The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Anyone know the boards salaries off the top of their heads? If not I’ll have to hunt through the reports.
Its not just you nwgb I have wrestled with the thought of selling many times before, but while I have frustrations I see this as having huge potential over the next couple years. Commodities and miners have been in a bearish long term trend for a good few years, that looks to have finally switched now with Zinc, Lead, Gold, Silver, Iron, Copper and many more all smashing 52 week highs. Just look at our portfolio, 100%+ increases across the board. Expect interest in the space to pick up into 2021.
A 1p yearly divi for example would certainly help alleviate shareholder woes and make this an easier hold, particularly from an opp costs POV but sadly no cigar. Nonetheless I'll be adding if keeps dropping and the MM's sort the spread out. ATB All
Yes next update to Sept 2020 will be even better regarding NAV.
The bounce back in markets and commodities has been impressive since June but the biggest piece will be the ASND repayments.
Remember ASND were paying us $100k in June, July, August, September, October and November. So you can already add $500k of cash received from ASND since these results. $300k of that will be recognised in the period to September.
Delayed 70k trade at 9.35p. Someone’s keen for them. Interesting to see if it continues tomorrow
I’ve added today, very difficult to buy volume.
Looked to me like there was a recent substantial seller which has now cleared. Was hoping a little drop into 6s to buy some but didn’t get there. Looking much better, just need a little bit of volume. Very few shares around.
Agreed. Email him, share your views, question the current level of progress and communication. Thats what I've been doing the past couple years, not that he listens to me. I constantly bang on about shareholder value, maybe one day it'll get through.
He did say they are currently working on year end audit so that should be out soon. But yes payments still coming from ASND, commodities are flying could be worse.. Just need that to actually reflect in the SP.
Taken some more,M this afternoon, but can’t claim all the 50/100k’s.
Yep someones keen for shares today, only available in a couple hundred pound clips. Can't be many left sub 10p now
Current oil prices are 50% up from the average oil price in Q2. Q3 will surely be a good sight better assuming there’s not another crash in oil prices.
Thanks PJ23. The only reason I said that is because in an email exchange with JV regarding share buybacks and dividends that is what he quoted me regarding buybacks. However looking back that email was from last year. So that resolution must have been added for the most recent AGM this year! Very interesting...
Yep i've done a dummy buy now and then and I get NT every time even for £100 worth. Agreed nom, a buyback would be advantageous imo and I have suggested that to JV in the past.
Only thing to note is obviously MAFL currently have no right to buy back shares, that would need to go to an AGM and get shareholder approval. Something i'd certainly support
Theres not even much volume to drive the movement, very strange but I'm not complaining. Wonder if there's a leak for big news to land on Monday?
I do think its strange that directors aren't taking advantage of the low SP. Maybe because they are in a closed period?
Thanks Aiming.
I see a lot of disappointed and negative comments and posts, and for those here for years I can't really blame you. However the one question I'd ask is, have WSG ever been in such a fundamentally strong position? By that I mean revenue (one off and recurring), profit, cash, outlook regarding future projects. Surely at least from my time in WSG they are in the best position they've ever been in? Yet SP is close to all time lows?
I almost dare not ask, any recording of the webinar?
I've tirelessly stressed pretty much your message word for word to JV so he's aware. I imagine I'm the equivalent of an irritating fly to him so i'm not sure i've got much sway. I've highlighted the severe lack of liquidity and market interest in MAFL several times. I've resigned to the fact that my shares won't be going anywhere for a while, thankfully i reduced higher up.
Zinc through $2100 for the first time in ages. Gold through $1800. Both very positive for MAFL’s portfolio.
Good update. Yes they need that debt financing otherwise they will seriously struggle.
Consider the following 'worst case'. Ascendant can't keep up payments, pay for drilling, maintain current fixed costs etc and default. Ascendant would default to a 25% stake in redcorp, despite having made additional $1.5m to MAFL in payments and having already invested substantially in drilling in order to move their stake up to 50%. So we would have in effect got all that for free (i.e. without having to sacrifice any additional share of redcorp). JV would then have to find another partner for earn in but I doubt that would be too tricky. As a worst case that sounds pretty good. So all is not lost if ASND collapses, quite the opposite actually. Some may say that would be a positive outcome.
A good point that I has missed, thanks yrabs.
I'm not too clued up on the EPSA however I thought a set amount (1/12 of the 14m i.e 1.1m shares) could be sold each month. So they couldn't sell all 14m in one month of high volume they'd have to split it into 12 tranches, one each month even if there was especially high volume at certain points. May be wrong though that's just how I read it.
Only 1.1m shares to sell but we're down 4% today on 800k volume. Enough to put off any traders or those looking for a top up.