RE: I cannot believe.21 Feb 2020 17:52
mrcautious,
I entirely agree with the 'solid fundamentals' comment. I have seen 'cash shells' spend more on administration costs than MAFL do.
As crazy as it seems I would have no problem with the share price dropping back to 6p again as I have 'dry powder' waiting for such an opportunity. THE LS PEA was only done on a small portion of the expected deposit. As JV stated in the last Investment Update:
Jacques Vaillancourt, Chairman of Mineral and Financial Investments stated - "We are very pleased that our confidence and investment in the Lagoa Salgada project has been more than justified by the results of this maiden PEA. Over the short period that we have partnered with Ascendant they have advanced the Lagoa Salgada project, we have demonstrated a long-life mine with a modest initial capital and very low operating costs while also having a rapid timeline to production. This study outlines a low cost, high-margin mining operation which the Company intends to improve through continued resource growth and ore quality expected at the project. This study highlights the tremendous intrinsic value created for our shareholders, and our expectation is that there are many further opportunities here to continue building value. We expect this project to increasingly become a major focus and priority for Ascendant over the coming years. Moreover, the remaining Mineral Resources in the South and Central Zones, out of scope for this PEA, offer near-term growth potential with additional exploration work which we view as lower risk. We have also identified additional gravimetric targets on the property that are extremely encouraging and remain untested. We expect the strong correlation between gravimetric testing and subsequent high-grade drilling results in the North Zone to continue in these zones. Follow up drilling is intended to support our objective of identifying additional resources to support future studies."
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