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Genuine question, i'm curious people seem surprised at the fall in price towards the end of the month. YA/Riverfort will have another circa 1.1m shares to sell from Monday onwards right? Fall in price in anticipation of that hitting the market makes sense? That'll need to be churned out over the next week.
Yes I was also listening with frustration. The Q&A segments of those sessions I find very good, hopefully he joins in a subsequent week.
WSG is currently sub-nominal, produced a pre and post tax profit in Q1 and you think a placing is expected? Can they even place shares sub nominal? Directors wouldn't be able to buy in the open market if they were planning to place shares anyway (plus they'd be mad to do so)?
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Only thing to add to that is there were two other key parts to the deal. The buyer taking all existing liabilities (circa $25m I believe) and a royalty agreement to continue cash flow. As you say they're now solely focused on Lagoa Salgada, and hopefully securing some debt financing to help fund the drill campaign (no money required from MAFL). Great play and praise should go to JV and team for how this is panning out.
Very nicely done dontpanic, I recognise your tag from the early MTR days and happy to see a LTH with some success, we’ve had little here! Hopefully better things to come. ATB
On second reading of my notes I think the 80% will unlock a further US $2.5m and a feasibility study. I think the extra $3.5m I had are the payments will currently receiving now. Still have some big payments of those to receive too.
Nice to see some buys coming through. Surely we should get an RNS from MAFL confirming the news and its impact on MAFL.
Yes well noticed Shaz, just seen that too. Ascendant up 57% overnight. Key point for me:
"Company to focus on the highly prospective Lagoa Salgada VMS project in Portugal Sale to provide cash injection and immediate strengthening of financial position. Upside exposure to El Mochito and zinc prices maintained through royalty".
If there was any doubt whether Ascendant would increase to an 80% stake in the Lagoa Salgada Project I think that puts it to bed. So what does that mean for MAFL? Ascendant moving up to an 80% stake would unlock further tranches worth US $6m of direct payments and completed Feasibility Study on Lagoa Salgada.
MCAP £3m with a NAV of already £6m..
Any major differences from q1 presentation?
Results should come out this week, FCA announcement to delay results for a period has now expired. Hence RRE’s results today. Should be a good read.
Tried to buy more but straight to NT
Lol The tranche i was referring to was for 12.18p to be precise, can’t remember the day. Adding small pockets here and there when I can.
Big trades at 13p just now
Me too at 12.2p. Wonder what will get this going back up to 20p... Surely some large holders will
Be thinking about averaging down at these all time lows.
From SDX’s Twitter account:
#SDX note the low oil prices, and would like to reassure shareholders that at US$55/bbl Brent planning price, approximately 80% of 2020 and 90% of 2021 forecast cash flows come from our fixed price gas businesses in Egypt and Morocco #OOTT
This bit in particular I was looking out for in reference to gold, silver and US markets.
“Your company's portfolio is overweight in precious metals and therefore could benefit from the rally in their prices since the end of Q2. Additionally, as our concerns about general market valuations have grown we have acquired a position in ProShares UltraPro Short ETF. The position cost us some performance in Q2, but in February 2020 they have rallied from $16 to $23.76, as at the writing of this statement.”
Hi Wiz, January investor presentation at the link below (think it’s only recently been added). Tactical portfolio info on page 10
https://www.mineralandfinancial.com/wp-content/uploads/2020/02/MFI-Investor-Presentation-January-2020.pdf
Reminder that as part of MAFLs tactical portfolio from there Jan 2020 presentation they hold the ‘ProShares UltraPro Short QQQ ETF’. Global markets have collapsed recently while that etf has jumped 50% in a couple days. Looks like JV knew what was coming!
If not intra day hopefully NAV update on Mon.
I’m betting on a NAV update tomorrow. That could set off a few sparklers :)
Maybe a hint out how JV is going to improve liquidity as suggested too
Gold through $1600, silver above 18.
30% of the portfolio in precious metals and we’re down.. maybe a share buy back is the way to go