Member Info for wizard1962

With regard to the Zero Interest loan carry. That refers to MAFL's 20% share of the development cost, which will be recouped by Ascendant from free cash flow once the project is up an running. Once Ascendant recoup MAFL's 20% then essentially we get 20% of the profit generated by Redcorp.

It always has been clear. Redcorp owns 85% of the project EDM owns 15%. Acendant have the option to acquire 80% of Redcorp leaving MAFL with 20%.

So if Ascendant complete everything required and pay up. EDM will own 15% of Lagoda, Ascendant will own 68% (80% of 85%) and MAFL will own 17% (20% of 85%). With regard to the 15% owned by EDM......

Mon, 8th Nov 2021 15:56........Empresa Desenvolvimento Mineiro SA ("EDM"), a Portuguese state-owned company holds 15%, upon which M&FI/Redcorp has a right of first refusal. M&FI agreed to the repurchase of the interest with EDM. The Portuguese Government has withheld approval of the transaction. It remains M&FI's intention to conclude this repurchase.

So if Redcorp completes the purchase of the remaining 15%, instead of 80% and 20% of 85%, it becomes 80% and 20% of 100% of lagoda.

I'm not aware of any further announcements with regard to EDM's 15% but my understanding was their carry was only upto completion of feasibility, so I'm guessing there are active discussions still going on with the portugese government for Redcorp to acquire the remaining 15%

Thanks Zan

I'm struggling to find any info on the website showing the make up of the tactical portfolio...have a you got a link where it shows that information? Thanks

Very good news. The best bit is that this essentially derisks the balance of the earn in so MAFL can pretty much bank on another $5M dollars hitting the bank account as the rest of the milestones are hit whilst retaining 20% of L.S. with zero expenditure for MAFL. Therefore we can pretty much guarantee a healthy increase in the NAV for the next couple of years, its shaping up to be an excellent opportunity.
I looked at the technicals in my post on the 7th of Jan and the short term target of 15.4 should be easily achievable, then we start looking at the long term target of 20.2p. As the balance of the earn in payments come in that puts the target firmly on the horizon. Happy days

I know its annoying I tried to place an order earlier after we broke resistance and couldn't get more than 1000 shares but they'll happily take 50,000 so at some point they'll have to move it up to attract some volume.

Its been a while since I updated the chart so thought it would be good to have a look at where we are. The 61.8 fib retracement of the move from 18th June 2019 to 26th September 2019 seems to have completed and we have bounced nicely off the 200 day MA. We have now also broken through the 50 day MA and the 10.3 resistance line, that combined with the expected news all points to a retest of 13.3p and an extension to 15.4p for the next move.
Of course if the P.E.A. as as good or better than expected then there's every chance of a sharp spike upwards but even without that all the technicals look positive so the next two months look very promising.
Its been a while since the chart looked this good so though it would be worth sharing.

https://uk.tradingview.com/chart/hzd9y6yX/

MAFL is looking good for another step up in the next few weeks. The NAV has increased by a further 10% since the last update with another 500k in the bank from the third payment under the Earn-In Agreement. What hasn't been on peoples radar is the quiet increase in ASND performance. Their shares closed up a further 17% yesterday and have more than doubled since the end of November in anticipation of the P.E.A. and the movements in zinc prices and inventory levels. This should all be very positive for the Q1 NAV. Happy New year chaps

Tried DM on twitter but you have messages turned off, I'll try you again Monday. Have a great weekend

Thanks for the response RKB, I know you get some stick on here but I for one appreciate your insight. All the best

Ltd & Spary. I hope you are correct, if you think that is the case then you should load up on CLP shares now. From my perspective I expect to see a big chunk of the 54,218,847 shares being sold between the 15th of November and 15th of December regardless of what effect is has on the price so I would simply urge caution and for the time being I will be keeping my powder dry. That said I wish you luck and I hope for L.T.H's it works out in your favour.

You've missed the point LtdAxis. Lets say they sell £36K worth of shares at 0.10p per share or 0.05p per share what happens then? The point is there is no incentive for them to hold onto any of the original shares as CLP will make up 90% of the difference whatever price they sell them at. If anything the lower they push the price in those 30 days the better they do as they will finish up with more shares.

