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Ascendent have just released the below (I’m only quoting the high level bullets):
- New High-Resolution gravity survey suggests potential to rapidly expand Massive Sulphide Mineralization at current Venda Nova North and South Deposits
- Multiple additional gravity anomalies identified to potentially add to the Massive Sulphide Ore Bodies near Venda Nova
- EDM's Option to gain a 15% interest in the Project extended to September 30, 2024 due to upcoming elections and government change
Annoying about the push to September for EDM, but as stated below, it wouldn’t end well playing hardball with the Gov. No doubt we shall receive more in our RNS tomorrow.
Great news JV but when are shareholders going to see the jam and get the sp back into the 20s?
Slight mistake in the RNS
paragraph which reads:
If both the EDM Option and the Put Option are executed, the Company will hold an 85% interest in the Project and EDM will hold a 15% fully contributing interest, with each party required to contribute pro rata, subject to standard dilution clauses.
Should read “Redcorp will hold an 85% interest”
The mistake was due to the majority of the MAFL RNS being taken verbatim from the Ascendent update. There’s another mistake where they mention September 2024 NAV.
Anyway, I’m still hopeful here. Let’s see the drilling soon, increased FS, and a good deal with MAFL (maybe where we pay some capex for an increased % of their 15% so they have a relative free carry).
I love watching the estimated NAV increase whilst the actual value of my holding decrease.
God help us when the NAV ticks down a little!
Anyone know why CERT is plummeting?
I’ve some questions why JV has been investing in Brennan companies which are all tanking.
And the news in some of our investee comapnies in last couple of days...
https://lucamining.com/press-release/?qmodStoryID=7483636570616225
https://www.cerradogold.com/news/cerrado-gold-signs-option-and-loan-agreements-with-subsidiary-of-hochschild-mining-plc-for-the-sale-of-the-monte-do-carmo-gold-project-for-total-consideration-of-us60-million-c80-million/
So why is CERT down near 30% today particularly as gold is rallying.
Maybe because it went up 75% in less than a week from 28/02 to 05/03 and some took profits...
A very dishonest answer.
Tongue was welded firmly in cheek and the answer was factually correct. Appreciate your frustration but why not try and look a little deeper and give us the benefits of your research.
Your personal potshots at JV/MAFL suggest you’re here just to let off steam. What changes would you make? What would you do differently? That might get a constructive conversation going…
Have you rung JV to ask him for answers? I have when I didn’t understand something in an RNS. He was very helpful and very informative.
The reason Cerrado Gold has dropped is it has sold the biggest potential asset in Brazil and I believe they still have debt, with its producing mine in Argentina where inflation is sky high and companies pay 30% tax for currency conversion.
MAFL will have made some money when it was listed so not a total dud.
MAFL have plenty of other exposure to the recent gold rise.
I did once suggest a small 1p dividend upon receiving $2.5 million which would have cost only circa £350k. A very nice way to reward holders like me who have been here 8 years with absolute nothing to show except paper losses.
But instead JV ploughed that money into no idea what and then promptly placed some shares which collapsed the price and any confidence.
Perhaps an asset sale, cash back to shareholders and a delisting is the way forward as in my opinion, JV has no ambition or drive to make MAFL a success on the stock market.
Luca will come good record Gold and Silver production will lift the investment into profit.
I don't know what the strategy here is. Most companies have 1y, 5y, 10y plan. I've only got about small holding (circa 5k) invested here but not prepared to invest anymore until growing the sp starts to become more important. Growing NAV with no tangible benefit, in either growth or yield, is not a game I usually play but since I'm in I stay even if I'm at a loss. Hoping that the sp can grow back to +20p.