The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
MMs go short & filling the buy orders and take down the bid side to make shareholders nervous - the bid side is breaking away. It would be interesting to see if a buy order of another 100K or 200K would come in - if they rise the bid side?
Ascendant will pay all amounts due, for sure. Otherwise, they can't market the project to a well-financed investor/mining company. I don't think they will be able to build the mine with their own financial capabilities. Korea Zinc could be a potential suitor, but they probably want more tonnage to turn a second look on LS.
The current bid/ask spread is ridiculous – 11 to 13 Pence for 40K on each side!
Interesting to see the warm-up in the MAFL blog before the expected RNS. As soon as the payment was announced, the air is gone, and the blog is back into a deep sleep.
There was a misunderstanding in the timing of press releases between ASND and MAFL, which should be corrected. Usually, they should release at the same time/day.
Comparing the market cap of ASND and MAFL, it is visible that MAFL trades too cheap. Even MAFL will end up with just five per cent ownership of the LS-project, with all the additional payments due & the carry of the exploration budget/work; ASND is currently valued at 25 million Canadian dollars with ist 25 per cent interest.
Either an investor like the story or not = makes the difference to trade with a discount or with a premium to the NAV. In addition, communications to shareholders could be improved with the straightforward question: Does any Proactive interview has the value or a solid RNS with information for shareholders?
Wonder why ASND is not approaching MAFL for a combination?
One of the largest sugar manufacturers in Europe, but at the same time one of the largest frozen pizza manufacturers - Freiberger. Owns Stateside Foods in the UK www.stateside-foods.co.uk
In Europe, they control 78.3 per cent of the Austrian Agrana Beteiligungsgesellschaft, combining mostly the sugar production in Eastern Europe
In the UK you have AB Foods & Tate & Lyle as comparable companies - the first one has a lot of other businesses like Primark and the second in artifical sweeteners
Interesting to see how a fund is buying up the name in April an then sells off his positon - buy high & sell low!
Probably worthwile to step in here & wait. Good company in a niche position & if trading too cheap for too long a M&A transaction could lure.
Ascendant is working on a new PEA, therefore, they have the drill results from the last exploration work - otherwise no calculation would be possible.
https://ascendantresources.com/English/Investors/press-releases/press-release-details/2021/Ascendant-Resources-Begins-Preliminary-Economic-Assessment-Combining-the-North-and-South-Zones-at-Its-Lagoa-Salgada-VMS-Project-in-Portugal/default.aspx
Value at March 31, Barrick traded at 19.80 USD, Cerrado at 1.05 CAD, Ascendant at 0.18 CAD, Gold ETF 55.13 USD
Yesterday, they traded ar 23.41 USD, 1.55 CAD, 0.2850 CAD and 61.22 USD today
Certainly some uplift & the payment of ASND should be booked at the end of June (from discounted value to cash/bank account)
Probably always a question of the proof - NOMAD. Accounts are valid when you post them in the RNS. You can't say later, oh, sorry we forgot something. Therefore, an average RNS is not expensive. MAFL could copy paste the press release of ASND which you can find at www.sedar.com - the Canadian equivalent of the RNS in the UK.
With the recent management changes, it will probably take a bit longer to release the news. ASND raised the money to pay MAFL and to finance the drill campaign going forward. Generally, nothing to worry at the moment with a solid trend in the gold market, i.e. other investments. Inflation will be a theme for the remaining 2021, even central bankers talk it down.
Q1 Operational Highlights
• Gold production reported at 7,485 ounces for Q1 2021, a 45% improvement over Q4/20 production of 5,168 ounces.
• Monthly gold production has continuously increased since Cerrado acquired Minera Don Nicolas, highlighted with 3,105 ounces produced in March 2021, an 18% improvement from management expectations.
• Total cash costs of $1,363/Au oz sold, a decrease of 18% from the previous quarter
• Mine AISC of $1,747/Au oz sold, a 9% reduction from Q4/20
• Net loss of $5.67 million and basic and diluted loss per share of $0.10
The trade count on the shares is often three times! Today the sale of 51.500 & 59.500 at 10.60p = 111.000 which were shown twice at 10.86p = 288.60 £ gain for the market maker & sold at 11.4p another gain of 540 £ for the Mms.
They get most of the trade!
The f* market makers' game - taking out seller low - 59918 shares at 8.8747 and selling them later 52679 at 9.5 for a profit of 370£. Market makers do not have anything on their own books, and the company doesn't take care to solve these issues. It looks like there was an order supporting the 10 bid for days, but why to stick there if you can buy at a lower price. One thing often discussed here, the increase of NAV and the share price performance. The company always mentions the first, about the second investors wonder - why the discount to NAV? Share buyback in place - never used for a single share. New member on the board - any first filings of his commitment in MAFL?
over the last two days, around 100K shares sold in the mid-bid/offer spread - market maker covering his short sold higher? Or collecting shares to make a delayed buy print of 100K at 10p later today? As long these market makers plac this game, the shares will not take off