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I would rather we just left the existing listing alone for now. It might be something to consider in future. When we are (hopefully) a much bigger company.
That RNS is certainly welcome reading though, and hopefully it will have a positive impact on the 'lead weight' in question. It certainly cannot hurt. And it would be good to see us (UK) show we still have some clout - and fight - in us, during these increasingly interesting geopolitical times.
I see Songwe as a mini battle ground right now, to be brutally honest.
Separate to the exciting, and important, HyProMag matter. And I want us to win on all fronts :)
I think the case for listing Magnito/Hypromag keeps getting stronger as we simply are not getting any value for it here
Great news!
This announcement also gives us more negotiating power with Malawi! - They will see we not a 1 trick pony and if they dont want to play fair ball - sod em! - then we can put all of our time, management and resource into recycling. Happy days either way.
Great news! Songwe is becoming a bit of a lead weight. The constant positive news flow coming out of Hypromag can't be ignored much longer.
I'd be interested in just how many Talaxis still hold...As certainly someone/s has been constantly selling this down...only so many they can sell though and then they are gone
That's highly significant that the UK government website press release specifically and solely mentions HyProMag. No other companies/initiatives were mentioned. Clear there is a lot of support for this
Anyone else feel that this is being suppressed?
Good to see renewed RNS flow ahead of plant coming on line this quarter in the UK.
All derisking
Fingers crossed for even a marginal green day
Https://www.gov.uk/government/news/uk-to-host-minerals-security-partnership-for-first-time-to-boost-investment-in-critical-minerals#:~:text=The%20MSP%20is%20a%20group,critical%20mineral%20supply%20chains%20globally.
...and still people seeling at 8.5 - unbelievable.
RNS just released regarding this
Nice - good to offset the delay here with that good news
That scenario also crossed my mind some time ago. As did the fact that some countries do business a little differently outside of the West and that this potentially might be a handicap for us too.
Some of the legislation our lot (albeit US-driven IMO) implemented a few years ago has really harmed some aspects and reduced some business opportunities for us in some parts of the world, I think it is fair to say.
Still, perhaps it gives some people a warm feeling. Others might think such outcomes were entirely predictable, lacking common sense and pragmatism.
Not saying this applies in the case of this nation. We simply do not know either way. As a wider point, I think the concept is quite compelling though. But it is what it is.
And so the wait continues and with it, further declines in the SP.
On the plus side, if the BOD actually do manage to deliver Songwe, the reversal in SP fortunes should be far more pronounced.
But I totally understand why some have bailed/have started to bail. Opportunity cost if nothing else. GLA.
WOW great find Tera!
Confirmation that HyProMag is one of the companies that the UK government and 14 global partners (inc US & EU) are looking at "to accelerate more extraction, processing and recycling projects across the critical minerals value chain"
At the meeting yesterday, MSP partners confirmed that they are driving forward a range of projects which will help to develop responsible critical mineral supply chains, including:
11 projects in upstream mining and mineral extraction, four projects in midstream minerals processing, and two projects in recycling and recovery – including a UK-based recycling technology led by HyProMag, commercialising rare earth magnet recycling
https://www.gov.uk/government/news/uk-to-host-minerals-security-partnership-for-first-time-to-boost-investment-in-critical-minerals
Middlemen is the latest derogatory reference - I recall a reference to a “joke” and reference to some outfits “capacity”. They have been busy cosying up to China and Russia, no doubt encouraged by South Africa. They would rather deal with some higher authority. You would think the current SP has failure baked in but I’m sure the MMs will make hay.
Extremely common outlook in many African nations. Looks like this one might be the same.
Very little commercial acumen. High levels of corruption, greed and short-term thinking.
Which may, or may not, apply in this case.
But I did suggest quite a while ago now that in a game of brinkmanship we were unlikely to win.
The question I posed then, and which annoyingly remains unanswered, is what is our Plan B, in the event we do not cede to their demands?
Another presentation, which addresses this scenario, would indeed be welcome.
Especially as the last raise was fundamentally to get the MDA over the line and the BOD needs to make this happen.
Even if it requires agreeing to a smaller profit than we might reasonably expect to obtain in an advanced country.
And I would like to see some of the other Directors buy a decent chunk of shares on the open market at the earliest opportunity too.
Hard to know what to make of that article. Garbled mix of issues. Past present or future? That's a very strange suggestion about MKA being middlemen. Why and for whom! The context there seems to be negotiation of a tax holiday, pretty normal stuff. Defensive a.r.se covering by that committee as MDA nears maybe.
May I respectfully suggest that The Malawian government officers look at the tax breaks that a country like Morocco offer mining companies, in order to encourage them.
ATB. DH
"We needed to sit down and reach an agreement with the companies before signing the agreements. Otherwise it could be unwise to regret after the MDAs have already been signed,” Nyirenda said."
After a reread, the quote above is past tense, and followed by a reference to the AG pausing in May. 5 months of talks have followed. I suspect the MDA is still close but could do with an MKA update to be honest. We must be due another presentation.
Doesn't make any sense to delay it - the pay back is with jobs, infrastructure (if the gov isn't going to provide it) and so on. I guess any agreement is always something where both sides are unhappy - so I also wonder how much leeway in negotiations we are giving ourselves as well. Still, both sides are working towards a solution so hopefully just a matter of time/movement in positions!
I think there is a level of naivety unfortunately as they just see the headlines re rare earths and governments want more of the pie without the commitment and investment.
Malawi should back these horses with infrastructure investment and support otherwise they will be left behind.
Burundi have done the same with Rainbow and rainbow are moving on the different projects.
Putting unreasonable demands on hard Rock miners is a bad call imho.
What I find strange is that mkango have been working on this rare earths project in malawi for about 12 years now. is it normal to spend all that time and money developing a project without some understanding in place that in the end the project will be allowed to go ahead? it does not make any sense. I know governments come and go but after all this time working in the country and the investment WE have made developing this project, I did not see this delay in granting the mda coming. we have been there working on this for 12 years ffs
Yeah bit strange there - will be large when it happens but at least managed to find something on it - 9 months I thought was standard but yeah looks to be delayed. hence good to have recycling up and running soon