Member Info for zanmantate

Https://youtu.be/jNtjlX_8gPo?si=weXqzs7_xjeagFgZ

Gold at $4100 and silver at $50

What a time for MAFL!

Great find. Another article:

https://www.wsj.com/business/rio-tinto-to-roll-out-new-tech-in-hunt-for-more-metals-more-cheaply-958c1ed1

Yeah I don’t think there’s any validity in concerns around dilution. Since owning MAFL on and off for circa 8+ years there’s has been very limited dilution.

Indeed Jacques himself owns circa 20% of the share capital, he is the most committed of shareholders.

In fact one could make the argument a structured premium placing at the right time could be a positive move. The big criticism of MAFL is its liquidity. Imagine post golden sun liquidation and we’re sat at 100p (conservative imo). A premium placing to open up the share register to institutional and HNW investors would be an interesting move and would help liquidity. All speculation but worth considering, for sure any dilution would not be because we need funds.

I’ve bought from 6p all the way up to 25p. If we stay here I’ll be adding some in the 30s.

Very interesting interview. I’ll need to rewatch. One initial thought:

“We are moving forward with monetising that asset. We’ve retained an investment banker. We are getting a lot of interest in Golden Sun. “

Interesting Jacques goes on to say with regard to a monetisation option, ‘if someone wanted to inject $25 million into golden sun’. Seems a strange reference when talking about MAFLS monetisation options. How is that a monetisation option of our stake?

Is that the value he ascribes to MAFLs stake?

Yep. Our Cerrado shares alone worth 10% of our MCAP now. The sum of parts here is just insane.

You’d be mad to sell at this stage imo, until we get some meaningful information and updates regarding Golden Sun where it can be better understood and valued. Right now you could be valuing a £1 coin for 30p. We need to wait for a proper update which should come in the form of Half year results.

Agree with those figures shaz that’s what I had in my mind. Very interested to hear the latest.

Any comparison of LS to GSR I think is flawed as GSR is already cash flowing with a producing gold mine. LS is still optimising the DFS 6 years on.

I won’t labour the same point, although it is good to see some activity and debate on MAFL. Agree with Shaz, good to have different opinions.

It’s tricky as there is very limited public info on golden sun resources, and you’re right guvvi timings could be long into the future. However based on what we know, if you make some conservative assumptions around life of mine, AISC, taxes etc then as previously mentioned I believe a liquidated GSR stake would take us into triple figures.

Due to the tiny shares in issue 100p is only £37m MCAP. Off the top of my head, MAFL already has close to a third of that in liquid assets. Then you’ve got 20% of an operational gold mine to consider!

It’s been long in the waiting (8 yrs for me) but there’s a lot to be excited about here imo!

His sleeve contains a 20% stake in Golden Sun Resources which in my view is worth more than double the current MCAP alone.

JV specifically said they were looking to exit their GSR position with corporate interest already shown.

Movement in tactical investments is always great to see and supports a growing SP. But the game changers are always the strategics.

Take Golden Sun Resources. 25koz annual gold production with potential to grow to 50koz or even 100koz. Difficult to say without info on LoM, AISC etc but MAFLs stake (20%) in that alone could easily be worth £20m-£50m. We’re at £9m mcap with half of that covered by tactical investments.

JV has said they’re looking to exit the GSR position and have interested parties.

The two 20k buys are mine. No idea if the others are buys or sells above the mid. I imagine the latter.

Https://youtu.be/PoMKm6iYqvo

Skip the first 5 mins, decent update on Lagoa Salgada. Suggesting Q2 2026 for construction. No mention of EDM

Https://www.offshore-energy.biz/valaris-parts-ways-with-27-year-old-jack-up-rig-for-108-million/

You have to wonder how much that for sale is up for. A 25koz producer with the potential to run up to a 100koz producer.

At the current run rate, they wouldn’t be out of place at a US$200m MCAP, and that’s conservative imo. 20% of that, I’ll let you do the maths! Even more exciting if they increase their production.

Given the continued move in Gold, Luca, Cerrado and others, maybe you’re right and 30p+ is on the cards in the near term!

I calculate MAFLs gold and Luca mining holdings are roughly equal to our current MCAP. Everything else (of which there is a lot) is a bonus. I remember posting the same thing when we were 15p, so shows how far they have come!

In terms of Luca warrants, I assume we’ll have a lot more info Friday when warrants expire.

Impressive strength in gold and our Luca Mining Holding. Also great to see the turn around continue at Cerrado who obviously now have our LS project to progress.

I’m expecting some consolidation in gold and miners as their climb up has been exponential. I’d be very happy to see MAFL build a nice strong base in low/mid 20s, up 100%+ in a couple months. With NAV now probably close to 40p a 30-40% discount isn’t too far off historic norms. Any dip beyond that into teens is a buy opportunity imo.

In my view the next big kick up to 30s will be the monetisation of Golden Sun hopefully towards this year. Until then I think 30s is a stretch. For now I’m happy to return to quiet trading and churn in low 20s for a few months.

Congrats on the position Lewis. I’m sure Jacques will give you a very strong return over the next 3-5 years.

Yep I bought more at the start of the week and more today, forcing me to take little chunks as theres no volume available. This is going to 30p imo.

Any views on what MAFLs Golden Sun stake could be worth once realised? Not a bad time to be selling a big stake in a profitable and growing gold mine!

Currently NT to buy anything. I put a FoK in for 20k shares and got rejected. They need to move it up and allow a market!

They’ve broken their policy consistently over the last couple years paying up to 70% fcf as dividends.

With a growing cash balance and ever stronger commodity prices I don’t see a reason for them to buck the trend.