Member Info for zanmantate

Guinea will "uphold all its undertakings (and) mining agreements," he promised, stressing "its commitment to give favourable treatment to foreign investment in the country."

https://www.france24.com/en/africa/20210906-guinea-s-coup-leaders-vow-to-form-union-government-respect-business-deals

Cheers for all your informative posts over the recent months/years NewKOTB. From a silent SQZ shareholder it’s been a bit of a slog but the screw does seem to be turning - well highlighted, as always, by your posts below. Looking forward to said RNS in coming days. All the best.

Agreed I see CAML showing net cash for the first time in the upcoming update.

I do think it’ll be close though and I don’t think we’ll be far over the net cash boundary. Nonetheless it’ll be a huge moment and is a clear sign post for a huge uplift in shareholder returns.

Evening all, just checking in and nice to see us still above 10p. I note Ascendant conducted a private placing today to raise funds for a new PEA and no doubt to fund our June payment.

Disappointed to see in the new presentation we have a short copper position, seems a very odd one to take. Also a strong pound will be negatively effecting out NAV too. Junw payment will nicely offset though. Agree with recent comments we need to move away from NAV and toward bringing the huge potential of LS to the forefront. ATB all

I rarely grace LSE anymore but thought id check in this once. You fellas are on a wind up surely..

"How does a company pay back 9 million in debt out of only 3.5 million generated?"

i'll tell you how, at end of Q4 HUM had $11m of actual cold hard cash, check the RNS. In this quarter they used that cash to pay down debt - cash goes down debt goes down net debt is unchanged. As has been rightly stated its a zero sum, any changes to net debt show earnings/losses for the period. That is how we've paid off 9 million in debt when we've only generated 3.5m this quarter and it entirely makes sense - cash should be used to pay down debt.

Suggesting we must have earned more because we've paid off more debt is outrageous even for LSE. Anyone reading this; disregard this entire thread and read the RNS's, all the figures are in there.

ARS and ARCM are my other copper plays.

ARCM coming to the end of an exclusivity period with Anglo American on their very prospective discoveries to date. As an alternative to a sale/JV with AA, they would take it to production next year. ARS have two large copper projects, one just needs financing agreed for construction and production.

Looking forward very much to CAMls results this week. 10p - 15p final divi please!

FYI the current pellet premium for 65% fe ranges between $40 to $50. So add that onto the current $190 spot.

Lots of discussion over fair value by year end. But give yourself a 5 year timeline, in the current macro environment we’re talking an SP in the thousands not 100s imo. Clearly depends on the fe fines but at this level, debt free and increasing production i genuinely think over a timeline of a couple years you’re looking at life changing returns, capital gains and dividends.

Thanks both for the replies!

Morning All

First time posting on this board but i've been building a position here in the last couple weeks. Big thanks to the regular contributors for some informative posts in the past, they certainly helped bring me in from the cold.

Hoping I can get some help in validating some of my calculations. Earlier day Thairsa's twitter account tweeted a PGM basket price of $3500. See here: https://twitter.com/tharisa_sa/status/1361905888634822658?s=20

Based on this I get circa $560m annual revenue from PGMs alone, post discount for smelting i've got it coming in at circa $475m. Does this match up with others? At current spots for PGMs and chrome i'm then getting circa $240m gross profit?? Difficult to believe compared to MCAP, appreciate any comments if i'm missing anything.

Darlonil see a post I made a couple months ago:

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 $2.1m 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 given the current environment and recent drilling assays

Yep we’ve seen a fair few who bought 11p+ exit today for a tidy loss. Most of those 50k sells you can match to buys in the last couple days. I think there’s still some traders holding out for one more spike so am holding off for buying as they’ll be gone shortly.

MAFL isn’t a share you can trade easily unless you trade the cycles like Nom does. The spread, lack of liquidity and long periods of stagnation kills you. If im honest I personally don’t think this will be our year, 2022 and 2023 is where we’ll really see value. Get that DFS done and we’re off to the races.

Well there’s your NAV update. Very surprised it’s pretty much unchanged from June at circa 15.5p, despite receiving cash from ascendant. Looks like a strong pound has negatively affected a lot of the investment valuations.

Let’s see what the market thinks.

The way I see it, despite the impressive work to date, Lagoa Salgada is still at a relatively early stage. We have a PEA for the north zone, but it’s clear much more drilling is needed to expand and validate that. A full DFS then needs to be completed to get us into the road of turning it into a producing mine.

Ascendant have no cash and therefore progress has been, and will continue to be slow. They of course need to fund our contributions as well as drilling.

In the mean time we have lots else going on bumping up the NAV, but the market doesn’t seem to care about that. True value will out but imo that’ll take years as the LS asset develops. I think I’ll be buying up another load then switch off for a while.

Bring 8p on imo. I’ll be buying more

Remarkable ascendant (for those new here, that’s the TSX listed company funding the drill campaign with 25% stake in the resource) are actually currently down on the day by -2.5%. Very surprising given the impressive grades

Volume off the charts from today. Almost 10% of the shares in issue changing hands? Absolutely crazy

Well this has an exciting day! Did we hit 60% up at one point? Wow.

MAFLs clearly picked up by the P&D crew, many of whom have probably started posting on this board today. Not surprising with its tiny MCAP and free float. But don't let that distract you from this being an incredible company. Fundamentally over the next couple years this will turn into absolute gem of a company, but that will take years not weeks. Those grades are outstanding and further validate that, but there's still much work to do.

I'd encourage anyone looking in to do some research and come back when the traders have gone. You'll uncover a gem of a company. We need LTH's here not traders, without that it'll fall back down to 8s and lower imo. ATB all

Completely agree Nom. I hold a lot of copper producers and explorers as well as other base metals. Its a very bullish outlook imo

10.5p to buy any now. Q3 NAV update due anyday now as well as Ascendant assays and getting some decent interest from outside this board which makes a change. Fair play on your trading parcel, I'm selfishly hoping it doesn't :) Not too late to change your mind and tick us up into close Nom!

ASND up another 12% today. So let me get this straight:

Ascendant's sole project is Lagoa Salgada and they currently own 25% (with the option to increase). All cash going on exploration and paying MAFL, valued at £12m (after currency conversion)

MAFL has a NAV of £5m+ not including the vast amount of value for 75% of Lagoa Salgada. You would be forgiven for thinking our MCAP would be £15m, maybe £20m, or at least bigger than our partners who own less of the project and have less assets.

Current MAFL MCAP £4m. So much for the EMH ay

Ascendant up 23.5% today and holding. Someone got whiff of those assays? Due any day now..

Copper absolutely storming up as well... lovely