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Chakwera will be along with a £452k buy soon enough.
Brilliant - thanks for posting!! ............... but still nobody buys!
An excellent thread on Twitter giving an insight into CoTec by GLR Capital
https://twitter.com/glr_1990/status/1623041480553074719?s=46&t=ihG9g242pwLEkN4mxgdM8A
I'm sure it's in hand :)
OK - the Cotec cash is in the current account -
Now -
1 get down the cashpoint
2 fill the suitcase
3 next flight to Malawi
4 Stick suitcase in boot of ultimate MDA decision maker
5 Everyone is happy
Evening.
Whenever they do that I just hit em with limit buys which often go through when you can't get a live quote.
Confirming funding from Cotec convertible at 27p!
GL.
Are you joking?
Each to their own but you are investing £8k and you ate worried that you will have to pay 40 quid instead of 11.50?
It only needed to rise 0.25p above the offer for you to get that back and domd change.
I understand the purist aspect but don't worry about it.
I suspect however, the reason there is a limit is because they don't have 50k at that price and you will need to pay nearer 16 if executed.
The usual shenanigans :)
Yet again I am unable to place a buy order for 52000 shares even at the listed buy price of 15.5p because the number of shares exceeds the market limit. So effectively I have to place several smaller orders via Hargreaves and Lansdown, each one costing me £ 11.50 per trade. Its a bloody joke. Ive had similar problems in the past but seemingly there would be no problem if I wanted to sell 100,000 shares in a single trade (which I don't by the way).
If there is something interesting in the Rutile deposits, probably sale of the resource to Soverign (or license out) would be the best way to obtain any value from this.
MKA is so undervalued, under the radar that it is a screaming long term buy. There have been some important developments at the start of 2023 (Songwe environmental approval, CoTec investment and Malawi professionally progressing MDA regime) but there is allot more to come.
Putting aside the rear earth mining in Malawi there is a huge potential licencing business for the magnetic material recycling. The company will have a number of its own plants but I can also see the model expanding rapidly into licecing of 3rd party production in Europe and the US. This will mean little capital requirement and a stead/growing revenue stream from licencing.
I have now invested about £150k in this (across both UK and Canada listings). I am looking at minimum holding period of 3 years, so one for the long term. If anything I actually hope share price does nothing for a few more months so that I can slowly accumulate more.
I've just watched the Proactive interview with CEO and founder of Cotec, goodness me!
Unicorn company in the making imho DYOR
out of ideas to explain this. I don't understand, out of my depth. have a good weekend
.. and still you get idiots selling! -makes you wonder what they are switching it in to - which they see as a better bet!
completely shocking that people won't pay 16p for this with cotec insiders piling in at 27. crazy
The Money Guys are prepping nicely.
looks like insiders are funding almost the entire amount. NICE !!!
VANCOUVER, BC / ACCESSWIRE / February 2, 2023 / CoTec Holdings Corp.
CTH
(the "Corporation") is pleased to announce that it has completed a third closing (the "Closing") of its previously announced non-brokered private placement of units (each, a "Unit") at a price of $0.50 per Unit (the "Private Placement"). Each Unit consists of one common share in the capital of the Corporation (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.75 for a period of 12 months following the issuance of the Units.
Pursuant to the Closing, the Corporation issued 5,069,796 Units for gross proceeds of $2,534,898, resulting in an aggregate total of 8,984,904 Units issued in the Private Placement for aggregate gross proceeds of $4,492,452. The Corporation has used and will use the gross proceeds of the Private Placement to fund investment commitments, to repay amounts owing to Kings Chapel (as defined below) and for working capital purposes.
Insiders of the Corporation participated in the Private Placement and purchased an aggregate of 8,271,448 Units for gross proceeds of $4,135,724. As a result, the Private Placement is a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Private Placement is exempt from the formal valuation requirements of MI 61-101 pursuant to subsection 5.5(b) of MI-61-101 because the Common Shares are listed only on the TSX Venture Exchange (the "TSXV") and is exempt from the minority shareholder approval requirements of MI 61-101 pursuant to subsection 5.5(a) of MI 61-101 because neither the fair market value of the Units to be issued to related parties nor the consideration to be paid by related parties pursuant to the Private Placement is expected to exceed 25% of the Corporation's market capitalization as determined in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the expected date of the Initial Closing as the participation therein by related parties was not settled until shortly prior to the closing of the Offering.
All securities issued to Canadian investors in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.
GLR - Should be enough to pay the £1.5m for HyProMag?
https://www.benzinga.com/pressreleases/23/02/ac30685105/cotec-holdings-corp-announces-third-closing-of-non-brokered-private-placement
Just keep hitting 15p chaps and she'll be fine.
It's a great undervalued company with many strings to its bow. It's already been given wide exposure to interested potential funders as well as already having secured EU money, Cotec and Talaxis etc. There may be fierce competition amongst the interested funders now! Equity dilution isn't bad if the timing and price is right and it's part of the best funding deal. The BoD is strong, they won't undersell and shareholders should be confident and excited imo.
Yes there are still many risks, but I am beginning to feel that MKA is a grossly undervalued and represents a rare opportunity to get into a strategic mining / recycling share that may re-rate multiple times over the next years
Absolutely there will be dilution along the way but that new equity is what will get this going. Maybe not an interesting one for short term traders, but personally that is not something that I get involved in.
I am here for the next 3 years for sure, after that will see. That is if we re not bought out before that
Well, someone just paid C$0.345 (+18.5%); equivalent p21.01.
Admittently, low volume: 23000 total so far
So on this good news and wakey wakey market I take an even bigger loss! Textbook sell on good news buy on bad perhaps: but what if I bought on the previous bad news at 37p.....errm, wait for even worse news then get out quick. And if there is good news?...Get out even quicker! BWALTHs and LLREE and EVs
I'm surprised by the SP action today. This was a really good RNS. Short term working capital secured, with a converted price at double the current SP. If that isn't a vote of confidence, what is? In the current climate that is remarkable. The longer term funding requirements are likely to be met by a combination of access to grant funding and investment partners. We all know there have been delays, which is why the SP is subdued but I have confidence that 2024 will be transformational for the company and shareholders. GLA