Member Info for Timmit

Indeed, my favourite long term hold this one.

We should see the final accounts (including June NAV) and Sept quarter update over the next 2 to 3 months.

Also worth a reminder that Oberon (part of the group not necessarily Oberon Capital the broker) hold 5.81% so they have some flesh in the game.

This was earlier today...
https://youtu.be/ypgocjkkgDQ

>>Nomlungu. Hi there, you said:

"Using 2 year old drilling samples is a shame

'It should be noted that due to limited availability of fresh core, the testing material used was approximately 2 years old and partially oxidized which had a negative impact limiting results at this time. Grinding Solutions Ltd. is confident that with further work on fresh core, recovery expectations will be in line with or better than the average seen at existing mines on the Iberian Pyrite Belt."

I wondered about that and couldn't find the answer so I asked a man who knows! Apparently, it's about 25,000 Euros to drill a fresh hole to get the kind of samples used for this test. So, they were able to use material from the hole they had previously drilled when they were testing for mineralisation etc. Not a problem as they can still use the samples but a different set of tests are needed to get the readings taking account of the oxidization. Sorry to any geologists for my "word salad" but I thought it might be something that other mining newbies wondered - I had no idea of the costs of drilling...

The protection we have against that is that JV is on a small salary and has bought a lot of shares with his own money! He is about as aligned with us smaller shareholders as it's possible to get!

Agreed Phoebus. Couple of reasons why the disparity in my view...

MAFL shows up as an investment company rather than mining/resources. I'm sure that's stopped it appearing on more radars whilst everyone's been chasing metal.

Several unlisted stocks which are harder to value

Even the listed ones you have to do some digging to have an idea of what our holdings are (and they might even have changed since!) so to try and come up with your own running valuation is difficult. Therefore you're relying on the quarterly NAV update.

I think these sleeping giants can be frustrating as they may need months going into years to fully realise their potential. I really believe this will become much bigger but it needs a lot more patience than most stocks in the resource sector - even some companies that are not even near-production will have regular flurries of interest which can allow investors an "out" if they get bored but I'm not expecting the same kind of see-saw here due to the lack of interest. Certainly couldn't accuse it of being ramped!

Now on RNS
https://www.londonstockexchange.com/news-article/MAFL/redcorp-ascendant-preliminary-economic-assessment/15132701

Just out:
https://finance.yahoo.com/news/ascendant-resources-announces-tax-npv-100000395.html

Headline: "Ascendant Resources Announces After Tax NPV of $246 Million With an After Tax IRR of 55% From Its Preliminary Economic Assessment at Its Lagoa Salgada VMS Project in Portugal"

Understand your frustration Brel but the June NAV update is normally provided in November at the same time as the June year end accounts and other announcements are due to events from the companies they have investments in.

Plus the assets are likely valued at cost or the value per share of the most recent raise. Potentially the pre-IPO assets are worth considerably more than their book value…

The general meeting was today at 09:00. Hopefully, all resolutions passed - Capital Reduction needs 75% approval...

Expect an RNS later...

Webinar now finished but can watch again at:

https://event.webinarjam.com/replay/627/xx990imlwuz8givz9hpy47

If you listen to the interview at total-market-solutions.com/2021/07/capital-metals-july-2021/ in the segment from 1:55 onwards he actually says:
"Hopefully in the next month or so, the next month........but again we are dealing with a couple of moving parts that are not completely in our control, government departments..."
This is qualified guidance only, absolutely NOT a promise that there would be an EIA announcement with the month. I wonder how many PIs have actually listened to the interview and made their own mind up, rather than just repeating what they've heard wrongly on BBs and Telegram groups.
I wonder if some of the frustration may be from some seeing this as just a trading opportunity rather than an investment...

Apologies BMB - you're absolutely right, Sir! it is 1,805,554 shares in Truspine - that'll teach me to try and copy and paste when I'm trying to do three things at once!

As per https://primorusinvestments.com/our-investments/
PRIM own 14,999,914 shares in Truspine

Now showing as "Unknown"...

Great find Testing321 - it usually takes something really significant for a business owner to go and work under someone else's direction. He sounds very impressed!

Afternoon DW (AP!), hope you are well!

I believe this is good news from our latest investment

https://www.linkedin.com/posts/cellcube_cellcube-fb-500-2000-activity-6809014068926570496-4o8p/

Justsaythiscani, that sale of GGP really started the change of focus culminating with the change of Investing Policy to be voted on at the AGM later this month.

Greatland was Alastair Clayton’s baby as he knew the area/resources from his university days. The BoD sold it before it reached its highs so could have realised even more but that’s being wise after the event. It looks like a masterstroke now that GGP has languished between 19p and 22p more recently. Without the last sale the MUST deal wouldn’t have been possible without a share issue which would have diluted existing holders. The previous sale of GGP funded the last investment/warrants in Zuuse which has been a profitable hunting ground for PRIM in the recent past. Whilst the potential of GGP may be considerable I would back Zuuse, Fresho, Engage and Mustang to return more than 5x the investment sooner than GGP.