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Not happy at all. Why couldn’t we raise £500k at 14p?
This shows to me they can’t because of huge internal and company issues. Cotec gambled £500k here to save their investment.
Something is not right at all. From going concern to convertible notes. Like wth.
My break even is 23p. Looking to exit at 17-18p
This is enough. If they didn’t get Cotec funding then what ? We hit 10p yesterday.
A much needed and comforting update, will be turning away from the chats today! A few that sold out might be a bit miffed.. expecting a lot of sulking
Robbie only knows how to be a rude and unpleasant character. His prediction of a placing fell flat on its face: “Dumbo, a placing is incoming as they are running out of cash.”
Robbie, it is nothing like a death spiral agreement.
It is a conventional loan for £2m, with a 2-year term, paying a 5% coupon.
The only addendum is that Cotec can simply choose to be paid back in shares, at a fixed price of 27p per share (which happens to be a 130% premium to the current mid-price of 11.75p), rather than be paid back in cash. That would equate to 7,407,407 shares, excluding any potential rolled-up interest.
Robbie, you do not understand what death spiral financing is. The Cotec deal is not a death spiral.
Lewis, it's a death spiral. No chance of them losing anything.
RNS: £500000 additional funding.
Have not read all of the RNS yet, couldn't find the conversion terms immediately. Could someone else clarify?
Another tranche of this from May:
"CoTec will invest £2 million (C$3.2 million) into Mkango by way of a two-year, unsecured convertible note ("Mkango Note") with 5% interest, convertible into Mkango shares at 27p each, providing Mkango with additional working capital as it advances financing discussions for the Songwe Hill rare earths project ("Songwe") in Malawi and the Pulawy separation plant project in Poland"
That's about the strength of it ;)
Mr Market is at the door. He's got a buy 1 get 5 free offer for you. Seems like a good deal to me
Certainly seems so. 700k shares bought rapidly. I can’t even get excited. This better not be a trap. Something has to give here. Come on mka. Ffs
UP SHE GOES
:)
if I can find them I will buy more
https://www.intellinews.com/poland-s-azoty-group-suspends-fertiliser-production-as-high-gas-prices-sting-254344/ - maybe a reason for selloff in relation to Myles' earlier tweet today although as he says, you'd have thought this would be priced in already.
Ah, didn't know that.
Figures.
All I see is panic selling, can someone please remind me of the bad news we've had??
I'm rubbing my hands together tbh but I'm not so easy to scare out of incredible value opps like this and HUM.
Took another 30k today, happy to keep adding over the next six months - this one could be epic.
The whole company will eventually bring in a valuation north of £200m+ once all this nonsense is over
HyProMag is worth more than the entire current market valuation, and that has no known issues including fully funded by grants, it goes about its business expanding and proving ground breaking RE technology
The fact Songwe is now trading at 3.5p (if you remove HyProMag from our assets) is both sickening and incredible
Songwe's NPV is worth 60p for a 100% buyout IMO - don't say you weren't tipped ...
Not much we can do, buy hold or sell
These are the risks with investing
Long term it gets a bit easier to predict, current market cap now £22m
Cotec seemed happy to pay a £15m valuation for HyProMag, I've always thought HyProMag would be the future of MKA post Songwe (recycling RE's will be a huge business)
That's £13.5m + £1.5m cash, which now leaves £7m valuation for Songwe and the other assets (if we dont dilute)
Or ~3.5p (songwe valuation), back where it was in 2017 without any of the exploration work
Not sure there's any point with most of the screaming and hair pulling going on today but the reality is that regular PIs are stiffed by HNW guys and gals all the time, it is what it is.
Anyway, only they know what's going on as per so we'll all be thrown around in the waves of whatever it is they're up to with this drop - soon find out, it can't/won't stay down here for long.
Myles shouldn’t have to speak up, he’s no different to you or me. He wants to make money and if he feels there’s weakness in the charts or heats whispers saying a placing is close then he has to protect his money a do whatever he feels correct. He may even be involved in a placing so wouldn’t be able to speak up yet.
We all use the positives from the big accounts and his research is undoubtedly the best in the business but essentially, you make YOUR decisions.
Thickofit. Come on mate. It’s called investing. People invest. People have a right to voice opinions.
Nobody has posted thoughts like I have. Why are we down again today ? Another 15%
Single digits next ? Yet we think it will all come good.
Just to make you happy I’m over invested here and will look to get screwed if this goes t i t t s up but no your not bothered about that. Just the fact I post what I feel and think.
We have a major problem here and unless your intelligence can tell us a way out I suggest you listen to opinions or block me mate.
I’m not here to make friends. If no rns this week then we will keep falling and it’s got bog all to do with market conditions. Good luck. We all need more than luck right now I can tell u.
As a new investor and this being my first holding to be blunt I have enough of your ramblings munch. Tme and time again you make these huge outlandish predictions and hype up the situation when the reality is you are consistently wrong over and over again. I genuinely believe you don't have a clue on what you're talking about. Your "analysis" is utterly woeful, so please just stop with all your BS