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Lovely interview and some nice flesh on the bones.

LS mine build costs covered by some large institutions such as Santander.

I suspect that interview will be an eye opener for some.

“A break above $50 would be one of the biggest technical breakouts in modern history because of the length of time it has taken.”

Well, it’s taken 45 years to get here.

Adjusted for inflation, silver should be around $209.71 and so I believe we have plenty to go and we are still at the start of what has potential to be a huge bull market.

37p MAFL will look cheap in due course.

Absolutely surging!

Vancouver-based Ideon Technologies has signed a five-year enterprise agreement with Rio Tinto, one of the world’s largest mining companies,

https://techcouver.com/2025/10/06/ideon-technologies-partnership-with-rio-tinto/

I guess if more market participants begin to take note of what circa 20% of GS may mean for a tiny market cap MAFL, then we could see a lot more interest.

Yes there could be quite a squeeze if MAFL starts to see more volume.

Looking at precious metals, you would think it’s that time to start buying the shovel companies again, so who knows liquidity could improve with time.

Gold is almost touching $4k and silver approaching $50, everything else up too.

I wonder how transformational this will prove for the likes of GS.

On that basis, MAFL could easily be vastly undervalued..

True, THX at £400M is a useful yardstick. Golden Sun will need $25M capex to hit 80koz, but they’re already 500tpd and cashflowing at almost $3,800 gold.

Even the current 25koz scenario points to £1+ MAFL, with much more if expansion is funded.

And this being just one investment in the MAFL stable!

And looking through metal prices today, the attraction to MAFL will only grow.

Patience as always required.

GS aside, it seems everything JV is touching, is coming really good and we should be producing some bumper figures.

My a.i mining tool has been crunching some figures;

“MAFL owns 20% of Golden Sun. At 500tpd (~25k oz/yr) that’s £1.20–£2.00/share value for MAFL. Expansion to 50k oz = £2.50–£4.00. Stretch 80k oz = £4–£6+. Current price? ~30p. Massive disconnect.

He’s more bullish than I am with a $5k gold prediction!

That interview is a clear signal that GS is in play and the investment banker comment suggests plenty of interest.

I think with MAFLs current £13 million NAV, the leverage is extreme and the stake could easily be worth $25 million and much more.

Goodness me CERT over 1.52 now, up another 12% today.

Gold/silver surged since my last post and Zinc now joining in, over $3,000.

MAFL should be reawakening soon.

13/09/2023 - two holding RNS totalling about 50% of equity.

I keep hearing the same figures from various analysts who suggest we’re in a once a generation mining boom, time well tell.

But even around current gold price, Golden Sun should be bringing in the cash.

Was it something like 3g/t (10k oz a year) and moving to 5/6g/t underground (25k oz/year). Long term goal of 100k/oz a year.

MAFL own 20% so if we re-rate, £1 plus is possible, without even facturing in the other investments.

All depending on Golden Sun updates but MAFL has plenty of gold leverage if the once in a generation turns out right.

Many seem to think we’re about to witness a spectacular commodity bull run with comparisons to 2010/2011. I recall plenty went up x10 and more in no time!

Gold/silver surging again so perhaps we need to factor in gold above 4000 and silver at 60.

Well, MAFL do own 20% of the largest gold miner in Costa Rica, who was cash flow positive, before the surge in gold prices, which would have certainly vastly improved its margins and perhaps increased interest in a liquidity event as JV alluded to in the last interview.

And this being just one investment in a growing and diverse portfolio holding some real gems.

NAV at the end of March 2025 was around £13.5 million and a lot has happened since.

Also, this was very conservative as investments such as LS and GSR are valued on the book at next to nothing so there’s lots of upside to be unlocked upon a liquidity event.

I don’t agree with Guv’s thoughts and I think they contradict his own posts from earlier this summer.

But that’s okay as a market is made by varying opinions.

Good luck everyone but im very happy to wait and see some of these investments come to fruition.

The OB does need to update his 60-70p previous target here in light of GSR, LS, gold/silver and even Luca.

I won’t be surprised to see a new target north of triple digits.

Fed cut rates and signalled more to come, historically good for the sector in general.