Mineral & Financial Inve... Share Discussion Threads

[tomboyb] 23/11/2021 11:04

Mineral & Financial Invest. Limited Redcorp & Ascendant Begin Drill Program
23/11/2021 10:59am
UK Regulatory (RNS & others)

Mineral & Financial Inve... (LSE:MAFL)
Intraday Stock Chart

Tuesday 23 November 2021

Click Here for more Mineral & Financial Inve... Charts.
TIDMMAFL

RNS Number : 2552T

Mineral & Financial Invest. Limited

23 November 2021

MINERAL AND FINANCIAL INVESTMENTS LIMITED

Investment Update: Redcorp & Ascendant Begin Drill Program in Support Feasibility Study for The Lagoa Salgada Project

HIGHLIGHTS:

-- Drill program is planned to total 15,000 meters to help support the feasibility study planned to be completed by Q4-2022.

-- The drill program will be divided between the North and South zones of the Venda Nova zone located within the Lagoa Salgada Project.

-- The drill program will comprise:
o Infill and exploration drilling with the aim to upgrade, expand and improve the grade of the existing resource.

o Supportive drilling for the upcoming Feasibility Study, and

o 6 dedicated metallurgical drill holes.

-- The upcoming Feasibility Study is a follow-on from the September 2021 PEA on the Venda Nova. Zones of the Lagoa Salgada project indicating a Pre-tax NPV(@8%) of US$341.6M and an IRR of 68.2% (see announcement September 13, 2021).

Grand Cayman, Cayman Islands - 23 November 2021 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) ("M&FI" or the "Company") is extremely pleased to announce that its 75% owned Redcorp Empreedimentos Mineiros Lda ( " Redcorp " ) and Ascendant Resources Ltd ( " Ascendant " ) have commenced a drill program that will be used to support an upcoming Feasibility Study at its Lagoa Salgada VMS project, located in the Iberian Pyrite Belt of Portugal. The development costs are funded and guided by Ascendant Resources, which owns 25% of Redcorp, as part of Ascendant's previously announced earn-in agreement with M&FI (please refer to the RNS of August 1, 2018 which has been amended (see announcement dated July 1, 2020)).

The drill program is planned to consist of approximately 15,000 meters of diamond drilling divided between the north and south zones of the Venda Nova orebody. The program will include 6 dedicated metallurgical drill holes; 4 in the north zone and 2 in the south zone. Most of the planned drill holes will be a combination of infill and exploration drilling on both the North and South zones with the aim to upgrade all Inferred resources to Measured and Indicated categories to support the completion of a NI 43-101 Feasibility Study in 2022. One of the aims of the drill program is to upgrade resources but there is the potential to increase the overall tonnage and grade of both the North and South sectors by expanding the higher-grade zones.

Jacques Vaillancourt, President & CEO of M&FI stated, "We are very excited that Redcorp and Ascendant are beginning this drill program that will support the Feasibility Study at Lagoa Salgada. The Feasibility Study is intended to demonstrate and highlight the robust potential of Lagoa Salgada as indicated by the Preliminary Economic assessment and show the potential for further resource growth in the future to enhance the potential of the project for the longer term ."

The planned infill drill program and feasibility study are commencing following the completion of NI 43-101 Preliminary Economic Assessment ("PEA") entitled "NI 43-101 Technical Report and PEA for the Lagoa Salgada Project", which is available on Ascendant's website and SEDAR. The PEA highlighted a low capital intensive project (initial capex US$132 million) with a Pre-Tax NPV(@8%) of US$346.1million and an IRR of 68.1% at conservative long term metal prices. The PEA presents a low capex, low operating cost, high margin underground mining operation with strong economics to support the opportunity for significant benefit to the Company, local stakeholders, and will boost Portugal's economy through exports, taxes and local employment.

Proposed Drilling at Lagoa Salgada

[tomboyb] 10/11/2021 18:26

No dave -

I have not sold at all -

I have a growing array of stocks that I has "wished" I'd traded instead I now have a chunk of my portfolio dedicated to those short term stocks which have now become long term investments -

With MAFL you cannot have too much due to its illiquidity -

A good RNS with very little interest -

Instead I focus on liquid stocks that can be traded -

This is that part of the portfolio, the dark part which one day or two in 6 months may be awash with liquidity -

That is when I sell or if the news is good I may add -

[dave4545] 10/11/2021 18:16

I see you sold for a loss tomboyb

Waste of time buying on news trying to beat the mm's who will be the only winners

