Member Info for zanmantate

Averaged down recently too following strong movement in copper. Still have a high 1’s average but with MOD DFS out in the next few weeks expect to see some recovery now the placing is done. Considered buying straight into MOD but I think even at this price we are undervalued based on MOD’s SP as somebody articulated this week on here. Seems to be moving pretty well atm

Decent day of volume, fairly obvious somebody wanted out after the NAV update with over 1% of shares in issue sold today (anyone hazard a guess at who?) ;) But good to see some decent buying power in low 8s.

Reading the RNS it was all about getting LS on there. Even if they're only valuing our 75% stake at £2m, which is clearly very heavily discounted considering we sold 25% for £1.9m plus all the money Ascendant are pouring in to develop the asset. Working capital was always going to take a hit when you looked at where things finished end of 2018. But Ascendant now almost 40% (worth circa £200k?) up from that point, Gold, Zinc, Copper etc have stormed ahead and we actually increased our exposure on that front. Few exciting new plays we've got exposure to as well, happy with progress myself. Bring on fair value!

If people don't want to invest in a company valued less than cash and liquid assets, director holds 20%, no need for placings etc, then not much anyone can do about that. The SP will follow eventually, key thing for me is to see the companies cash holdings appreciate in value.

Not sure what you mean, bang on what I hoped for, and at over a 35% premium to current trading i'd say that was pretty marvellous. Some on here were saying this was going to be circa 7p - 10p, not sure who was hoping for much more than this.

Remember ASND shares already 20% up from this NAV, copper, gold etc. Wouldn't surprise me to see a 14p-15p NAV next time and if commodities keep moving even more. Very happy with progress and reaffirms why I'm here.

So as calculated, currently trading at a huge discount to cash and liquid assets let alone including our 20% free carry of a 20mt mine and the increases we’ve already seen realised since Dec31st in metal prices! Also great to read we expanded our gold and copper interests in Dec and Jan. Take a look at the 6 months chart there!

Time for the market to wake up, this should be trading in teens.

No that makes sense to me Ras, so included in the next NAV - but will defer to 6z and anything he finds. On the topic of our next NAV it’s also worth highlighting the price of Zinc, Gold, Copper and other metals have soared since Dec31st. Gold in particular which we have sizeable interests in has rocketed recently.

Also our Ascendant shareholding has currently increased in value by 20%+ since then. Expect to see a large increase again in the next NAV and consistent increases throughout the year after that.

My view is on the dip down to 5p a few investors accumulated large chunks of shares for very cheap prices. We saw a few TR1's and director buys explaining this. While I think most will be sticky some will no doubt be traded off. We also know from wizards post she had a fairly large holding (go through her posting history if you like, its on there) and has sold a good lot and potentially selling more due to her expectations of NAV (wouldn't surprise me if yesterdays £5k was hers, but just a guess).

I also think a few twitter traders I noticed sold their holdings on last weeks spike, so just healthy consolidation on what is probably 80%+ profit for sellers. Over time people will accumulate with eyes on the bigger medium term goals (20p? Divdend?). That may happen this month, maybe not, but I think the NAV will clear up a few questions and maybe bring some more attention here.

You bought back in marineville?

I've given my figures as promised. We'll soon see how they value it all. I may be wrong, and will admit so if thats the case when the figures are released. Thats why its so important to DYOR.

Apologies if I have offended you that of course wasn't my intention. We disagree on a fair amount of things, MAFL and related postings, not about to start a feud on anonymous BB. Wont be following the next few days due to other commitments but am very happy and confident here. ATB

NAV 30th September 2018 - £2.36m/6.78p per shares

Since then:
- Acquired TH Crestgate for £100k, "increasing MAFL's working capital by $900k".
- Sale of 25% of TH Cresgate for $800k cash and $1.65m in Ascendant shares (based on their SP at Dec 31st i'd say that was probably worth about $900k). Of course they may have sold some at higher prices?

Totalling that up (£2.36m - £100k + $900k + $800k + $900k) gives you £4.28m or just over 12p per share.

