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Love these types of shares that are tightly held with significant news on its way and big buys coming in with only those that have no clue selling. This will take off one day soon and those that have held for many years imo will get back the investment but for those investing now its multi bag opportunity. DYOR
poolielad you be better off having a look at zphr (zephyr Energy) news due soon and the board own 20% of the stock. Plenty of info on the website and they already have oil just looking to increase resource before production in August.
What ever you invest it's money you have worked hard for so do some research.
Update from Ascendant today - pleased to announce the start of its updated 2020 exploration program, which consists of 2,700m of drilling and downhole IP surveys which will be completed in several phases. The main objective of the proposed program is to significantly increase and upgrade tonnage at the copper-rich South Zone.
Mafl own the majority of Redcorp and not including the payments currently be made monthly of $100,000, MAFL also agreed the following ( from previous announcement) -
V. 36 months after the closing date: US$1.0 million (ie-Next 12 months)
VI. 48 months after the closing date: US$1.0 million (ie-Next 24 months)
Ascendant then has the option to earn an additional 30%, totaling an 80% interest in Redcorp, the operating subsidiary, by completing a Feasibility study within 30 months from June 22, 2020 and making a further payment of US$2.5 million to MAFL. At the end of all this MAFL will still own 20% of Redcorp and have a free ride to production.
Favourable PEA already completed and none of the above has been calculated into the current NAV !!!
Ascendant's August presentation is very positive along with the Ascendants twitter account seeing an increase in tweets from the company. Quote from August presentation - Management Believes Lagoa Salgada has the Potential to Exceed MATSA’s Scale and Quality. Have a read of ascendants last update, its a world class asset which mafl have a 20% free ride on and its not priced into the share price. One day soon rodders.
Buy back shares was agreed in last AGM -
Resolution 7 is to authorise the Company to buy-back shares in the market. The directors have no current
intentions for the Company to buy back shares but there may be circumstances when it would be of
benefit to the shareholders and this resolution would allow the Company to take advantage of such
circumstances. The main points of the proposed Share Buy-back Plan are:
a. The share buy-back will be subject to the rules and regulations as determined by the regulators
and the appropriate exchanges.
b. The share buyback programme will apply only to the Company’s ordinary shares.
c. The company will be limited to purchasing a maximum of 10% of its shares in any calendar year.
d. The maximum share price permitted under the buyback programme will not exceed the most
recently reported Net Asset Value per share.
e. The Buy-Back plan will have a term of one year and shall expire on 27 January 2021
f. We believe that a share buy-back policy should always be in place and is expected to be renewed
annually
Like most on here I have been in MAFL for a while and whilst its been a frustrating share its a share that has assets worth 15p per share before you include the ever growing LS and cap energy. The uplift in share price today on very little volume does not surprise me as the free float of shares is next to nothing. As stated in Ascendants July Presentation they want LS in production in 2 years by then MAFL would have collected more payments and will be on a 20% free ride, that's if Ascendant have not made us an offer before and if finance deals are being discussed this imo may be on the table for discussion!! Hopefully not to long to wait until we get an update from Ascendant, especially as they have gone to the trouble to write up July's investor presentation...
Sniffer adding to your post those figures were just for the 15% from EDM and the total resource from memory at the time was 4.5 mt.
This is a great reminder that LS is potentially huge and we are on a free ride....
MM’s are accumulating shares nicely here, with not many shares available they are taking it down like they did in the 30’s then off it will go again.
Agree after hours buy above offer always a good sign. Also the director that has bought on Friday heads up the employee loyalty (joined this year) must be happy with what she see's for the future..
From annual update -
Employee Market
Leader hired and in place in second half of the year Sales have begun and pipeline being built of potential Medium and Small contracts Peel Hunt research identifies this as a £1.1 billion addressable market.
Directors buy from Friday just shown up as a sell, another good day.
Back in July 2016. Under the terms of the deal, AccorHotels - the world's fifth-largest hotel group - will acquire 80 percent of John Paul concierge for about $150 million in equity and debt, with the company's Chief Executive and founder David Amsellem keeping the remaining 20 percent, AccorHotels said in a statement.
Great to see another director buying and another decent buy just popped up. Looking good to continue the steady rise into next year with not many sellers around and less than 25% of shares available to the public. I am continuing to buy until £1. When JP was sold 2 years they did not have the contracts or the tech that Ten Life has. They were sold for $150 million. Gla
Been watching from the side lines don't usually post but as its so quite I thought I would join you. When you consider the partners TENG has on board, the directors buying and less than 25% of the shares in the public hands, then the money that they have spent on improving what they already had that worked just to make it even better makes for a bright future imho for the shareholders. It should never have been taken down so low and the MM's are struggling with the low free float having to report buy's late the following day as sell's. Nobody is selling and the steady risers are always the best as it keeps away the day traders. gla
Not sure why anyone would sell at these prices. The investments Mafl have are worth more than current market cap. (Not including LS which we have a free ride on, cash coming into the bank and still a holding of 20%) Mafl has very little cash burn and the directors are taking a very small salary. We are waiting on news of THC value, a number of ways this could happen and this imo will then be reflected in our share price but unfortunately it takes time so the MM’s take the opportunity to drop the price when ever they can. I will continue to add and have not sold one share in 3 years, everyone has different ways of investing most these days follow the herd but when the news arrives that we are waiting for patience will win. Gla
That’s why i will hold, before the news this morning it was all potential now the deal is done. Wait for the next update and then see out the year as the drill program planned which is paid for looks to be a targeting big increase in resource. Also news of Cap energy.