Got to hold stocks to make money

[tomboyb] 08/11/2021 16:29

thar she blows -

[tomboyb] 08/11/2021 16:06

1k online now -

Good rns -

[tomboyb] 08/11/2021 16:00

Mineral & Financial Invest. Limited Redcorp & Ascendant - Mining Concession Contract
08/11/2021 3:56pm
UK Regulatory (RNS & others)

Mineral & Financial Inve... (LSE:MAFL)
Intraday Stock Chart

Monday 8 November 2021

Click Here for more Mineral & Financial Inve... Charts.
TIDMMAFL

RNS Number : 7004R

Mineral & Financial Invest. Limited

08 November 2021

MINERAL AND FINANCIAL INVESTMENTS LIMITED

Investment Update: Redcorp & Ascendant Sign Definitive Mining Concession Contract For The Lagoa Salgada Project In Portugal

HIGHLIGHTS:

-- An initial mining contract term for 20 years and extendable to up to 50 years
-- Two distinct phases for work development are clearly defined
-- The contract defines a fixed royalty on the value at the mouth of the mine of mining products or concentrates shipped or used, being paid 66.6% to 33.3% payable to 1/3 being paid to the local Municipalities where the project is located

-- The Company is required to outline its reclamation plans and minimization of the environmental impact of the operation

-- Redcorp & Ascendant to commence infill drilling immediately and will begin work towards a Bankable Feasibility Study ( " BFS " ) early in 2022

George Town, Cayman Islands - 8 November 2021 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) ("M&FI" or the "Company") is extremely pleased to announce that 75% owned Redcorp Empreedimentos Mineiros Lda ( " Redcorp " ) and Ascendant Resources Ltd ( " Ascendant " ) signed on October 28, 2021 with the Portuguese Government, through the General Directorate for Energy and Geology (the "DGEG"), the definitive mining concession contract for the Lagoa Salgada VMS Project (the "Lagoa Salgada Project") in the prolific Iberian Pyrite Belt, Portugal. The development costs are funded and guided by Ascendant Resources, which owns 25% of Redcorp, as part of Ascendant's previously announced earn-in agreement with M&FI (please refer to the RNS of August 1, 2018 which has been amended (see announcement dated July 1, 2020)).

Jacques Vaillancourt, President & CEO of M&FI stated, "We are extremely pleased with the signing of the definitive mining concession contract as this represents another huge step towards the full development of the Lagoa Salgada Project. We would like to thank the Portuguese Government for their ongoing support of the Lagoa Salgada Project and Redcorp's local management team led by Joao Barros. We look forward to Redcorp and Ascendant moving Lagoa Salgada to the next stage of its development and expect the project will be an important contributor for the region and country's social-economic development."

A summary of the main legal and contractual obligations of the contract are highlighted below.

-- An initial contract term for 20 years, commencing on 28 October 2021, renewable for two extension periods of 15 years each;

-- Two distinct phases for work development are defined. Phase 1 having a duration of six (6) years from signing to present and get approval of an Environmental Impact Assessment ("EIA") and a Definitive Feasibility Study ("DFS") and in Phase 2, to start within nine (9) years of signing to commence the exploitation of the mineral deposits and to build an ore treatment industrial facility (mill);

-- During Phase 1, Ascendant plans to execute all necessary exploration and other works that aim to contribute to the improved knowledge of their mineral deposits and improve resources through the delivery of an NI 43-101 Feasibility Study during 2022, which will define the planned development and economic potential of the Lagoa Salgada Project;

-- Phase 2 can occur simultaneously to Phase 1, if it proves to be technically feasible and provided that the necessary authorizations and approvals are obtained;

-- The contract stipulates a 3% royalty on the value at the mouth of the mine of mining products or concentrates shipped or used, being those divided in: 2/3 being paid to the DGEG and 1/3 being paid to the Municipalities where the project is located;

-- The Company is required to outline its reclamation plans and minimization of the environmental impact of the operation within five (5) years after the start of the exploration program, corresponding to 10% of the financial charges foreseen for the execution of safety plans, environmental protection, management of waste and the landscape recovery and integration plan contained in the mining plan approved by the DGEG, and may not be less than EUR1,000,000.

ASCENDANT EARN-IN AGREEMENT WITH M&FI

The option earn-in agreement details announced via RNS on August 1, 2018 (which has been amended (see announcement dated July 1, 2020)) are as follows:

1. In the first part of the transaction, Ascendant acquired an initial effective 25% interest for an upfront payment of US$2.45 million composed of US$0.80m in cash (US$0.40m on closing of the transaction and US$0.40m on July 15, 2018) and US$1.65 million in Ascendant shares.

