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Progress here has always been glacial - the DFS took years - that wasn’t a Malawi issue. I’ve never understood the delays. I know it’s Africa but can’t help feel that the BoD drag their feet too - I’m just uneasy about agenda’s.
Looks like we will be dropping below 10 today. pathetic
'n January 2023, the Ministry of Mining hinted at investing K5 billion in the establishment of the company but was not allocated resources in this year’s budget.
In an interview Wednesday, mining expert Grain Malunga said the country is losing focus on harnessing the potential in the mining sector.
He said if well funded and operational, the mining company would ensure speed in mining projects and processes including signing of Mining Development Agreements (MDA).
“We are lacking direction and delaying in signing of MDAs because there is nobody tasked to specifically look into it.
“The directive to establish the mining company came from the office of the president, so the Minister of Finance needs to be serious in terms of looking at some of these directives that have got a huge bearing in terms of economic growth,” Malunga said.
He said further delays entail a loss for the country in both revenue and returns from mining activities.'
https://times.mw/government-faulted-on-mining-company/
Certainly feels that way... snails pace doesn't do this justice. It does make you wonder what the BOD are doing, or have been doing for the past few months. Hopefully a lot going on behind the scenes and its close. On the other hand, maybe they're just sat around scratching and sniffing their butt holes. My best guess is Malawi have conceded a few sticking points and agreed to change a law or 2 which would take time... but that's a finger in the air moment.
I wonder if the board are on holiday...
Would it not be a more derisked investment if you bought cotech shares instead? Or are they private!
Up 12% on 70k vol
Bit of a top-up for me earlier.
I do like the way they are happy to aggressively push up the value of their own investments.
Bodes well for our co-investment going forward.
Yup - they have quite the track record for those who can be bothered to read up ...
Cotec just announced their initial $2.1m in MagIron is now worth $25m, more than the entire cap of their holdings company
These guys are very serious, imagine in 6-12 months when HyProMag gets re-valued!
They've got four investments and one of them has just done a ten bagger, bet against the others at your peril!
https://www.accesswire.com/761989/CoTec-Holdings-Corp-Increases-Investment-in-MagIron-Following-Significant-Increase-in-MagIron-Valuation
Neodymium up *again* - something cooking there ...
Thread on Poland becoming a new MIC centre for the Yanks - I couldn't help join up the dots as our other plant is in Poland and we know MKA are in talks with the Yanks who have committed to establishing a proper embassy facility there ...
https://twitter.com/Halsrethink/status/1669669946983346176?s=20
It looked down to me earlier in the day but has spiked even higher now - top-up for moi soon.
Neodymium up another 2.5% today. Continually attractive to start digging
Looks like it - 9p does look good here - fingers crossed.
Sub 10 back on the cards?
Goodness me! Why the site bleeped out the first word of that last sentence is beyond me. Never knew it was potentially offensive! OK - hence being such a scared cat then :)
hence my tentativeness as a (small) holder here! would have probably gone for a bigger position were things less uncertain on that particular front. you could argue some of it may be in the price. i am unsure in either direction about this at the moment. hence being such a ***** cat to date in this name!
I see further down the US has warned Malawi about their visit to Moscow.
Well, at some point the talking needs to stop and the politicians need to deliver.
From a geopolitical perspective, it would be very useful to have Malawi onside, or at least neutral (rather than 'siding' with the BRICS). Anyway, IMO if we get this MDA over the line, that will go a long way to putting my mind at rest. GLA.
Ah, for a world without all this geopolitics!
Actions speak louder than words. So much guff about boosting investment but we're spectacularly delayed on the MDA
Https://www.nyasatimes.com/chakwera-says-malawi-is-next-biggest-investment-destination/
And let's hope that car battery technology doesn't discover that it can get by with other than rare earth metals in the meantime. Ive got until December 2026 before mortgage due for payment. Surely we'll have an MDA before then LOL ??
Just added another £5k at 10.66p to take my current holding to over 800,000 shares. Hope that illustrates my confidence in this company going forward. If it ever does hit the mythical £1 share price often referred to on this blog, I could afford to pay off my mortgage and buy a nice little winter apartment in Oz, (where I have dual nationality having lived there for 10 years back in the 80's). Until then just pray and hope every day that this MDA lands and we can crack on with getting some stuff out of the ground.