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. Design and engineering studies by lead engineer SENET (a DRA Global Group Company) are nearing completion, with the Songwe Feasibility Study targeted for the first quarter of next year.
I mentioned yesterday we round get a few sellers. We did buy 7% down is ridiculous. I don’t think this will hit 40p this week. Maybe in a few weeks but it’s getting frustrating with so much news due and little time to say it all. What is going on. Getting bored of this. Waited long enough. Mka need to pull their finger out.
Hold for gold
Interesting tactics today. Low bid, low volume. Ask remaining above the highest sell price for now. Looks like they are going to lock out most of the sellers. Loathe to say weak hands because everyone sells for different reasons, but it does seem quite opportunistic to pick up a few on the cheap after yesterday's obvious strength. We shall see. News hasn't even started...
New MKA but have been researching over the last few days. Posting here in case it's of use to anybody else thinking about entering. For transparency I took a position this morning at 29.18. Happy for anybody to correct me on any of the below.
The Company has been piloting hydrometallurgy processing flowsheet at Songwe Hill Rare Earth Element (REE) Project ahead of a Feasibility Study which expects in 1Q2022. Good summaries of the site https://mininginmalawi.files.wordpress.com/2019/04/2019-mkango-resources-ni-43-101-technical-report.pdf and https://www.sciencedirect.com/science/article/pii/S1464343X17302546
A summary of the Hydrometallurgy process is here: http://www.eurare.org/technologies/hydrometallurgy.html.
The Company announced on 14/12/21 that 'The piloting of the hydrometallurgy processing flowsheet is an integral part of the Feasibility Study and a critical step towards commercialisation of the Songwe project.'
Financial Statements as at 30/09/21 show cash balances of USD6,248,312 with working capital of USD5,276,613. The notes to the accounts state: 'The Company’s cash requirement for the next twelve months relates mainly to the completion of its Definitive Feasibility Study (“Feasibility Study”) for its Songwe Hill Project. Following the private placement which raised approximately $7.2 million net of expenses, the Company’s cash flow forecast reflects that the Company will have sufficient funding to meet its planned expenditure for at least the next 12 months.'
So in short baring any major disasters MKA is fully funded to complete the Feasibility Study.
In it's Sept 21 Management Discussion and Analysis
(https://mkango.ca/site/assets/files/4864/mkango_mda_sep_30_2021_-_final.pdf) MKA said: 'Updated mining and economic information will be generated as part of the ongoing Feasibility Study based on the new resource.'
This valuation analysis might also be helpful albeit done when MKA only owned 50% of Songwe Hill (it now owns 100%): https://aimchaos.files.wordpress.com/2021/03/mkango-resources-valuation-analysis-17.03.2021.pdf
IMO should build strongly towards Feasibility Study completion and if you look at the buys by interested parties it bodes well for confidence.
What the market is missing is that Rare Earths should sadly benefit from the current geopolitical crisis. This key critical mineral could very easily be used as leverage by alliances in the east.
MKA = CHEAP and at big discount to Pensana
Holding very strong. Can see a nice blue finish towards the end of the day. Few dearth buys will push this blue. ;))
The lack of a buying opp first thing tells you a lot about the RS here.
Let’s hope so!!!
They need REE to make more missiles...win win!
There won’t be a war. They will just take the break away regions via rebels
…and then there was war ??
Totally agree with everything you said mate, although sentiment is building daily
Quick summary. Last 2 trading days has seen amazing volume. That has been assisted with price rise which bodes really well, when there’s a price breakout then volume has to be heavy to assist it and keep it going.
Tomorrow would be ideal for that volume to continue albeit some might start to take a few % profit like today, a few small sellers but the big trades were all buys.
Volume remains key…. Let’s keep smashing 100+ trades, 105 on Friday, 133 today …tomorrow I’m going for 150+.
Price finished strong in to close suggesting another mark up tomorrow morning, sentiment hopefully will be calm again although there’s been some negative movement regarding Russia. Let’s hope they drop a Jaffa this week and long may they keep dropping them because 40p beckons here really fast and then it’s 50s 60s as we attack higher levels.
Finally remember MKA is capable of 30-40% jumps so I am not going anywhere until that SOMGWE rns lands and it mentions one of the governments …this will be up by 50-70% maybe more. So hold your golden tickets and enjoy the ride !!
Lmao
The date....22/2/22....
All lined up!
In what way ?
No tomorrow....definitely.
They will only line up once we get the bfs news and a buy out offer
Tomorrow without a doubt all the ducks will line up...
Delayed buys from 18th printed
Good finish to the day. Had to, just had to put some green numbers in today after weekend socials and what’s in store.
More of the same tomorrow plz. Thankfully market sentiment was calm. We can most definitely push towards ATH this week if we get at least one big rns. We will.
Here comes 30..
Was nt and still is
This has to blow soon surely
Any amount