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U think I’m going to sell
Now ?? Really ?
I’m here until the end fella. This either swims or I go down with the ship.
All I did was point out the possible outcomes of what could be happening behind closed doors.
After all it does make you wonder if they wanted to raise money why haven’t they by now ?
Is it wrong for me to question my investment in to a company for not acting to protect the shareholders or its price ?
Someone sold?
GL.
Great post. I’m looking at it like this with all worst case situations only …
- the MDA is not being agreed because Malawi want too much.
- Talaxis hold 33% and are stopping any proposal that effects their holding.
- they can’t raise the funds by placing or private institution because of the lack of clarity.
- huge disagreement internally with the bod / governments and Malawi all involved in major discussions.
- Malawi could turn around and seize or nationalise the asset
- bod are trying to negotiate a takeover but who would buy it with Malawi playing hardball.
- there is no reason for institutional investors not to buy in now but there is a major stumbling block that has caused us to drop to 11p and it’s not the general markets.
- it needs to hold here or we are in big trouble. Management have proven to make shrewd deals although timing has been an issue in the past. So management silence tells you there is a major problem behind the scenes.
Just my worst case thoughts on what’s going on. If we fall again today then the management have given up acting on what they stated. How can they go from employing a cfo and a £500k investment from Cotec to then saying it’s a going concern or the company ?
Why could they announce a placing when sp was at 17p ? Do it at 12p with a 30% discount ?
Looks like they can’t do a placing as non of the current institutions will take part and they know private investors might not stump up the cash.
Lots to ponder but something definitely is not right and please let’s all stop using the MACRO excuse.
Let’s see what today brings.
I would also add, look at the other report and how many different icrons are in the fire at mkango.
It strengthens the finance case and takeover case. Market cap is peanuts.
Someone would pay 75mill in my view for a true value, at least. In its current state with no forward thought on potential
Some thoughts from last night -
1 - I genuinely believe this drop is just due to the market being spooked by where the mine funding is going to come from and ergo, the MDA - obviously chicken and egg to an extent . I still strongly believe that the US are going to come knocking . We don’t need working cap funding . We survived for years on scraps .
2 - when you read the final page of the results - we WILL transfer exploration licenses into mining licences. (The auditors wouldn’t allow this certainty of language unless it was contracted) and
3- DFS for an ‘integrated’ project - is mentioned once MDA signed AND after Pulawy feasibility study complete = much bigger prize . Could be what the investors / acquirers are waiting for….
4 - the 500k USD p/m cash burn - I assume this is linked to the completion of the DFS ? So we would now revert to historic cash use levels - e.g. <100k pm
5 - we need c250m to finance a mine with 2.1bn cash flow .
6 - price action suggests a small fund raise to take us COMFORTABLY through the next 12 months while we sort the next steps out .
7 - takeover becoming more and more likely.
Dumbo, a placing is incoming as they are running out of cash.
That’s why the SP Dropped.
>>normally assume the larger investors know what's coming so why didn't they exit earlier?
Silly assumption, but if it was true you would assume they are selling now because they know what is coming.
Reality is, people sell and buy when they want to.
Presumably you've no more idea than I have re what's going on - for all we know it's just the de rigeur planned stop-loss hunt you get on AIM before it multiplies on whatever news is already known out there.
As we can never know the reality behind the scenes then indicators like RSI in the teens is somewhat helpful in that regard - oversold on the weekly now too so there's plenty of scope for a long-term drive back up.
I wouldn't be at all surprised to see that whopping IH&S play out over the rest of the year to put this back at c40p via 25p with a bottom around here somewhere - that $500m+ NPV is looking tasty @ 25m mcap - God knows EVs/Rare Earths have the ability to pull a Uranium soon ...
Thank god that's over! (For today anyway)... looks like AIM forgot to bring the lube again.
Who knows what's going on, what we do know is we have a piece of land full of the good stuff and unless someone came over the weekend and dug it all up, that hasn't changed. I'm staying positive on this despite the Royal Roger-ing.
Bonker. This now has bog all to do with rsi mate. If it’s in the teens then investor rsi is close to zero.
Super. If it was 10p then they would have already announced it. Why management are taking so long to address this tells me there’s more to it than meets the eye. I’m with tufftrafer with this. Something greater is going on behind the scenes.
What happened to Cotec adding at current price for another £500k ? Obviously something has changed in a big way. Tomorrow will be very telling ….rns is a must for me otherwise I’m just going to write off this investment and never buy shares again. How on earth is this even remotely possible ? Company has to say something this week. It’s a must.
I had a small holding here and topped up substantially today. The drop is extreme and with seemingly no basis. The resources are there and are going to be increasingly valuable in the near future. The SP is giving it away at this point - I guess some investors have walked away with substantial losses, but equally someone is going to come in and take advantage of their pessimism.
Given the trading patterns today it is going to be absolutely fascinating to unpick this story when it all plays out. I still feel like there is a shift of power going on internally. I am at a 60% loss and gripping onto my spuds like there’s no tomorrow.
See what happens but the daily RSI is in the teens now - last time they dumped her this hard she 10x bagged over the next 12 months.
If you're staying in to see the value play out then this is quite the averaging down opp.
Worth checking shortly if there are any delayed large sales. If there is a placing it looks to me to be at 10p
Who knows but like everything else on AIM I wouldn't take a blind bit of notice of any trades personally.
This is now extraordinarily oversold - it's not likely to stay down here for very long - wherever "here" is.
The trade at 15.21pm puzzles me. I normally assume the larger investors know what's coming so why didn't they exit earlier? Seems more like a panic reaction than a considered decision
Don’t know who said “ taken behind a shed n given a thrashing “. It’s more like being stripped in the middle of the m25 and given something we have never seen before
Anyway, screw those guys - going large @ 11s
Depends where it is by Xmas I guess ;)
Tufftrader. I feel u mate. Hold on though. I can promise you these won’t go missing. Huge games being played here. It’s all engineered. I’m personally expecting a takeover now. Mka too small to deal with governments with China getting hostile and malwai lot not understanding a word of English language. It’s a case of Talaxis taking us out on the cheap. 30p would get accepted by this bod. It clears all institutional investors in the process.
Added some more. Decided to ride n die with this stock. All the tweets. The personal involved and potential here. I’d rather these screw me than some crypto ponzu scheme. Atleast I will know where to find them. All or nothing for me now. Let’s go !!!
It is misinformed reporting such as this that has caused the short term problem.
https://www.marketwatch.com/story/mkango-resources-shares-fall-over-funding-uncertainty-271661848844
A simple standard going concern sentence that has been blown way out of proportion. There are multiple funding options for MKA not withstanding existing relationships.
The MDA is a mining agreement for all miners in Malawi usually and will take time.
This will come good.
I think a few stop losses were hit early doors at 13p.
All sell today have been picked up, I wonder if they will ever raise the price.
What an absolute disaster this is at the moment. God only know what’s going on behind the scenes but you can bet absolutely none of it is bearing our investments in mind. The neglect and miscommunication here is enraging. MDA supposed to have been finalised in July. What the hactual f@*^ck are this company, and the Malawian government playing at. I bet there are murders going on behind the scenes.