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Belfast is still looking produce it’s demonstrating model and this proof of concept still isn’t guaranteed to provide the desired results, but governments are still keen to help financially back it.
Hypromag is going against other separator specialists but their technology does this process to weights that can’t be competed against vs the energy used.
We’re fine and in fact it’s great to see an unmet need is being investigated by others which in turns gives us free publicity/
If I had a choice between Belfast or Birmingham for my recycling plant I'm going for Birmingham every time. I think we're gonna be fine. Competition is normal. There will be more magnets needing to be recycled than HyproMag could ever take. Plus... we're opening in 2023. When is the Belfast one ready?...
No I believe it just confirms the value and scarecity of the Rare Earth resource the company has.
GL.
This could be impacting on mkango also. A partner of Ionic rare earths (ixr.ax) have just received grant funding from UK govt for a magnet recycling plant in belfast.
https://twitter.com/setfire2thehive/status/1567506018158129152?t=m73YQDo3AkUiMgXdE_Szxg&s=19
Totally your choice and down to your appetite of course whether you add shares.
Technically it looks A1 - 76% Fib retrace of the tuppence to 39p drive completed @ c11p and very oversold still at 12p.
The right project, in the right place (nobody wants these rare earth mines in their back yard) at the right time and, IMO, at 20% of where it's very likely to end up, if not more than that.
These are the kind of plays you look at when it's a quid but n years after it was at a penny and wonder why you never took it back then and/or held on - the reason of course is that you probably couldn't see it/didn't believe it/got distracted by something else, it happens to all of us but IMO this very much has that look ...
2.5 years since the drop to 2.5p, 2.5 years until production starts - what do you think happens from here/now?
great article!!! thanks for posting
New recycling plant in Tyseley Energy Park, to be completed in 2023
https://www.birmingham.ac.uk/news/2022/pilot-recycling-plant-for-rare-earth-magnets-launched
Your investment is your choice. If you read through the recent report it will give you comfort in my opinion.
The MDA will take time, you may have seen the suprise of the Malawi representative who visited the site as to how serious of an investment MKA are making to the area and in an ethical way.
In addition, there is a lot of US investment about to be issued in my view and the Canadian listing helps mka
I’m deliberating adding to this to average down.
Given no big rebound on todays finance news do we think the recent fall in MKA is simply down to wider market sentiment deterioration?
E.g. Has anything changed which means we’re less confident the MDA will be delivered?
You'll find my heavily soiled undies down at 10p with Muchies sale.
More sad and a bit deranged I mean most of it is just made up!
GL.
It's hilarious isn't it
I'm not currently invested here but just wanted to say that I've never seen a less subtle 'i'm ALL in here but just voicing my concerns' cover for 'I sold out and want to justify that decision' .
Never. I find it quite humorous!
FUD best just to filter for your sanity
Instead of spinning your wheels Munch, recognise that Songwe alone is saleable tomorrow @ c60p following the July DFS.
Keep your eyes on the prize, the AIM mafia will keep the SP pinned as long as they can ...
Highlights
· US$559.0 million post-tax net present value ("NPV"), using a 10% nominal discount rate, with an internal rate of return ("IRR") of 31.5%, payback period of 2.5 years from full production (5 years from start of capital expenditure) and post-tax life-of-operations nominal cash flow of $2.1 billion.
· Songwe is now *****confirmed as one of the very few rare earths projects globally to have reached the DFS stage*****, with a full Environmental, Social, Health Impact Assessment ("ESHIA") completed in compliance with IFC Performance Standards and The Global Industry Standard for Tailings Management (2020) ("GISTM") adopted for design and management of the tailings storage facility.
· Long operating life of 18 years, with mining assumed to commence in February 2025, production ramping up from July 2025 and averaging 5,954 tonnes per year total rare earth oxides ("TREO") for the first five years of full production (September 2025 - August 2030), including 1,953 tonnes per year of neodymium and praseodymium oxides, and 56 tonnes per year of dysprosium and terbium oxides, in a mixed rare earth carbonate ("MREC") grading 55% TREO, generating nominal EBITDA of US$215 million per year.
· Neodymium, praseodymium, dysprosium and terbium are critical for the green transition, used in permanent magnets for electric vehicles, wind turbines and many electronic devices.
· Initial capital expenditure ("capex") of US$277 million (excluding a US$34 million contingency) for development of mine, mill, flotation and hydrometallurgy plants, tailings storage facility, and related project infrastructure in Malawi.
· The NPV excludes any value attributable to the proposed Pulawy Rare Earth Separation Project ("Pulawy") in Poland, which is expected to process MREC from Songwe, enabling Mkango to capture additional value via growing its integrated downstream business with a captive source of primary raw material feed from Songwe. The NPV also excludes any value attributable to Mkango's interests in rare earth magnet recycling.
· The results of the DFS for an integrated project, comprising both Songwe and Pulawy, are expected to be announced when both the Mine Development Agreement ("MDA") with the Malawi Government is completed for Songwe and the feasibility study is completed for Pulawy.
· In parallel, a major focus for the Company will be further optimisation of the Project with the objective of lowering capex and operating costs ("opex"), both of which have been negatively impacted by current market dislocations, creating the potential to reduce costs as markets stabilise.
Agreed, Cotec are only part of the story, 2million committed. Enough to keep MKA ticking until January as longer term financing is done.
How many others are at DFS with so many strings their bow.
Someone mentioned it in a post, mka are masters of simmering ahead of news/finance.
Really weird how they couldn’t do this deal before the last rns. ???
Also Talaxis shares unlock in 3 weeks and they will most certainly start to offload if there’s unrest behind the scenes.
Couple that with a likely market fall and many sellers bagging a quick profit after getting in on the 10s tell me we ain’t going anywhere soon.
Why could they do a placing ? Like seriously …what’s holding them back. They could have raised money at 17-18p through us investors. But actually thinking of it there’s just too much going on and the BOD can’t do anything about it !!!
5% is less than inflation !. no shares issued, it's not relevant whether the SP is 5, 10, or 20p. This is part of the earlier agreement announced in May and should be no surprise, disappointment or indeed excitement either--its just cash required to keep the dream progressing, when they run out of cash they will need more to keep going until such time as the project opens up, MDA and offtakes are agreed and the big digger starts scraping dirt. If we are all still alive by then then jolly good.
True colours, as if we didn't know already.
FUD
PS: Yes - wanting to be diluted at 14p instead of (maybe) 27p is an odd view ;)
You guys do make me laugh :)
There could be all sorts of deals shaping up in the background that the BOD are working on to send this bagging+ from here.
Cotex are happy to continue to play ball and, no, it's not a death spiral otherwise nobody would be piling in at sub-teens :)
Cotex are likely aware of possible outcomes here, hence the 27p payback in shares clause and the 5% coupon isn't too hefty as these things go so it's all good from my perspective.
Let's see if some wow news drops in the coming months.
Short term loan at a favourable coupon, no free shares associated with it, very good deal, cripes, inflation is worse that the %interest!!. . Expecting positive developments before the 2 year term otherwise more of the same until the project is cracked open and on steroids.
Not happy at all. Why couldn’t we raise £500k at 14p?
This shows to me they can’t because of huge internal and company issues. Cotec gambled £500k here to save their investment.
Something is not right at all. From going concern to convertible notes. Like wth.
My break even is 23p. Looking to exit at 17-18p
This is enough. If they didn’t get Cotec funding then what ? We hit 10p yesterday.
A much needed and comforting update, will be turning away from the chats today! A few that sold out might be a bit miffed.. expecting a lot of sulking