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The figures are wrong, 50% looks high but corporation tax is reduced by 5% if you are a miner so aligned to domestic. The rent aspect on profit not income as per corporation tax.
Also, all of this would be considered in mine economics in DFS. Mka will only go ahead if advantageous to shareholders and why getting MDA right and both parties happy is key.
I remember RBW having a deal with burundi and they say the potential, got greedy and wanted to renegotiate via a ban. RBW turned their back on the project as they have other strings to the bow
China,
Yes, it does apply here too. If you bother to read my previous posts you will see that I dont see the MDA timing here to be that important. (which you haven't because you see ANY shade of contrary view on your investment as an aftont).
The biggest difference here is the recycling arm and progress in UK, soon Europe and next year in the US aligned to strong partnerships.
Anyway, you will only see it from your perspective, which is fine.
Lewis: Don't your comments on Pensana also apply here ?
Pre and all others then have a problem then, China will control pricing indefinitely making it uneconomical to mine, as is the case today.
Recycling and non-mine projects are surely king.
Remind me, at what basket price does Pre need to be viable?
You'r also displaying your ignorance about profitability, "Basket Price" is only part of the equation, Grade and Recovery also govern revenue, and of course you have to have a significant tonnage to sustain production long enough to pay-off your CAPEX.
CHINA PLANS 7.2% RISE IN DEFENSE SPENDING, BIGGEST IN 5 YEARS
After reading that article I just looked up tax rates in Malawi. Seems to be 35% on foreign companies, and this additional resource rent tax of 15% if you're making over 20% profit. So that's potentially 50%.
I know they need money over there, but this seems a bit excessive? Kind of hoping I've got these figures wrong.
"In Malawi, for years, we have observed projects missing completion deadlines, with initial costs being elevated — this should be avoided in this Budget when it comes to implementation"
Lot of pressure for Malawi gov to deliver this year with pressure from world monetary fund and us.
Mka can boost the economy on its own with an MDA
Talk about a credibility boost ...
Now that is some signing!!! Julian got his very own Super-Man
F-l-y-n-n - weird censorship ...
trump wanted him to replace *****!
YES
YES
YES
Pure speculation but the Lockheed Martin connection clearly stands out. Could CoTec/MKA be looking to marry up HyProMag directly to US defense companies? ie they buy the tech to have in-house? Huge potential. Seems the Vice Admiral is incredibly well connected across industry and policy making
Https://www.accesswire.com/838731/cotec-holdings-corp-appoints-retired-vice-admiral-robert-harward-as-non-executive-director
And the Vice Admiral's Wikipedia page:
https://en.m.wikipedia.org/wiki/Robert_Harward
Interesting and quite positive imo.
If the only real issues are tax on profits and sourcing chemicals they're probably almost there. Moreover the dramatic-sounding whirlwind tax (which i think equates to our gentler-sounding windfall tax) is "only" icing on the cake stuff applicable if commodity prices really take off so hopefully can be agreed soon. Should have been sorted by now with scaled formulas surely. Important mind where the fiscal regime is all agreed to in advance for several years although everyone will be a winner on the issue. MKA will doubtless be having the same negotiation over REs prices as Lotus are for uranium.
It's coming.
Five weeks chaps.
Https://mwnation.com/government-miner-upbeat-on-kayelekera-agreement/
Would expect MKA to be at this level of detail and more advanced re negotiation too. Again states MDA will be done but now they have common sense to not jump on a specific timescale.
I am sticking to Q2 done and dusted if not before.
Decent posts from after hours and at the weekend, thanks crumbs for the detective work and stebol for the decent synopsis of MKA BoD and their comms. Agree wholeheartedly.
With the Malawian budget now rubber stamped and internal and external pressures mounting over forex and mining as being a catalyst i am more confident that the mda will be done by end of Q2.
Malawi cannot afford the stagnation
Not too sure Malawians would be overjoyed though paladin was a bad experience for them...we'll play that part of his bio down😅
No way he was exec for Paladin!
