Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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'British Deputy High Commissioner to Malawi Ms. Olympia Wereko-Brobby today met with National Planning Commission (NPC) Director General Dr. Thomas Munthali at NPC offices in Lilongwe where they discussed various issues, including how the British government and other development partners can support the accelerated implementation of the Malawi 2063 First 10-Year Implementation Plan.
The discussion specifically focused on the areas of mining, megafarms, carbon credits and macro-economic management.
In her remarks, Wereke-Brobby said the British government alongside other development partners remain willing to support Malawi to achieve its development goals, including through technical assistance that could help Malawi secure beneficial deals with mining companies.
She also said the development partners have already lined up various forms of financial support to Malawi as long as the country remains on track with the International Monetary Fund.
On his part, Munthali urged the British government and other development partners to support Malawi in improving its production sectors as that is the only way the country can boost the economy and generate resource required to reduce its debt and increase fiscal space.'
https://npc.mw/2024/03/british-envoy-meets-npc-boss/
Must..have..inflation..
'Two people and a company have been sanctioned over cyber-attacks.'
I suppose its a start
"The UK has just announced that it is imposing SANCTIONS on China"
Whoopsee
Not bad Will Dawes holding 4,000,000 shares is it… glad the moneys in the coffers and just move forward on the good news now!
Yes, I bought at 5.44p, others had the opportunity but not many did.
I think this will steadily rise to 10p from here until next news.
Also think the MDA will land in new Malawi tax year, early.
This is down here because of the lack of an MDA for Songwe and the quartered Neodymium price over the last couple of years so now it's priced at the recycling tech only valuation, simple as, nothing to do with the BOD.
GL getting your buy(s) at 5s.
Lack of funding for new mining projects could reduce the availability of rare earth metals and minerals by 20-50%, creating shortages that impacts the production of batteries, McKinsey warns. Rising interest rates and less available finance made mining companies cut investment, with sector spending falling to around $40 billion in 2022, despite soaring demand."
I agree the raise is frustrating but last Thursday I was happy with the share price as it had risen from the low 5s to high 6s. At the moment we are still in the high 6s (after dilution). The dilution fear has now gone, the prospects are still the same (or better) so to be honest I’m still feeling quite positive.
I think it was milling around 5.5 because people were scared dilution would be even lower. Now we know what it is and that has to mean something.
Saying that they dont go live until 10th April so... could happen then but youd think most would have forward sold / flipped already
Would have been a disaster if they gave us shares at 5p
Everyone would be flipping for 10% (so 5.5p)
Best to keep it to those who the BoD feel will absolutely not sell (only £600K) to allow the rest of us at least preserve some value to our holdings
As another poster stated, they were trading at 5.5p for a few days and nobody was interested so we had our chance
I agree it would have been nice to offer shares to the likes of us but I wonder how many would have taken up the offer. It’s not that long ago you could pick up as many as you wanted in the low 5s but no one seemed interested in doing so.
Originally the company had a strong development model with talaksis( noble ) funding the mine build and mkango retaining a royalty on mining proceeds. when talaksis restructured that deal to an equity position in mkango the company never relaced it with a viable development plan. initially they were very successful at increasing the share price and advancing the songewe project but they failed to secure any strategic investment when the share price was building and went from a junior with a strong and clear path forward to one with no plan and no money. its been a while so I may have some of those details off some
They could have at least given us the right to buy the shares as per will reserving the right.
It's a sea change in MKA strategy but a hold/buy for me. Boo to 5p but it looks like a well thought through raise, limited and targeted. The equipment purchases and orders must have been essential to make now to unlock grants. Maybe those grants would only be possible with this cash raise (cash as opposed to borrowing).
The recycling side has lead the way recently so it's probably wise to refocus there.
Julian Treger was also bemoaning Cotec's bombed out sp last week. The market will get it soon imo. Be in when it does. Hold/buy imo.
Genuine question silvermaple, what mistakes do you think the company have made and what could they have done differently?
Hello All, Couldn’t resist missing this boat this morning, have been tempted the last few weeks but been waiting on news of the raise. Like many have indicated on here 5p was cheap but the great news is is the commitment from top management. I’m pleased there’s a focus towards Hypromag as I see this really taking off. Anything under 10p for me is a complete Bargain, I’m going to keep adding upto this price. Me thinks some big news to come soon re US funding , remember this post.
GLA
What a freaking mess. reading through todays posts it is very clear who the real retail investors are and who are here trying to present this horrible news release in a positive light on behalf of the company. idk, maybe they are family, friends, employees... who knows. But lets be clear, the last 2 raises have decimated the share price and investor confidence in this company. plain and simple. management have failed to execute and have diluted shareholder value at shameful levels. the reasons why do not matter at all. it is what it is.... and it's bloody awful
There's just no rush at all to move on from the mine or processing. Get the MDA and hold it until the market for REE corrects itself.
In the meantime focus upon recycling.
Please, if anyone hasn't looked at the USP of this technology then dig deeper. Recycling from all sources of REE components is viable. Its from mobile phones through to car batteries and then wind turbines.
It's just a no brainer that will reap benefits THIS year. A mine would be 3 years away even if REE prices were buoyant.
Hah but do we still check on her page..... again my thinking is that it is better to leave things to bigger hitters SVM and RIO to bend an MDA out of Malawi then legally it would surely mean they would have to offer the same to us... but its also possible we already have some buyer in the wings? dunno till they tell us but certainly does look like the whole mine refine recycle is now heading to just recycle which TBF for the size of this company and the global potential it holds is enough
No @Malawi or US Embassy in the announcement tweet which I think is telling ...
I'm speechless honestly, was throwing in the towel this am thankfully went for a long walk got back just before 9am
Many lessons learned today - am I happy we've raised at 5p (even with the CEO putting in £150K) absolutely not but do I understand the circumstances, of course. I still don't think it excuses a 5p placing but to raise £600K and put as much in as you could so the market only got say 30% of its expected allocation is a bold move and its currently paid off with the stock trading a whopping 40% above placing
Next steps and these need to come quick, because we cant be at the mercy of the market again in 9 months time
- revalue HyProMag, get a proper independent valuation and put that asset down on the books (cotec might do this)
- advance US funding (cotec)
- just DO SOMETHING with Songwe (tongue in cheek) there is ZERO value on the books for this asset, its probably better for SH and Malawi if we move this asset on to a bigger player, keep a royalty if possible
- Pulawy is promising but needs a lot of funding, its likely packaged with Songwe. The BoD know 100x more than I do so lets see what they achieve with Songwe/Pulawy
- Sell or do something with the Uranium asset
- The main prize, first commercial production in the UK and scale up worldwide, all of the above should be contributing t this goal in every possible way. Lets get multiple plants out there producing magnets and become one of the wests only recycled magnet producers.
And it’s only 10am !!!
Probably the first/last time I'll ever see >$50k worth bought up to 7s on a 5p placing day lol
I wonder what's coming around the corner ...