CLP is on my watch list, but I'm afraid this deal is mutton dressed as lamb so I would urge caution. Some seem to have missed the consequence of note 1 :-

"Between 15 November and 15 December 2019, ForCrowd is allowed to sell an amount of shares up to a value of €40,000. Should the share price at the time of sale be less than the price at which the shares were allotted (ie, 0.3483 pence), then Clear Leisure will issue additional New Ordinary Shares to ForCrowd equivalent to 90% of the difference between the sale proceeds of the New Ordinary Shares and the value at which the New Ordinary Shares were issued to ForCrowd."

Now think about what you would do if you were Forcrowd and what the share price is likely to do between 15th of November and 15th of December!

Well if this holds then we are looking for a test of 13.3 and then 15.4........ looking good.

If you read my original post I was responding to Marineville concerning why the share price was reacting the way it had since the last RNS, hence I was discussing the figures published for the 31st of December NAV. But whenever I simply try to give am honest assessment of why we are where we are I'm attacked....its just silly. Much better to have sensible debate and share the factual information and research we have.The reality here is we are talking to ourselves most of the time anyway, so much better to simply be honest and share what we know then we can all make informed decisions.

Shaz short of giving you the log in to my account here's a copy and paste from my HL share account

"Mineral & Financial Investments Ltd Ord 1p (DI) 400,000 7.50 30,000.00 "

I have lost count of how many times some of you have told me I'm talking rubbish only to see it turn into reality but if you want to carry on making the board a ramp fest not to mention making yourselves look silly.....carry on.

Zan. You told me I was talking rubbish when I said the NAV excluding LS would come out at 7.3p....it came out at 6.9. Now you tell me I'm talking rubbish when I quote the actual figures from the RNS. Those were the ACTUAL figures quoted by MAFL as at the 31st of december.
I estimate the working capital figure as of today is around 7.8p allowing for ASND share price at CAD 0.54 against the ASND price of CAD 0.40 when the NAV was published and the USD250k earn in payment.
As for the value of LS....those figures aren't my figures they are J.V.'s own figures. So try thinking about what you say before you say it !
You seem to suggest I'm trying to talk it down....So I'm trying to talk down my own holdings which are currently 400,000 shares. I'm not that stupid. If you engaged in sensible debate instead of trying to constantly ramp and looking through rose tinted glasses you might get somewhere.
If people look at a board they can see through ramping or deramping straight away....Far better to present a true picture then people can make informed decisions and we can all learn something. Now if you want to debate the numbers sensibly fine...but otherwise...........

By all means bite, if its sensible debate I'm happy to go through the numbers....though they are taken directly from the RNS so there's not much to debate. Just don't go down the "I'm trying to talk it down road" as trying to talk down my own shares would just be silly.
The debatable bit is the valuation J.V. has put on L.S. In my exchanges with him I'd suggested 1.2 million dollars but that was before the last ASND drilling update. He's now put it in at 2 million pounds with the benefit of the latest results so I can fully appreciate why he has gone for that figure.

Its not rocket science despite what those looking to ramp the share will say the reality is working capital is £2,396,320 or 6.839 pence per share they have then added £2 million for L.S. but that's based on Ascendant following through with the earn in and so its jam tomorrow not jam today. L.S. certainly has the potential to deliver the £2 million and possible much more but its potential as opposed to what could actually be realised today.

So the bottom line is if you think L.S. will deliver, then 12.54p is a sensible NAV. However if you want to value MAFL at what its assets can actually realise today then you are looking at nearer 7p. Thats why the share price has been falling and for the time being why we will be in this price range until at least the next round of drilling is completed.

I'm not trying to ramp or deramp, I'm just giving an honest perspective of where we are and why and before I'm accused of deramping, I still hold shares here, so I have no interest in trying to talk it down, just trying to introduce some realism into the discussion.

LOL....I had just finished typing a long review of the NAV, the numbers and the outlook but in light of the comments here I think I will keep them to myself instead.....However, just for fun........ Brownie points to the first person who can point out to Shaz why these results are actually slightly worse than I'd forecast.