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If there is something interesting in the Rutile deposits, probably sale of the resource to Soverign (or license out) would be the best way to obtain any value from this.
MKA is so undervalued, under the radar that it is a screaming long term buy. There have been some important developments at the start of 2023 (Songwe environmental approval, CoTec investment and Malawi professionally progressing MDA regime) but there is allot more to come.
Putting aside the rear earth mining in Malawi there is a huge potential licencing business for the magnetic material recycling. The company will have a number of its own plants but I can also see the model expanding rapidly into licecing of 3rd party production in Europe and the US. This will mean little capital requirement and a stead/growing revenue stream from licencing.
I have now invested about £150k in this (across both UK and Canada listings). I am looking at minimum holding period of 3 years, so one for the long term. If anything I actually hope share price does nothing for a few more months so that I can slowly accumulate more.
I've just watched the Proactive interview with CEO and founder of Cotec, goodness me!
Unicorn company in the making imho DYOR
out of ideas to explain this. I don't understand, out of my depth. have a good weekend
.. and still you get idiots selling! -makes you wonder what they are switching it in to - which they see as a better bet!
completely shocking that people won't pay 16p for this with cotec insiders piling in at 27. crazy
The Money Guys are prepping nicely.
looks like insiders are funding almost the entire amount. NICE !!!
VANCOUVER, BC / ACCESSWIRE / February 2, 2023 / CoTec Holdings Corp.
CTH
(the "Corporation") is pleased to announce that it has completed a third closing (the "Closing") of its previously announced non-brokered private placement of units (each, a "Unit") at a price of $0.50 per Unit (the "Private Placement"). Each Unit consists of one common share in the capital of the Corporation (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.75 for a period of 12 months following the issuance of the Units.
Pursuant to the Closing, the Corporation issued 5,069,796 Units for gross proceeds of $2,534,898, resulting in an aggregate total of 8,984,904 Units issued in the Private Placement for aggregate gross proceeds of $4,492,452. The Corporation has used and will use the gross proceeds of the Private Placement to fund investment commitments, to repay amounts owing to Kings Chapel (as defined below) and for working capital purposes.
Insiders of the Corporation participated in the Private Placement and purchased an aggregate of 8,271,448 Units for gross proceeds of $4,135,724. As a result, the Private Placement is a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Private Placement is exempt from the formal valuation requirements of MI 61-101 pursuant to subsection 5.5(b) of MI-61-101 because the Common Shares are listed only on the TSX Venture Exchange (the "TSXV") and is exempt from the minority shareholder approval requirements of MI 61-101 pursuant to subsection 5.5(a) of MI 61-101 because neither the fair market value of the Units to be issued to related parties nor the consideration to be paid by related parties pursuant to the Private Placement is expected to exceed 25% of the Corporation's market capitalization as determined in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the expected date of the Initial Closing as the participation therein by related parties was not settled until shortly prior to the closing of the Offering.
All securities issued to Canadian investors in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.
GLR - Should be enough to pay the £1.5m for HyProMag?
https://www.benzinga.com/pressreleases/23/02/ac30685105/cotec-holdings-corp-announces-third-closing-of-non-brokered-private-placement
Just keep hitting 15p chaps and she'll be fine.
It's a great undervalued company with many strings to its bow. It's already been given wide exposure to interested potential funders as well as already having secured EU money, Cotec and Talaxis etc. There may be fierce competition amongst the interested funders now! Equity dilution isn't bad if the timing and price is right and it's part of the best funding deal. The BoD is strong, they won't undersell and shareholders should be confident and excited imo.
Yes there are still many risks, but I am beginning to feel that MKA is a grossly undervalued and represents a rare opportunity to get into a strategic mining / recycling share that may re-rate multiple times over the next years
Absolutely there will be dilution along the way but that new equity is what will get this going. Maybe not an interesting one for short term traders, but personally that is not something that I get involved in.
I am here for the next 3 years for sure, after that will see. That is if we re not bought out before that
Well, someone just paid C$0.345 (+18.5%); equivalent p21.01.
Admittently, low volume: 23000 total so far
So on this good news and wakey wakey market I take an even bigger loss! Textbook sell on good news buy on bad perhaps: but what if I bought on the previous bad news at 37p.....errm, wait for even worse news then get out quick. And if there is good news?...Get out even quicker! BWALTHs and LLREE and EVs
I'm surprised by the SP action today. This was a really good RNS. Short term working capital secured, with a converted price at double the current SP. If that isn't a vote of confidence, what is? In the current climate that is remarkable. The longer term funding requirements are likely to be met by a combination of access to grant funding and investment partners. We all know there have been delays, which is why the SP is subdued but I have confidence that 2024 will be transformational for the company and shareholders. GLA
A rather peculiar time to jump ship, I must say.
https://maginito.com/
Take a look. Impressive in my view. All undervalued against peers.
Thanks for that thoughtful input, GLR. Even more to mull over. I've followed JT for some time and he does the due diligence. Magninito has great potential and it's been JT's job to figure out companies like this. The rest really is gravy.
Interesting post Dogberry
Whoever sold, I don't think read the RNS correctly and maybe though we had given up a stake in the entire group, it was certainly a bid smashing event that felt more like panic than logic or reason
For everyone who digested the RNS (I got it wrong at first, thought we had another £2m coming in at 27p) it is fantastic news
Highlights
£452,500 invested at 27p, yes 27p
The above investment in MKA can be converted into Maginito Shares, which would increase Cotects holding to 20.05% of Maginito
If so, Cotec will be allowed two people on the board (JT would be nice and likely himself - recently called HyProMag a potential billion dollar investment)
So in short, that would be ~£3.5m for a 20.05% stake in HyProMag with two new board members from Cotec and a reshuffle of the subsidiaries over on the recycling side to include Maginito right at the top with MKA RE UK under that
£3.5m for 20% so the recycling group alone now has a valuation of ~£17.5m
Which leaves Songwe all alone on the other side, under Lancaster Exploration, of which we own alongside Talaxis, being left at this market cap, a very undervalued £15-17m if you minus Thambani licenses et al
Cheap as chips!
Cotec and Mkango will also work on a strategic US collaboration agreement in the RE sector, interesting!
NT funding sorted, MDA next please!
**buy at 15.3p, not 15.13p
I should have written "more searches" rather than more people searching.
I also added a few at 0.1532 and felt okay with that as it's at the lower end of today. Someone and it could be a group of people may have been holding this back on good news for some time. Maybe until the MDA is released on Songwe.
One interesting fact: on GOOGLE TRENDS there are more people searching online for MKANGO in Malawi and Zambia than anywhere else on the planet. I realise MKA is based in Malawi so it may be nothing. But there again, . . .
But on rumour, sell on news? I just managed to get a tranche at 15.13p. I'm very happy about this but the price is moving in the wrong direction atm
It's natural given the recent rise from 10p. New money comes in.
Interesting that the notes are bound to full finance of Songwe which highlights for me that is all running in the background.
It value magneto in its early stages at a mere 15million too, valuing the rest of mka at this mcap at a mere 20million.
It will catchup to reality soon. Very interested in how US/Can investors react later today.
Clueless idiots selling, that’s who! Serous investment in at 27p and folk selling in the teens after confirmation of funding!