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Incredible deal .
Yes agree this looks good. Maybe the company can pivot away from mining and more heavily into the recycling side to leverage its tech - opportunity to be assigned a much higher valuation by the market.
This is more exciting than MDA progress too....."Ongoing discussions with US Government, potential customers and recycling partners"
You miss my point, someone asked how the repeal of the act affected progress. Simply saying it doesn't and talks ongoing.
Maybe, although reading the article over a few times it's difficult to infer that any serious progress has been made.
In January this year, Lotus and Malawi were reported to be a very long way apart in terms of their expectations from an MDA, and reading that latest article it doesn't sound like a lot has really changed since it was first highlighted in the the local Malawian press.
The extended delays, weak NdPr price and terrible performance of Globe Metals' share price since it was awarded its MDA is becoming quite concerning. Hopefully a positive update with substance will be issued soon.
Here's what was reported about Mkango and Lotus in January:
The AG said Mkango Resources Limited in particular wanted changes to the law while Globe Metals wanted government to calculate its proceeds using fixed prices, but government challenged that.
“Mkango and Globe Metals have been able to understand government’s position. For Globe Metals, the review process is at 90 while Mkango Resources is at 70 percent,” he said.
Nyirenda said they still have issues with Lotus Resources Ltd which wants to adopt an MDA between Malawi Government and Paladin, a tax holiday of 20 years and that when government is calculating taxes, it should put into account the $350 million loss Paladin made.
He said government cannot tolerate that as Malawi lost a lot in the Paladin deal.
Mkandawire, on the other hand, said the country needs to protect its resources and ensure that government benefits.
He said the companies also want government to revise downwards their rate of royalties that companies pay.
The royalties reduced from five percent to two percent but, according to the PS, Lotus wants the loyalties for the first three to be at one percent and the rest of the mine life at two percent.
Said Mkandawire: “Any investor should align himself or herself to what is prevailing in a sovereign country and Malawi is a sovereign country.
“We need our laws to protect the interest of Malawians and that is what we are doing. We will not change laws just to suit a particular entity.”
Parliamentary Committee on Natural Resources and Climate Change chairperson Welani Chilenga commended government for not giving in to the demands of the investors."
Https://miningtradenews.net/lotus-advances-kayelekera-mda-negotiations-with-malawi-government/
Safe to assume MKA progressing too against doubt that the mining ministry change would slow things.
Hopefully not much longer
*headline should read
"Huge news for the likes of MKA"
#MKA has two plants, one in Germany and one in the UK (plus a short loop plant)
No so different from the exact stage Cyclic is currently at
Holy Cow!!
Cyclic Materials, which similar to #MKA, separates permanent magnets from end of life products, get a $27m cash injection from BMW ventures
https://electricautonomy.ca/2023/05/10/cyclic-materials-27-million-bmw-i-ventures/
The Kingston Ont.-based rare earth elements recycler will use the funding to scale up its capacity, creating a hub-and-spoke network for commercial operations
Cyclic Materials, a Kingston, Ont.-based advanced metals recycling startup, has raised $27 million in series A funding to begin commercialization of its plans to create a circular supply chain for rare earth elements (REE) and critical materials in Canada.
BMW Group’s venture capital arm, BMW i Ventures (BiV), along with Energy Impact Partners led the funding round last month. Other participants include Fifth Wall, Bioindustrial Innovation Canada and previous investor Planetary Technologies.
“We are an early-stage company. We
Nm
Pentagon are coming for MKA resources
The US has certainly poured plenty of "aid" into Malawi over the past year so hearing they're about to drop an awful lot of money in creating a decent Embassy compound is all the more interesting.
If Mkango were to secure the Pentagon as on offtake it would 4x overnight.
"During the Coronation weekend it was a Privilege and Honour for #MKA to meet His Excellency the President of Malawi Lazarus Chakwera,as well as the Minister of Foreign Affairs Hon Nancy Tembo, High Commissioner Thomas Bisika and Secretary to the President & Cabinet Mrs Colleen Zamba and discuss the Songwe Rare Earth Mining Project"
#mka #RareEarths
Oh god are you here now Earl... zzzzzzz
Next week should hear what happened during the discussion
https://twitter.com/MkangoResources/status/1655872870667395072?t=NuvGl_fQyOdsGgVNxNd04A&s=19
Worth a look at MKA official tweet
The price of NdPr also seems to have (at least for now) stopped it's decline.
https://tradingeconomics.com/commodities
Don't forget China of course - how fab to get caught in the middle of a tug-of-war between them and the Yanks lol
https://unherd.com/thepost/what-chinas-rare-earth-metal-ban-means-for-the-west/
Some one just replied to that tweet stating article is dated 19th January - Monty Montana
That was from Jan 19th from this article I assume bit even so if maturing we could be nearly there:-
https://capsindia.org/the-future-of-us-investment-in-africas-critical-minerals-securing-its-supply-chain/
Probably related to this...looks like game on!
https://twitter.com/OC7990/status/1656657785529200648?s=20
Why the rise? Has something happened?
Yep - and pity the suckers who sold at 10p this morning!
Well that was interesting - you just never know what's going on behind the boards eh?
The CEO's recent £100k @ 12.85p was perhaps a, er, "knowing" move after all ...