Mineral & Financial Inve... Share Discussion Threads

[ryan83] 28/8/2015 14:38

just me and you then bones!

[bones30] 28/8/2015 14:37

I'm reading.

[ryan83] 28/8/2015 14:36

any lurkers here or talking to myself lol?

[ryan83] 28/8/2015 14:26

Lagoa - 900m Zn equivalent lbs
Toral - 2.2bn Zn equivalent lbs

thats 3.1bn Zn equivalent lbs

Zn is $0.77 lb right now and on the yearly lows, 52 week high is $1.1 lb.

So how much is that?

[bones30] 28/8/2015 13:47

Good posts. I agree, there's been extensive work done on this resource dating back years, and like you said infrastructure etc.

[ryan83] 28/8/2015 13:43

volume yesterday was 3.5m and so far today 1.2m. Another 1m and I think we maybe clear of the CLN overhang.

[ryan83] 28/8/2015 13:40

Question you need to ask, fully diluted say 16m shares in issue (post £169k CLN conversion) and shareprice of 7p, market cap is £1.1m.

Is £1.1m a fair value for the assets and cash at bank? last NAV update says 56% of NAV is cash = 4.77p = diluted is say 4.3p, which is £667k cash.

That leaves £440k enterprise value for all the assets of MAFL.

The asset acquired looks pretty good with very good grades and also note the minimum expectation to double the compliant resource. Given that portex were looking at production in 2016 this means the asset cannot be far off production - if you look at the presentation you posted all the infrastructure is in place.

Look at the MIO grades for the Buchan asset, the assets MAFL have acquired have much better grades. This is very cheap imo.

[bones30] 28/8/2015 13:39

Certainly sounds very feasible ryan.

So quite a large % of the company now in hands expecting more than 9p presumably?

I agree, and given the low shares in issue shouldn't take long to see the back of the overhang.

[ryan83] 28/8/2015 13:32

Bones the last NAV update was 7 Aug coming in at 8.52p.

The CLNs are unsecured and per last issue RNS £105k CLNs were to be converted by 31 Aug 2015. Therefore converted at the prevailing price at the time. From yesterdays trades you can see a 1.17m trade for £108k at 9.24p. We will get an RNS to this effect next week, the CLNs are always converted prior to market notification, usually around 2/3 trading days before any RNS. IMO the £108k trade is the CLNs with interest. It was worked while people were paying 9p plus, which nearly all of yesterdays trades were and explains the shareprice falling on buys from around 12.7p.

From the last results total loan notes amounted to £169k, therefore we may well be working through the last of the loan notes, ie £169k - £105k = £64k. I would say there is an overhang to clear, more volume and we are off to the races. Hold tight and add on dips.

[bones30] 28/8/2015 13:05

Ryan, any idea how these convertibles work? I'm a bit stuck trying to find the price of conversion.

I see the last £25,000 got converted at 8p when the share price was around 7p, and the most recent reported NAV was 10.06 pence.

[bones30] 28/8/2015 13:02

Wouldn't let me! Had a fill or kill at 6.75p

[ryan83] 28/8/2015 13:00

Grabbed a few more under 7

[bones30] 28/8/2015 12:51

"Our deeply held belief is that superior returns are made when we invest intelligently at a time others cannot, or will not."

[bones30] 28/8/2015 11:54

Failed again to buy at 7.25p

[ryan83] 28/8/2015 11:31

I think a decent comparison to MAFL new asset is MIO Buchans asset:-


MIO
The deposit hosts Indicated resources of 23.4 million tonnes grading 1.41% Zn, 0.60% Pb, 0.35% Cu, 5.31 g/t Ag and 0.07 g/t Au, and Inferred resources of 4.3 million tonnes averaging 1.29% Zn, 0.54% Pb, 0.27% Cu, 4.47 g/t Ag and 0.08 g/t Au

MAFL
7m tonnes grading 4.95% Zn, 4.12% Pb, 0.23% Cu 42 g/t Ag, 0.41 g/t Ag, indicated 6.2m tonnes grading 3.6% Zn, 2.94% Pb, 0.34% Cu, 54.7 g/t Ag, 0.82 g/t Au.

[ryan83] 28/8/2015 11:13

bones as with most AIM listed companies its the access to capital.

Nice find that presentation.

I guess the production target is no longer 2016?

[bones30] 28/8/2015 10:52

I was wondering if the assets are good then why Portex selling?



"The Company is in the process of changing its strategic direction and is in discussions with several investors to divest its mining properties in Spain and Portugal. Despite having canvassed many opportunities over the last several years, the Company has been generally unable to rise sufficient financing to develop its mineral properties in Spain and Portugal."

--- But can MAFL?

Presentation here is interesting:


Lagoa Salgada – flagship asset #1
- 900mlbs Zn Equiv Resource with PEA underway
- Management targeting 2016 production

Toral – flagship asset #2
- 2.2bnlbs Zn Equiv Resource with PEA underway
- Management targeting 2016 production

[bones30] 28/8/2015 09:26

ryan, you on twitter?

[ryan83] 28/8/2015 09:16

yep got some at 7 and 7.3, will look to add more around 7-7.5!

[bones30] 28/8/2015 09:10

Tried at 7p... fill or kill failed :/

You?

[ryan83] 28/8/2015 08:46

bones you get any this am?

[bones30] 28/8/2015 01:48

Lets find out.

[ryan83] 27/8/2015 21:05

Bones it's the CLNs just like I said. They are out the way now so could crack on tomo with some volume, I rebought at the end 8.75. Should be good tomo!

[bones30] 27/8/2015 19:26

I think it was a buy order perhaps as after the time of it, the price fell. It probably had a lot to do with the price rising.

Not sure though.

[colin12345678] 27/8/2015 17:29

Bones what you thinking