Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sorry to see for all holders. Great news imo that PW has left, i too expect and hope that he was forced out as the delays at SD and how he kept shareholders informed has been shocking. I sold out as soon as the first half of 2019 was looking shakey but I’ll certainly keep a keen eye here as this could be one incredible bargain come Q3 leading up to SD coming online.
Morocco is slightly worrying and surprising but hopefully a solid CEO comes in and straightens it out. The potential there is still huge. Best of luck all
Hi sher-lock. I posted something very similar to you a few months back - see below. Just highlights how chronically undervalued we are imo. Literally just a case of waiting and watching it play out how we think it’s going to play out.
“Something I’ve been thinking about; Ascendant have agreed to pay MAFL a big heap of cash (assuming take up of 80%), spend an even bigger heap of cash on developing the asset, fund further drilling, a DFS and then after that all the costs to production. All these terms and requirements are dictated by a company with an MCAP of less than £3m all of which is backed up by cash and liquid assets (including 3% of ASND’s share capital). So theoretically if someone was to buy MAFL at this price a large part of Redcorp/LS comes free. Pretty appealing I would have thought to a range of parties, especially Ascendant themselves.
Ascendant could put in say a £10m bid for MAFL get 100% of Redcorp/LS and be done with it. Obviously that’s on the wilder end of the spectrum, but potentially more reasonably maybe building up a stake in MAFL? Thoughts anyone? Feel free to shoot me down“
Fair enough - agreed. Are you referring to the June ASND payment 6z or something else?
Interesting thing for me is they’ve now stopped differentiating between working capital and the current value of LS. Clearly they’re happy with the confidence they can monetise the asset as they’re classing that for the first time as working capital.
6z, you’re sure the working capital figure doesn’t include cash?
Hidden good news? Look at the oil production results, a sub 8% decline curve for our new wells is fantastic. Hemp update expected in the near future and we all know how lucrative that can be if targets are met.
No hidden good news imo, just the market getting to grips with our value. But who knows, more wells in ED?
It’s amazing how you can type a paragraph and actually say almost nothing of any value or meaning. Bb’s should be used for discussing facts and evidence.
As MM has pointed out this week we’re currently trading below enterprise value, and that’s assuming a sandfire value takeover. Also thats ignoring various other sources of value and any exploration upside as some have clearly highlighted here. There is value to be had for those researched.
Of course there’s risk and speculation, you’re in AIM not treasury bonds. This has been pumped and dumped - clearly. But unlike 90% of the trash in aim this has some underlying value and upside. Copper price is the key part for me and I’m happy to hear criticism based on weakness in copper for example. But your post there is mindless drivel that adds no value to the board. It’s no wonder I dont come on LSE much, the level of discussion is dirt poor. I think that’s been emphasised this week from reading through posts. Jeez folks
And an MCAP of £175m assuming no dilution. Careful, wiz will be on you calling you a ramper soon :)
Anyone care to fill the void and speculate on what news we’ll hear next? I don’t expect ASND drilling updates for a while yet. 6z I vaguely remember a comment from you while ago about something nobody’s thought about happening in the next 6 months? On my phone so won’t trawl through your posts.
And current NAV likely even above that with decent portfolio performance and the first payment from Ascendant. Saying that, not much going on here regarding trades is there!
Zinc LME Warehouse down to 50.88kt!
Get a sandfire - esk buy out of MOD for $0.8/share or anywhere around there and that trading arm becomes a drop in the ocean.
The trading arm investments may increase, or they may fall, but instead of focusing on the couple 100k we have in GGP etc, I’m focusing on MOD. Let’s get those drills finished at T3 and over to A4 and T20
Yeah not looking likely, seems to be decent demand and plenty of sticky holders around this level.
Wouldn’t take more than a couple of ISA’s coming in here to really get this moving into low teens and closer to NAV. Really is exciting times with that exploration program confirmed and zinc flying to 10 month highs
Confirmation of exploration program
https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2019/Ascendant-Resources-Announces-2019-Exploration-Program-at-Its-Lagoa-Salgada-Project-in-Portugal/default.aspx
Yes apologies I stand corrected my memory failed me. You’re right, then possibility to increase it further to 80% by completing a DFS and making a further $2.5m payment.
Bodes well indeed
Yep - great exploration program. 20mt may seem like a distant memory by year end! That’s some heavy drilling!
All this for a £3m company, roughly all accounted for by liquid assets. Plus up to $11.5m (from memory) in payments from Ascendant assuming full take up leaving MAFL with 25%, and they seem pretty keen. Including fully funded exploration and DFS. Oh and the mines in Portugal, close to ports, good infrastructure etc. Well under the radar and have been adding a few in 8s
Thought I'd take a look a MAFL's publicly traded holdings at todays prices (March 31st) and compare that to our last NAV update as of Dec 31st 2018 (i.e. 3 months on):
Ascendant Resources 26% - i.e. worth roughly $215k more
Alamos Gold 38%
Trevali Mining -5%
Imperial Metals 86%
Cabral Gold 8%
Artemis Resources -50% - Do I remember we closed this position a while back?
Gold 1%
Silver -3%
Platinum 3%
Copper 11%
Zinc 17%
Other points to note is the receiving of $250,000 from Ascendant. This does of course not include any privately traded holdings, or any future payments from Ascendent and is a very simplistic analysis, but nonetheless looking very positive in my view. ATB all
Resources on another surge. Zinc nicely above 2900, copper at 2.94 and gold back above 1300.
All our holdings looking very strong for the next NAV update. Haven’t crunched the exact numbers, and we don’t know values of ETF holdings or other small cap plays etc but I’d be surprised if we’re trading at any meaningful premium to liquid assets. I.e no value attached to LS
New Contract Award – UK Police Knife Crime Prevention
https://www.wsg-corporate.com/news/new-contract-award-uk-police-knife-crime-prevention/
Can’t say I use LSE too much any more, but a good couple months ago I remember someone saying exactly the same thing about FLYB when it was in the teens. No idea if they followed through with it, but for there sake I hope not. Tough market out there.
I think it’s fair to say we’re probably nearing the bottom of our trading range at the moment (although you never know), money in at 8.5p and business case has significantly improved with near term cash flow and profitability.
I’ve personally never gone ‘all in’ on a stock no matter how crazy the valuation. Diversification is key for me. Just my opinion and no advice intended. DYOR and follow your own views. ATB
Ann: MOD Delivers 61% Increase in T3 Ore Reserve to 34.4Mt
Available in 10 mins
So, the naked truth posts something you don’t agree with on your share so you mindlessly troll a share he posts on ATG? What is this primary school? And you pay for your LSE membership too... ATB with catching your knives over at PHD, may well work out for you