Member Info for zanmantate

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

MM’s have really kicked that spread out recently, close to a 10% spread atm. Not much stock around?

Zinc up another 2.85% today tearing through YTD highs. Great spot on Imperial metals up more again today and well over 100% since Dec 31st.

Great results mostly confirming what we already knew, really liking the strong gold exposure. Good article below released today:
https://www.proactiveinvestors.co.uk/companies/news/216204/on-the-cusp-of-a-world-class-asset-mineral-and-financial-offers-broad-exposure-to-commodity-markets-with-particular-upside-from-a-growing-zinc-resource-216204.html

Great post. Is this the first time rick rule has himself personally taken MTR shares?

Ascendant almost 10% up across the pond. Zinc on the rise

Thanks for the responses both, interesting to see it play out.

Bottom in this week? Looks to be pushing nicely off those high 7s. Roughly a third of the total share pool has been churned since Jan 1st when we first pushed into 8s so good volume of new holders in 8s and above. Nice consolation

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

Lots of lessons learnt here for me and a fair few people I imagine. There’s been times to sell and times to buy, for me it’s now the time to buy. I’ve done so over the last few weeks. I don’t doubt we’ll hit the heights of 2’s before long, but that’ll be dictated by the big boys. All eyes on DFS.

Im a bit behind on the exploration program for the T3 and T20 domes? Anyone help with where the drills are atm?

Fair enough, I agree with all of that. All about basing things on figures and facts, and discussing plausible theories. And yeah, we’re just talking to ourselves really

No issue with the figures, just you saying that is our current value - read my post. That’s wrong, it’s december 31st’s value. No issue with RNS figures. And everything in my post just then was factual

7.8p, I’m not my phone but that’s better. So we’re currently trading at just under our estimated current working capital, forget everything else. That’s sounds better doesn’t it wiz? And truer than anything in your first post. Think this debate has been very sensible and based on facts and figures hasn’t it?

Just landed on holiday so won’t reply to any personal jabs below. Good to hear your holding 400k. Atb

I couldn’t resist..

Lol wizard. Working capital WAS £2,396,320 or at least say is £2,396,320 as of Dec 31st. You talk about being honest so let’s try and be accurate hey? As you’re talking about working capital and actual value as of today, you’ve left out that since Dec 31st ascendant has increased by over 40%, care to tell the good people how much that adds onto our working capital today? Also add in our first Ascendant payment. Zinc, gold, copper all up. You don’t care to mention this in your honest, unbiased posts? All facts as of today, no ramping or decamping. You’re honest estimate of working capital/true value as of TODAY is well north of 6.9p, but keep that to yourself. Keep trying to convince people you and your ‘sticky shares’ are honest ;)

Also that’s not why the share price has fallen, that’s not a fact but a guess. It’s fallen because there’s more sells than buys. Some of those sells we know were you. So before you start saying how great you were to predict the price would fall, you’ve actively contributed to that. It’s like turning a hose on and saying it’s going to be wet soon.

Lol at your LS comments too, nothing in investment is certain well done for highlighting that. Of course there’s risk but looking at it rationally with the facts we have, we can see with fairly strong likelihood that LS will be worth a lot more than £2m. Keep it going wizard, I’m here for a while.

Btw how about for realism you give us your best guess of working capital as of TODAY (27/02/2019) :) ATB

Seems to be a background buyer loading up on weakness in 50k’s. Good interview yesterday too confirming we’ve received our first payment from Ascendant and an ambition to get a 50mt resource - they seem confident! Plus zinc up close to recent highs

I think 6z makes an important point, any comparisons to historical price movements is when we were at a premium to NAV. I.e. adding value on top of that which is highly speculative. We're currently well below NAV for the first time, hence you're not speculating on a drill bit, or a project coming off as that's already happened - the value just hasn't been realised in the share price.

We know how much Ascendant are going to pay us over the next months and years, yet the market has valued that at zero. Unless the sky falls down that money will be coming into our coffers yet here we are. I keep saying it but look at gold, copper, zinc and ascendant - all flying again today. We know we hold large amounts of these at lower prices. Our current working capital will overtake our MCAP soon!

Another decent day of volume, more large chunks of shares sold (Wiz you out yet?) ;) Once people hear and understand the story here fundamentally its hard to argue with imo. PR and interviews will help with that. BTW marineville if you didn't see my post regarding Halifax go through my history as I explained why they don't trade MAFL a few weeks ago :)