I’m sure they will get on very well, was not aware at all he was involved in Paladin… wonder if he would be interested in venturing back into Malawi
I'm not saying anything is coming from this but Mark Chambers who is going to be pouring our Wills drinks in Singapore :
'Mark Chalmers is President and CEO of Energy Fuels, bringing a wealth of experience in mining and mineral processing to his position. Prior to his promotion to CEO in 2018, he served as President and Chief Operating Officer (COO) of Energy Fuels.
Prior to Energy Fuels, Mr. Chalmers was the Executive General Manager of Production for Paladin Energy Ltd. where he successfully managed the Langer Heinrich (Namibia) and Kayelekera mines (Malawi) and achieved significant increases in production levels while reducing operating costs.
Mr. Chalmers is an expert in in situ recovery (ISR) uranium production, having managed both the Beverley Uranium Mine owned by General Atomics (Australia) and the Highland mine owned by Cameco Corporation (USA). Additionally, he has consulted several key industry leaders in the uranium supply sector, including BHP, Rio Tinto, and Marubeni.
Mr. Chalmers holds a Bachelor of Science in mining engineering from the University of Arizona, is a registered professional engineer and served as the Chair of the Australian Uranium Council for ten years. Holding dual citizenship in the U.S. and Australia, Mr. Chalmers resides in Lakewood, Colorado with his wife while his two adult daughters live in Australia.'
Worth noting.... Mkango has Utanium plays in Malawi too... not to mention the much downplayed for some unknown reason Rutile resource that could rival or exceed SVM's
That is a significant event. Well spotted
just tp make it easier :)
'session 2:
14:00hrs a presentation by mark chalmers, president & ceo, energy fuels inc, usa;
14:30hrs “mkango / hypromag – raw materials and recycling solutions for the ndfeb magnet market”, by will dawes, ceo, mkango resources, uk;
15:00hrs a presentation by peter sherrington, chief financial officer, arafura resources, australia;
15:30hrs – 15:30hrs panel discussion
17:00hrs – 19:00hrs ****tail reception for all attendees kindly sponsored by energy fuels inc., usa'
all attendees are kindly sponsored by energy fuels .... ****tails on them eh, and i wonder anything else?
There are possibilities here Lynas trying but failing to acquire MP and Energy Fuels hungrily after REE projects
'With supportive US government policies, and US and European companies increasingly focused on security of supply, Energy Fuels is rapidly creating a new significant REE supply chain that can reduce America’s reliance on REEs from China. As part of this strategy, the company is actively securing long-term sources of REEC through offtake (Chemours), joint venture (Astron), and direct ownership (the company’s 100% owned Bahia Project in Brazil). Through these assets and potentially others, Energy Fuels is building a world significant REE oxide supply chain that the company believes will be attractive to EV manufacturers and their Tier 1 suppliers.
Mark S. Chalmers, President and CEO of Energy Fuels stated:
“Energy Fuels is working to secure future large-scale in-situ rare earth element projects around the world, which we expect to become low-cost sources of feed to supply our US-centric REE supply chain in the coming years. Earlier in 2023, we acquired the Bahia Project in Brazil, and now we are working toward partnering with Astron on the Donald Project in Australia. Energy Fuels’ goal is to source monazite from the US and around the world and become a reliable, globally diversified, multi-decade supplier of US-produced magnet REE oxides to EV manufactures and other end-users. Our announcement today should help people ‘connect-the-dots’ to better understand the magnitude of our burgeoning REE business strategy. We are earning into an essentially ‘de-risked’ heavy mineral sand project that is in Australia, has many years of detailed resource and project evaluation, and has all the main regulatory approvals in place or well-advanced.'
And then look who is in Singapore in April with Energy Fuels inc
https://metalevents.com/asian-rare-earths-conference
Going bust ? nah not yet :)
Well said Stebol.