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£750k cash = 6.9p hard bottom then.
C7.4p hard bottom then - that's not enough to justify profitable churn from printed shares at 8s so perhaps it's just a matter of keeping people bored out of it while it goes sideways.
BTW - Neodymium has broken out of its long-term downtrend to my eye:
https://x.com/bonker_99/status/1712432219053031487?s=20
Spent £1m on HyProMag in August (completion)
£350K was it for the wind turbine project?
2.5m euro of that cash position will be the loan to HyProMag Germany actually
So maybe £750K or thereabouts left?
Should find out end of this month
Think we had £4.5m at the end of June 2023
£1m has gone to HyProMag + £1m stock (1 year lockup)
May be other outstanding funding requirements, the windturbine project, that cost us a few hundred K?
Id love to see £2m in the bank perhaps more
How much cash on hand do you reckon they have right now?
They want (or already know that) it's going to 7p first.
Gobsmacking news IMO but something not right about this lack of volume - someone knows why of course ...
Amazes me this seller, it has to be a Tr1 (some one with at least 5% I would say)
When there are say ~80K in buys, but could be over multiple trades, boom an 80K block sell goes out. Same 100K in small buys 20K 10K 5K 5K etc. etc. get to 100K in total buys, boom another 100K block sell goes out. Been like this for most part of the year. Soon as they are out we can lift off here as the news has been tremendously positive since the placing which was at 12.5p!
WOW
This is brilliant news and shows the scale of the interested parties we are dealing with. Having government backing (and potentially offtake) will resolve all funding challenges.
Good to see HyProMag named and detailed on the US State Department website.
Text is the same as the UK government press release but worth highlighting again in relation to HyProMag having its name in lights:
'the MSP partners confirmed they are working to advance the following projects...and are collaborating with relevant governmental or financial agencies of MSP partners'.
https://www.state.gov/joint-statement-on-the-minerals-security-partnership-announce-support-for-mining-processing-and-recycling-projects/
I think for me it's the silence that is deafening even an update on how negotiations are going would be good for shareholders.
That being said yesterday's announcement was great.
Hope the learn from Burundi and don't over do it. Their new mining laws made RBWs low scale mining unviable.
The requirements for local processing there were impossible, Burundi has zero infrastructure. Ghana introduced a similar scheme for ALL but its much more advanced infrastructure
Internal politicking ,it is frustrating
I noticed Mkango linked in the US embassy again and the US announced $40 million funding for Malawi private sector projects....reckon Songwe fits with US plans and could be one of the 7 rare earth projects....
Well, sometimes the simplest reasons/motives are also the correct ones.
Again - not saying this applies in this country - but in some places....newly created local jobs, recurring tax state revenues, new infrastructure....does not come into consideration. Only personal enrichment.
IMO, the Malawi government will send a clear message as to how investible they are as a country, by how this plays out.
And quite frankly, will dispel (or otherwise) some of the above opinions that some may have, by their actions too.
Having never done any business there myself, I am not in a position to comment.
But I am sure they will eventually reach a deal with our company that shows they are a credible country to do business in. And by doing so, profit immeasurably more than they will otherwise do, should they choose the path of the basket case failed states.
Not sure what Malawi are trying to do, push out investment?? Make mining non-economical?? They could do with someone who has a basic understanding of Maths. Either that or plough a load of their own money in. Part of me would love the recycling to take the share price into orbit and Songwe go to the lions. All that time and money spent getting to this position and now Mka are middlemen??
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