Member Info for nomlungu

And then the markets started tanking and she did a half reverse ferret.

There was an RNS from MAFL's partner on Monday that included this timetable:

End May: New 43-101 Mineral Resource Estimate following latest drilling program
End June: PFS Quality Metallurgical Testwork Report
End July: New 43-101 PEA to include North & South zones

The new PEA will factor in the beginning of the definition of the Copper in place. My understanding is that they will then drill to see if the 2 deposits are joined and then plan on drilling deeper to see how deep the deposits go [other similar Iberian deposits are twice or more as deep so the actual deposit size could improve another 4 fold from the next Resource Estimate].

Ascendant released an RNS on Monday about the appointment of Mr. Joao Barros as Company President. Mr Barros has been President of Redcorp for quite a while [Redcorp is the Company that owns 85% of the deposit; a Portuguese GOV Company holds the balance). Ascendant currently own 25% of Redcorp; MAFL 75% but Ascendant can increase their ownership to 80% by paying MAFL around $5m and investing more in expanding the resource. Anyway the RNS included this expected news timetable - it seems to have increased interest in MAFL from some going by the share price increase this week.

End May: New 43-101 Mineral Resource Estimate following latest drilling program
End June: PFS Quality Metallurgical Testwork Report
End July: New 43-101 PEA to include North & South zones

https://ascendantresources.com/English/Investors/press-releases/press-release-details/2021/Ascendant-Resources-Announces-the-Appointment-of-Mr.-Joao-Barros-as-President/default.aspx

The new PEA at the end of July could bring fireworks...

Just in time for nightclubs opening up again - well timed.

"having borrowed more than estimated"

How much have they recently borrowed; I seem to have missed the RNS?

Or are you referring to the money they have not borrowed? The money they cannot spend as nobody has lent it to them? And, if they had borrowed the money would there not be conditions on what it can be spent on like getting gas flowing?

A Bloomberg Quicktake video:

https://www.youtube.com/watch?v=oh5ULFMsQHU

One of the companies featured is Enovix - I had not heard of them:

https://www.enovix.com/

He went a bit gammon...

ocelot,

AAOG is worth very little - issuing £8m in shares seems a meaningless exercise other than diluting out the existing shareholders (who might even get the 'opportunity' to buy the £1m in shares that actual cash will change hands for).

Anyone thinking that they will be getting a bargain buying ANGS shares at under a penny might like to buy the magic money tree I am selling on eBay (just £12m; no guarantees; buyer beware; broken, and sold as-is).

Wages? AAOG have to raise £1m; why should the board use that to pay themselves without having something to do?

The world's biggest jeweller, Pandora, says it will no longer sell mined diamonds and will switch to exclusively laboratory-made diamonds.

https://www.bbc.co.uk/news/business-56972562

Another twist in the battery road - replace lithium with sodium = massive price savings:

"Anode-free sodium battery could cut cost and size from everyday devices"

https://newatlas.com/energy/cheap-compact-sodium-battery-anode-free/

Can you imagine the bonus that SS would be awarded for that if he got £300k for a 'production' well that seems uneconomic at present?

"Am I missing something" - Yes

The key word in PEA is preliminary. The Economic Assessment was done on the North Zone of LS; it excludes the South Zone that has shown significant Copper promise as well as the Central Zone that might join the 2 Zones into one larger deposit.

The Ascendant Geologists have also said on a recent presentation that they have not drilled that deep yet - other similar deposits in the Iberian Belt go deeper, and they expect / hope the LS deposit to be similar.

So I would say you have missed (a) that the LS deposit may be significantly larger than is currently known and that (b) base metal prices have increased significantly since the PEA was completed.

As you highlighted with Woodbois...

“We are seeing very substantial inflation,” Warren Buffett said at the conglomerate’s annual shareholder meeting Saturday. “We are raising prices. People are raising prices to us and it’s being accepted.”

https://www.cnbc.com/2021/05/03/warren-buffett-says-berkshire-hathaway-is-seeing-very-substantial-inflation-and-raising-prices.html

The old man knows a thing or two.

"Lumber futures for May delivery ended Friday at $1,500.50 per thousand board feet, an all-time high and roughly four times the typical price this time of year. Futures have risen by the daily maximum allowed by the Chicago Mercantile Exchange during nine of the last 17 trading sessions."

https://www.wsj.com/articles/record-lumber-prices-lift-sawmills-while-homeowners-do-it-yourselfers-pay-up-11620034201

A quick look and my 2 pennies worth:

They both have a low dividend yield / high price earnings ratio. I like that they make free cash flow but still seem pricey, and I have little trust of South American investments. There always seems to be corruption and populist / dictatorial governments who either steal from the State or Businesses [or both] and unhappy citizens who are paid too little and have poor health services.

A bit like Africa - things seem OK one week and then there is a new GOV who want to Nationalise assets or large bribes. Dividend yields would need to be much higher to make me take on the risks.

I need a new knife sharpener and whilst searching "Zwilling" on eBay saw this: "old travel tool set by Henckels Zwilling in a leather tool bag"

https://www.ebay.co.uk/itm/363375277018?

Looks like a beach buggy on lithium?

https://newatlas.com/urban-transport/wild-one-max-electric-buggy/

£6k before the road legal stuff

"4p share price for the next 3 weeks"

Is the 25-1 consolidation rumour starting again?