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.
https://investegate.co.uk/mineral---financial/rns/investment-update/201909251457296720N/
Very nice day, and it’s been coming. Should have one or two more two imo. When you say market makers are buying at 12.5p, you mean they’re just taking the other side of the sells? Surely just usual behaviour?
Interesting.. Not many people bailing at a 10p bid either. Is MAFL’s time finally nearing?
They are some stonking copper grades and lengths. Great article as well.
Lagoa Salgada could really could transform this company from a micro sub 10m mcap firm into a small if not medium sized company. And that won’t be achieved by dilution, but share price appreciation. Very nice.
Evening all
I can see a few others have cottoned on that the recent rise was a bit toppy to say the least. 19.5p hasn’t held which i expected some support at so as mentioned a couple days ago 18s and maybe a dip to 17s would surprise me. Lots of great short term opportunities out there in the market so traders bailing no doubt. If from 16p still with a 20% profit.
I do think we’ve seen the last of anything below that though. Plenty of time so we’ll see what happens next week.
Timing is always key with stocks irrelevant of the fundamentals, I learnt that the hard way. Have a good weekend all
I believe the pipeline has the capacity for 120MMscfd from memory.
Very true Southmead, just had a more detailed look through the results and have spotted that. I think my point of upcoming news flow still stands though as a development well has never got the market excited before, if anything I think we've fallen intraday on past development well successes. All eyes are on further exploration and SD first gas. But yes you're right, we'll be expecting that news at some point.
Interesting thing for me is while MAFL's key exposure is to Zinc, it also has strong exposure to precious metals (Gold and Silver). While it is generally thought zinc and other metals like copper will suffer in a recession, precious metals tend to do extremely well (and have in the past year with so much economic uncertainty). So while I think its good to question your commodity holdings, I think MAFL have a nice balance to help hedge the risks of a recession.
Having said that Ascendant Resource share price is at circa 3 year lows, and thats after we increased our holdings there so that will have a fairly heavy impact on our NAV.
Thanks 42trader, and yourself.
Appreciate your thoughts and chart, that downtrend trend channel certainly looks like the one to break.
My issue with the recent rise is it looks like it was mainly fuelled by traders. We need institutions to get back on board for this to have any meaningful rise and break that resistance. Although it does look like the offloading has finished so I’d be fairly happy to say we’ve seen the bottom at circa 16p.
Medium term (3 to 6 months) I’m in very little doubt these prices will be long gone assuming no further delays at SD or other bad news (lack of customers in Morocco for example). Fundamentally very strong. In the near term, it’s difficult to call as you say. Due to the shortermism of aim investors and lack of upcoming news flow It’ll be interesting to see if 20p holds. If not I’ll look to start phasing in 17p-19p. Again I’ll watch next week and see how it looks, and where it consolidates. Any views on the order book or technicals next week feel free to share.
Thanks, all the best.
What news are you expecting imminently topsharepicks? Unless I’ve missed something sounds like it’s going to be a quiet few months until first gas at SD. That’s where all the concentration is going, and rightly so.
Ahh good ol malcy. I personally wish SDX would drop him, waste of time/money imo should stick to proactive interviews.
Evening all, fair to say it’s cooled off a bit with a few traders heading for the exits before the bank holiday weekend. Will carry on watching with interest next week, hopefully I’ll get my target entry point. What your next support level 42trader?
I’m definitely no trader so happy to defer to your expertise. I look at technicals for entries but tend to hold for the long term (which I did for a few years in SDX).
Haven’t been around to follow the order book but got the impression the rise was was a bit rampy. Plus 40% in two days, it’s got to cool off somewhere, maybe not tomorrow but there’s a good few months before any more news. Will poke my head in tomorrow to see where it’s gone. Hope it works out for you. ATB
Was hoping to re-open my SDX holding next week when I get back from holiday. Having a brief look now I can see in typical fashion there’s been a 40% rise while I’ve been away. Decent results (leaky by the sounds of it?) including SD progress, but next real news flow will be SD coming online in a couple of months I guess? I was suspicious and expecting some hidden bad news in there but all looks healthy in Egypt and Morocco.
Personally looks toppy to me on technicals, will be waiting on the sidelines for a back test to 19s from traders exiting or lack of upcoming news flow. But if institutions are buying can see this pushing up. Interesting to see where this goes! Great move for LTH’s, I know there’s a lot of averages probably still 50% down so hope it recovers for everyone.
Zinc getting absolutely smacked, below 3 year lows now. Despite that, some good trades getting churned around. 10p trade looks like a sell but someone’s certainly hungry with the 10.4p trade!
Interesting time for commodities with Zinc at multi year lows and silver and gold at multi year highs.
I know MAFL have strong exposure to precious metals, in particular gold so that will benefit us hugely. I think most of our exposure to zinc is through ASND which seems to be holding up pretty well all things considered. Impossible to tell regarding our NAV nowadays with so much chopping/changing, long/short positions being opened and closed. Will be interesting to see how our NAV has changed. 14p - 15p would suit me nicely. Slow and steady.
Hi Lewis, last year MAFL changed their accounting year from finishing in December to finishing in June.
As per aim rule 19, MAFL therefore have until December 31st 2019 to post the annual results (June 2018 to June 2019). So I wouldn’t be expecting annual results anytime soon. NAV update and further drilling results should be due in the next week or two though so some decent news coming up.
Few people happy to slice some by the looks of it. Any liquidity getting eaten up instantly though. Good to see
Looking good here for a strong move in the next few weeks with all these developments, would be good to break and hold 10.5p pushing us into a new trading range. Won’t take much now to move us.
Value will push through eventually, a strong rise in zinc and the metals space in general will work miracles for us. JV really does well highlighting the unbelievable value and business case here.
Latest MAFL interview with JV : https://www.youtube.com/watch?v=3eBp0Sla-SU
Another fantastic interview by JV, highlighting recent assays are the best yet from LS (30% Zinc!). Other half of the drill results due mid August and they are expected to be at least as good as the results just announced!! So that's further excellent drills results and Quarterly NAV update due in the next few weeks - could be a good month!
JV says its an 'Extraordinary time to buy some shares with NAV at a 45% discount'. Couldn't agree more! Also that over the next few quarters there will be more effort in raising the companies profile, something i've email him about on a few occasions so great news.
Very good interview and reaffirms my faith in one I've loaded up into MAFL. Well worth a watch
Few more of those please :)
The spreads been a joke for months too. 10%+ spread is crazy