Member Info for nomlungu

Shareholders should be enraged; whoever bought £20k at lunchtime is in for some nasty indigestion.

'over £10m in rhe bank '

Someone may have said; but that does not make it true.

An article to make a Brexiteer smile [they are few and far between]:

https://txtify.it/https://www.ft.com/content/c7f12d55-2d54-4b87-ae28-65f080f63c29

"No one blinks when Argentina, Venezuela, and India default on debts or
refuse to honor arbitration awards. The shocker is that Spain —
egged on by the European Union itself — has become an incorrigible
deadbeat.

Spain is second only to Venezuela in the number of defaults on
arbitration awards. Foreign investors now need to re-think whether
Spain, and the European Union more broadly, are safe places to invest.
If nothing changes, Ursula von der Leyen’s recent promise to
fast-track EU funding for the energy transition may come a cropper..."

GIVMESUNSHINE,

The after tax PEA NPV is $246m based on an 8% discount factor. MAFL will have the option to sell their 5% free carry based on a 10% discount, which reduces that NPV by around 10%. I think that the Feasibility Study will show an extended life of mine so the value attributable to cash flow from years 9, 10, etc will not add that much to the NPV [the 10% discount is a killer after so many years.

To me, it is prudent to value the 5% at around $12m / £10m as a cash option later this year if JV thinks it is wise to take the cash and pursue other projects. I make that a m/cap of around £17m or 48p a share with the potential for an extraordinary dividend or other future investment with a share price a little under 40p as shares like this typically trade at a discount to assets.

There is potential for other news as well; I am keeping an eye out for if/when too many get bored and the price drops further due to selling pressure.

US Detains Chinese Aluminum, a Suspected Product of Forced Labor

https://www.bloomberg.com/news/articles/2023-02-01/us-detains-chinese-aluminum-suspected-of-using-forced-labor

That could ripple the waters of the aluminium market?

The last 747 was delivered recently - it flew from Seattle to Cincinnati and traced out "747" during the flight as shown on the Flight Radar link below:

https://www.flightradar24.com/data/aircraft/n863gt/#2f0b1162

'Results of the final variability, step-out and infill drill holes in the South Zone will be included in the resource update to support the Feasibility Study targeted for the end of April 2023.'

That 5% just got a little more valuable.

ASND press release [Feasibility Study to be completed end April 2023]

https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2023/Ascendant-Resources-Announces-High-Grade-Copper-Assay-Results-Supporting-High-Grade-Copper-Corridor-at-the-Venda-Nova-South-Zone/default.aspx

Highlights of the infill/drilling results include;

ST_27:

4m @ 2.63% CuEq from 414m; and

9m @ 2.29% CuEq from 568m
ST_30:

5m @ 1.99% CuEq from 339m: and

3m @ 3.93% CuEq from 395m; and

10m @ 1.97% CuEq from 423m

Why not billions of $ if you are just going to make up figures?

RNS 19 Dec: "Progress is being made with regards to the first bulk concentrate sale from Kropz Elandsfontein. The sale of approximately 30,000 tonnes of concentrate is expected to ship in early 2023. The product, which has been generated throughout the commissioning and ramp up period, will be sold at a discount to current market prices."

At 'a discount to current market prices' - so was it really the 'first commercial shipment'? There are other areas where clarity is needed, like the convertible loan facility and water rights. And that is before worrying about rolling blackouts, problems with the trains, general labour unrest etc.

Well done them...

https://en.wikipedia.org/wiki/Skif_(anti-tank_guided_missile)

Anti-tank missile into a mine field

It is not the debt - the fumes in the bank account seem a problem... And, Lukashenko just arrived in Zim for a visit. A poor African country cosying up to a Ruzzian Dictator - not my cup of tea even if it is jumping off historic lows.

The Crux Interview is certainly worth a listen - the CEO came across well, answering sensible questions from the Crux Interviewer. I bought in because of the Rare Earths [partially derisked by the other projects] potential, as the "West" looks for rare earths from sources other than China. Alex made a comment [linked below] at about 23 minutes into the interview that the local GOV are prepared to deliver water and power to the rare earths site if the project proceeds. I take that as excellent news.

https://youtu.be/vjGLL4TyjuI?t=1390

Rare earth leach testing should be underway, so by the end of the year we should know if this is a goer / potential multi-bagger.

"What to do when your neighbor is a drunkard and rowdy?"

Quote from a Kazakh businessman in a Bloomberg piece with the headline "Putin’s War Is Unnerving Russia’s Old Friends"

https://www.bloomberg.com/news/newsletters/2023-01-31/putin-s-war-is-unnerving-russia-s-old-friends

I have a fair chunk of these shares so am following the evolving politics closely.

Look at the interims - not much cash to fund a loss of $1m a month. Clever clogs thinking they are the next Trading Guru are likely to become Long Term Holders if / when the next placing catches them out.

VAST Interims [6 months 31.10]:

Cash = $0.6m
Debt = $8.9m
6 months loss = $6.7

So, they need lots of cash. Watch out for the impaling placing!

https://www.vastplc.com/wp-content/uploads/2023/01/interim-results-31-october-2022.pdf

Good progress is being made.

'EV owners report issue that “fries” cars when charging at Electrify America'

https://www.teslarati.com/rivian-ford-chevy-fried-electrify-america-video/

Good stuff this new fangled electricity.

You do realise it is just a General Meeting?