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I said they would shave the price on no volume but they’ve gone one better.
Price has dropped on more buys than sells and that also despite every single MAFL investing indicator going up, ie. gold, silver, zinc, copper and even ASND!
Held its gains the other day and has added another 25% plus today.
No doubt, will be a good reason to shave another 0.5p off MAFL on no volume as happened when ASND closed up 40%.
This share is comical to say the least.
On the serious side and with a huge bounce seen in zinc and copper over the last six months, when will investors take note that we are actually sitting on a fantastic grade resource over in Portugal which should be worth plenty even in the ground. Also the fact our other assets have been performing very well and NAV here is almost 16p and share price 7p. You couldn’t make this up.
MAFL has been totally overlooked so far in the general commodity sector upturn. Could change in an instant and imagine the fun if there ever was demand for the shares here.
Solid small company, just extremely boring with lack of any PR.
News released after close over on the TSX.
Private placement, announced early September, finally closed and at a slight premium to current underlying market price.
10% taken up by company insiders.
I guess MAFL will continue to receive $100k/month thank you and surely exploration will continue to demonstrate good results.
Off top of my head, MAFL own 1.5% so on float it will be fairly easy to work out the value.
The way gold is going they will be heavily cash generative as I think all in costs were $1000 so big margin to play with.
Can Cerrado command a $500 million plus cap? I have no idea.
Whatever, MAFL should see good upside when the market wakes up.