Member Info for zanmantate

Zinc nicely above $2400 now another 2.5% up.

Surprised to still see MTR down here. Very good proactive interview earlier today, interesting comment from MM ‘time for MTR to grow up’. Well worth a listen. Buyback next?

Zinc up 2.5% today and looking a lot healthier, long may that continue. Copper also up above $2.6, didn’t we just find a massive load of copper?

Liquidity is already pretty low, I don’t think a share buyback would help with that imo. I’d support a dividend for faithful LTH’s but not sure how likely it is

CEO of MTR has recently announced he’s considering a share buyback to bring the SP up to NAV so it’s not unheard of

‘the Company is considering future investments and believes that investing in itself, via a share buyback, could be the best use of capital for the Company. Eliminating discount to the net asset value’

Yep $2300 has been some stubborn resistance but hopefully we’re clear of that now. ASND up circa 6% too

I exchanged some emails with JV recently and due to MAFL’s Auditors being acquired by a large company MAFL are switching auditors hence the delay in NAV updates. Updated NAV expected second half of October.

Some good images in the ascendant release. Really emphasises the further exploration potential:

https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2019/Ascendant-Resources-Increases-Measured-and-Indicated-Resources-by-71-to-103-Million-Tonnes-at-91-Zinc-Equivalent-Grade-in-the-North-Zone-at-Its-Lagoa-Salgada-VMS-Project-in-Portugal/default.aspx

https://investegate.co.uk/mineral---financial/rns/investment-update/201909251457296720N/

Very nice day, and it’s been coming. Should have one or two more two imo. When you say market makers are buying at 12.5p, you mean they’re just taking the other side of the sells? Surely just usual behaviour?

Interesting.. Not many people bailing at a 10p bid either. Is MAFL’s time finally nearing?

They are some stonking copper grades and lengths. Great article as well.

Lagoa Salgada could really could transform this company from a micro sub 10m mcap firm into a small if not medium sized company. And that won’t be achieved by dilution, but share price appreciation. Very nice.

Evening all

I can see a few others have cottoned on that the recent rise was a bit toppy to say the least. 19.5p hasn’t held which i expected some support at so as mentioned a couple days ago 18s and maybe a dip to 17s would surprise me. Lots of great short term opportunities out there in the market so traders bailing no doubt. If from 16p still with a 20% profit.

I do think we’ve seen the last of anything below that though. Plenty of time so we’ll see what happens next week.

Timing is always key with stocks irrelevant of the fundamentals, I learnt that the hard way. Have a good weekend all

I believe the pipeline has the capacity for 120MMscfd from memory.

Very true Southmead, just had a more detailed look through the results and have spotted that. I think my point of upcoming news flow still stands though as a development well has never got the market excited before, if anything I think we've fallen intraday on past development well successes. All eyes are on further exploration and SD first gas. But yes you're right, we'll be expecting that news at some point.

Interesting thing for me is while MAFL's key exposure is to Zinc, it also has strong exposure to precious metals (Gold and Silver). While it is generally thought zinc and other metals like copper will suffer in a recession, precious metals tend to do extremely well (and have in the past year with so much economic uncertainty). So while I think its good to question your commodity holdings, I think MAFL have a nice balance to help hedge the risks of a recession.

Having said that Ascendant Resource share price is at circa 3 year lows, and thats after we increased our holdings there so that will have a fairly heavy impact on our NAV.

Thanks 42trader, and yourself.

Appreciate your thoughts and chart, that downtrend trend channel certainly looks like the one to break.

My issue with the recent rise is it looks like it was mainly fuelled by traders. We need institutions to get back on board for this to have any meaningful rise and break that resistance. Although it does look like the offloading has finished so I’d be fairly happy to say we’ve seen the bottom at circa 16p.

Medium term (3 to 6 months) I’m in very little doubt these prices will be long gone assuming no further delays at SD or other bad news (lack of customers in Morocco for example). Fundamentally very strong. In the near term, it’s difficult to call as you say. Due to the shortermism of aim investors and lack of upcoming news flow It’ll be interesting to see if 20p holds. If not I’ll look to start phasing in 17p-19p. Again I’ll watch next week and see how it looks, and where it consolidates. Any views on the order book or technicals next week feel free to share.

Thanks, all the best.

What news are you expecting imminently topsharepicks? Unless I’ve missed something sounds like it’s going to be a quiet few months until first gas at SD. That’s where all the concentration is going, and rightly so.

Ahh good ol malcy. I personally wish SDX would drop him, waste of time/money imo should stick to proactive interviews.

Evening all, fair to say it’s cooled off a bit with a few traders heading for the exits before the bank holiday weekend. Will carry on watching with interest next week, hopefully I’ll get my target entry point. What your next support level 42trader?

I’m definitely no trader so happy to defer to your expertise. I look at technicals for entries but tend to hold for the long term (which I did for a few years in SDX).

Haven’t been around to follow the order book but got the impression the rise was was a bit rampy. Plus 40% in two days, it’s got to cool off somewhere, maybe not tomorrow but there’s a good few months before any more news. Will poke my head in tomorrow to see where it’s gone. Hope it works out for you. ATB