more cash; net current assets at 30 Nov were only £121k. Will any rise on the back of the dewatering permit be used to place shares?

"But it remains a possibility"

I am firmly of the opinion that the Moon could be made of cheese... And that ocelot would ramp the possibility of UKOG mining cheese on the moon if he thought it would encourage someone to buy UKOG shares.

'The Fed Finds That 37% Of U.S. Firms Are Close To Default'

https://seekingalpha.com/article/4614718-the-fed-finds-that-37-percent-of-us-firms-are-close-to-default

Summary

A recent Fed study indicates that 37% of US non-financial firms are currently close to default, a level higher than most previous tightening periods since the 1970s.

The study suggests that the current monetary policy tightening will likely cause a recession much deeper and longer than any other recession since the 1970s.

Financially distressed firms have limited access to capital during monetary policy tightening cycles, causing them to cut investment and reduce headcount.

The forthcoming financial crisis could be more severe than the 2008 Great Financial Crisis, based on the percentage of firms near default.

2 minutes to lift off

https://www.youtube.com/watch?v=2otJMj34pj0

Maybe if the people who keep adding the opinion "Strong Buy" to their posts will back those posts up with some buys? It might stop the continuing share price fall...

Or is it only a Strong Buy if you are spending someone else's money?

Might please some

https://www.bloomberg.com/news/articles/2023-07-03/china-jumps-ahead-in-the-rush-to-secure-lithium-from-africa?srnd=premium-europe