Investing in gold equities in London isn’t what it used to be, but there are still plenty of attractive opportunities to be had lower down the market
London lacks a gold mining champion of any real substance
Company
LON:MAFL
Mineral & Financial Investments Ltd has an interest in the Lagoa Salgada VMS Project in Portugal. The initial feasibility study for Lagoa Salgada has revealed a post-tax net present value of US$147mln, a 39% internal rate of return and cashflow of US$56mln in the first five years based on 124mln pounds of zinc a year of production.
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London lacks a gold mining champion of any real substance
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“Bellavista should be in production during 2019 and is precisely the type of near-term cash flow opportunity that M&FI is seeking," said Jacques Vaillancourt.
The proposed work programme has exceeded MAFL's expectations
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The zinc resource at Lagoa Salgada may yet go higher, as more drilling is planned
In a fourth quarter operational update, the AIM-listed firm said its fully-diluted NAV per share as at December 31 was 12.54p, up 72.5% from a year earlier, a new all-time high
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In an update on the exploration programme, the AIM-listed firm said that Lagoa Salgada's North Zone had its first measured mineral resource of 1.8mln tonnes at 11.02% zinc equivalent
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The mining investment group said the programme has been “very successful at confirming and expanding high-grade mineralization in the Main Massive Sulphide Zone"
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