Member Info for silverknight

Love this company. I'm invested for the excellent (and improving) yield. A steady sp removes any temptation to sell. Price action will probably come eventually but it's really about horses for courses.

nomlungu. That's no problem- I thought it was 20% but got 17% from your earlier post. Either way it should be a great earner. Strange there's no follow through on the sp. There's so many blue sky mining exploration companies getting chased up to ridiculous prices but this is a company with a lot of meat on the bone.

Brel-as far as I'm aware MAFL will have 20% of LS once Ascendant's payments and commitments have been met at the end of next year. If the government retain 15% then our holding would reduce to 17%. Considering it's effectively derisked this is a great result.

Do a drilling to prove the oil is there?? I think you need to do a bit of homework on this company. Of course it's there but the sort of cash they hold wouldn't scratch the surface of the costs involved in drilling it- hence the need for a farmout.

Thanks for all the input guys.Assuming Ascendant doesn't fail and full payment and potential is achieved then LS alone is worth much more than our total m/c. On an 18 month time frame the NAV should exceed 50p but there's so little stock available that a massive squeeze seems inevitable. Fascinating to watch this unfold.

This companys investments seem to be in a constant state of flux. Am I right in thinking
1. Current cash holding c £1.25 mill.
2. Another c£1.75 due from ASND next year.
3. Cerrado value c£850,000.
4. 2mill ASND shares worth c CAD 520,000
5. Ideon shares now worth c £190,000
6. CAP energy stake worth c£500,000
7. Golden Sun. ???
8. Tactical portfolio c£1mill.
The real kicker is the residual 20% of LS (assuming it meets expectations) could be worth
up to £20mill.
Am I right or missing anything?

A final div of .5p would give a yield of 7% which is very acceptable

Sadly, a main prop for me (the dividend) has been kicked away probably for the next couple of years. This is a quality company in its sector and I'll hold on but not tempted to buy more above c22p.

I'm sure they're keen to reinstate it asap. The fundamentals of this business are sound and there's plenty of upside once things return to some sort of normality. Be patient.

I suspect this might make investors wary as it's the second time money has been raised at a knock down price. The business model is great and I'm happy to hold long term but I wouldn't be surprised to see the sp drop below 40p short term. If it does I'll buy more.

Results due in next few weeks. They seem to have kept the powder dry with cash c19pps and true NAV discount c50%. They also have been keen to preserve the divi so I guess it will be maintained. Worth holding for that alone.

There is no divi at the moment.

confirms the undervaluation. How can this company have an EV of only £5mill? With increased focus and recurring revenues I'm very happy to go on collecting the divis. Much better than the banks.

Thank you both for your feedback. Obviously we are heavily dependant on the viability and success of LS. If the project fails to deliver on its promise or Ascendant encounters funding difficulties this would impact hugely on MAFL. That's just a worst case scenario. I'm optimistic and a residual 17% of LS should be worth big bucks. It would also help if JV laid out some sort of exit strategy .

to establish a realistic NAV based on information available.
Ascendant shares CAD 500,000
Ascendant debt USD 3,500,000
Residual value of 20% ownership of LS USD1,000,000
Cerrado CAD 1,000,000
Golden Sun USD 500,000
CAP Energy USD 600,000 (allowing for recent recovery of oil price)
Tactical portfolio £1,000,000
Ideon USD 100,000
Cash £578,000
Total £6,500,000 or 18p per share.
I suspect these figures will be conservative and would welcome any amendments. Thoughts?

Mick's posts reflect the luck (or bad luck) of timing entry points of investments. Sounds like he's sitting on a loss and venting frustration on directors salaries. Perfectly understandable-we've all done it. Anyone buying now for income is getting a good deal. I'm happy to sit on a few of these and pick up a 6% yield which should be sustainable. Sp increase would be a bonus.

Management need more time to turn the ship around but Herald have been long term large holders and remain so. I'm optimistic that profitability is close and current sp doesn't reflect that.

to see the PM state on Wednesday (citizen.tz) that it was "disappointing that VAT repayments were not being made as required". Well, she's the person to do something about it. Generally it sounds fairly positive.

Clearly the 369mill of distributable reserves aren't cash. Feels like this company is chasing its tail to maintain the divi. They seem to have made some good investments lately and the return to shareholders is great as long as it's not countered by a falling share price

Even having doubled from my buy in price I'm in no hurry to sell. This is a unique business and I'm happy to keep pulling in the divis