Of course our original Nav may have changed from Sept 30th but thats quite hard to calculate. Zinc finished the year poorly, but Silver and especially Gold which we have a strong position in finished very strongly. Also have any of our private holdings progressed or been monetised? Furthermore we have incoming payments at a minimum value of $3.5m for 25% of LS possibly increasing up to $8.6m for 80% of LS over the coming months and years. Will this somehow be included in calculations or used to value our ownership of redcorp? If so we could be looking at an even higher figures.

All these figures are taken directly from the RNS's, however as always DYOR, do you own calcs and come up with your own figures. Nobody should trust me, wizard or anyone else on an anonymous board - everyone has their own agenda. Happy to corrected on any errors btw :)

Only thing i’ll say is, I don’t have a problem with people selling obviously. Nor do I have a problem with traders. It’s people who post on BB’s to mislead and influence other investors I have an issue with. Don’t listen to anything which isn’t 100% based on figures from an RNS, and even then DYOR. I’ve said my view on what the NAV will be. That’s based on figures from RNS’s which I will be happy to share later this evening but at the end of the day it’s my view. Everyone needs to make up there own mind and not be swayed by anonymous BB posters. It’s all there very easy to find.

Also this didn’t fall today because the market had priced in a 100%+ increased in the resource (ridiculous thing to say). It fell because traders sold on news. Nothing more.

Couldn’t disagree more Wizard, you valuation is laughable. Your posts which turn every month to suit your agenda shows your true colours. At least we know the seller and they’re almost out of ammo.

Selling is one thing and that’s fair enough, but scaremongering on a public board is poor show. NAV is next week maybe just after, let’s see if it’s 7p or well north of that. Yes ASND shares have fallen, but gold and our other holdings have increased. CASH payments also received from the farm out. Disappointing post wizard.

Agreed, let the traders trade. This morning we had a 10mt resource, this afternoon we have a 20mt resource. Ascendant payments all but guaranteed with that I imagine. Classic releasing this news over lunch time too.

Huge result, hopefully few more people will do some actual research into MAFL and understand the investment case on the back of that update. NAV update next week I imagine. Very exciting

20.7Mt!!!! Hold onto your hats what an upgrade

Just released resource upgrade- “Project more than doubled its previous mineral resources with modest drill program ”. Link:
https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2019/Ascendant-Resources-Reports-Outstanding-Results-of-Updated-NI-43-101-Mineral-Resource-Estimate-at-the-Lagoa-Salgada-Polymetallic-Project-in-Portugal/default.aspx

RNS Imminent?

Yup good base formed at mid 9s and RSI nicely cooled off as well. Bring on the news flow!!

In an email exchange I had with JV he confirmed neither MAFL or Ascendant were in direct control of the timings for the resource update. The report is being done by Micon.

From his reply to me he seemed reasonably optimistic that the report would be ready this week. But as timelines are out of MAFL’s control it is hard to say exactly.

Have to agree, very obvious this was coming. Everyone will close their shorts on this private placement and get some cheap warrants. Warrants should at least be tied to the new shares, but no surprise that hasn’t happened.

Outstanding prospects but sadly it’s the big cats at the top which will make the real money here. On the bright side I see MTR doing well from here assuming copper does okay. Can see 2s in the next few months. Still holding a chunk of shares here but will get out as soon as I’m in reasonable profit. Board and key investors and bent imo. ATB

Evening all, only thing i'll chip in from having a brief flick through over the weekend.

D14: "ED revenue will only suffice unless additional pads are constructed on sections 31,32 and 33,34."

It's been confirmed by RP and the team to a number of investors that the ED 7.5% deal is not tied to those specific sections. So additional pads could be build and drilled elsewhere under the original terms defined. Hence the future of the True deal is not necessarily a binary decision based on the Renegade situation - For me that's a very important part of any discussion regarding further ED wells with True.

Surely resource upgrade this coming week (Monday?) and then NAV update the following week.

Decent churn around 10p, next leg up should be a good one. Looking forward to my 12p shares being in profit again

Nice chart Raz. Had a couple of TR1 notifications recently and PI’s don’t tend to do that just to sell a few months later. Not many shares around either.

Fundamental case is strong everyone’s holding tight for a more reasonable valuation (even wizard for the most part!). I still think we should see low teens by the end of Feb. Been adding at every opportunity all the way from 6s to 9s