2. The second part of the Agreement is an earn-in option which has a minimum total value, if fully exercised, of US$15.00 million. Earn-in transaction terms are as follows:

a. Ascendant has the right to earn a further effective 25% interest via staged payments and funding obligations as outlined below:

b. Investing a minimum of US$9.00 million directly in the operating company, Redcorp, within 48 months of the closing date, to fund exploration drilling, metallurgical test work, economic studies and other customary activities for exploration and development; and

c. Making payments totalling US$3.50 million to TH Crestgate according to the following schedule or earlier:

I. 6 months after the closing date: US$0.25 million (Received)
II. 12 months after the closing date: US$0.25 million (Received)

III. 18 months after the closing date: US$0.50 million (Received)

IV. 24 months after the closing date: US$0.50 million (Received)

V. 36 months after the closing date: US$1.00 million (Received)

VI. 48 months after the closing date: US$1.00 million

3. Ascendant then has the option to earn an additional 30%, totalling an 80% interest in Redcorp, the operating subsidiary, by completing a feasibility study within 54 months and making a further payment of US$2.50 million to TH Crestgate.

4. Redcorp owns 85% of the Lagoa Salgada Project. Empresa Desenvolvimento Mineiro SA ("EDM"), a Portuguese state-owned company holds 15%, upon which M&FI/Redcorp has a right of first refusal. M&FI agreed to the repurchase of the interest with EDM. The Portuguese Government has withheld approval of the transaction. It remains M&FI's intention to conclude this repurchase.

REVIEW OF TECHNICAL INFORMATION

The scientific and technical information in this press release has been reviewed and approved by references in this announcement to exploration results and resource updates have been approved for release by Joao Barros, BSc (Engineering), MSc (Geology), who has more than 16 years of relevant experience in the field of activity concerned. Mr. Barros is a Member of the Portuguese Engineers Association. Mr. Barros is employed by Redcorp Empreedimentos Mineiros, Lda., a 75% owned subsidiary of M&FI, and has consented to the inclusion of the material in the form and context in which it appears.

FOR MORE INFORMATION:

Jacques Vaillancourt - Mineral & Financial Investments Ltd. [phone]
Katy Mitchell and Ben Good - WH Ireland Limited [phone]
Jon Belliss - Beaufort Securities Limited [phone]

Dominic Baretto - Yellow Jersey PR Limited [phone]
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCUPGCAGUPGGAR

(END) Dow Jones Newswires

November 08, 2021 10:56 ET (15:56 GMT)

[timbo] 21/9/2021 22:23

I did a search on "Alasdair" on RNS announcements and, removing the non-Coulson surnames, I can't find any other notifiable holdings in the last 2 years. I wonder if he knows Baz Reynolds the recent notifiable holder.Certainly the timing is interesting as it's not on the back of a NAV update or appearing in the top risers for the day...

[dave4545] 21/9/2021 18:32

Yes Timbo I typed him in google and did not notice even the top matches had the slight difference in the name.

Might wake up the stock but lucky timing for me eh to get some so low this morning.

Somebody paid 11.9p for 74k, pretty sure if they split that up they could have paid a lot lower but hey ho it's done now

[timbo] 21/9/2021 17:26

I don't think it's the same chap (the TR-1 says AlasDair not AlasTair).

Try this one:
hxxps://uk.linkedin.com/in/alasdair-coulson-68b90212

[dave4545] 21/9/2021 17:07

Interesting Rns late on

Could be this chap



"Within his role at Lotus Group, Alastair is responsible for sourcing investments"

[dave4545] 21/9/2021 15:09

Picked up a few at 11.2p this morning.

Always a good time to buy Mafl when overhang and stock offered closer to the bid than the offer.

Hoping to offload on the next spike to 15-20p

[timbo] 14/9/2021 16:04

More big numbers Dave4545 in the latest interview done earlier today! Enjoy...

hxxps://youtu.be/ypgocjkkgDQ

[dave4545] 13/9/2021 11:15

Some big numbers in that Pea

[matt123d] 05/8/2021 08:11

Added some back here over the past few days

[timbo] 24/6/2021 07:27

Late reported purchase of 350,000 shares (£43k) from 22/06. Apparently a small pension scheme interested in capital growth.https://twitter.com/BrightgrowS/status/1407324617484685312

[dave4545] 23/6/2021 12:45

lol

bloody traders, somebody bought 50k on the news then had to sell in 3 lots to get them out again and did not make any profits.

[dave4545] 23/6/2021 10:20

I thought you were half joking Matt.

But no wonder it did not break out and push on if you were dropping all that stock.

Got anymore to sell to me at 11p ?

[matt123d] 23/6/2021 00:27

Been playing in here for a long time with various position sizes, all my trades are short term that hopefully become long term.