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MDA news must surely be close?
Eyes down peeps.
Https://www.proactiveinvestors.co.uk/companies/news/1040094/globe-metals-and-mining-closer-to-opening-first-globally-significant-niobium-mine-in-50-years-after-positive-study-1040094.html?rel=scroll
Impressive update from Globe. Mka are further advanced so should hit the ground running once the MDA lands.
Thanks Leister
Mixed signals. Deadlock doesn't sound good but "only" taxes on profits and a (surely) trivial issue about sourcing chemicals/reagents mentioned specifically. Lotus nearly there? MKA not far behind?
Songwe is worth 5x the current SP/mcap with Neodymium back at its prior high so a bit of M&A vibe is inevitable while everything is suppressed - it can't go on forever.
That's why buy cheap and hold nearly always works - it's the holding bit that's difficult though :)
it’s disappointing to me that there’s no update whatsoever from either malawi gov or mkango in the progress of the mda. given monica’s statement last year about signing before end of 23, and that fact we are now feb 24 is pretty shocking tbh. these people expect to be seen as serious politicians, they are just inept council workers. of the worst kind. couldn’t fill a fx@cling pot hole these ****s.
I see Malawi Gov still giving Lotus mixed signals on signing MDA! How accurate is the journalism over there?
https://mwnation.com/govt-investor-in-stalemate-on-kayelekera/
I meant #CRMA complete package :)
Might be a little left field but Lynas seem to be on the hunt for acquisitions... Mkango is the perfect complete CTMA reafy package so now MP merger is off maybe just maybe a possibility?
'Lynas Rare Earths and MP Materials: Exploring Potential Transactions Amid Strategic Growth Plans
Lynas Rare Earths Limited (ASX: LYC; OTC:LYSDY), a leading Australian producer of separated rare earth materials, has recently been the subject of media speculation concerning a potential transaction with MP Materials Corp (NYSE: MP), the largest producer of rare earth materials in the Western Hemisphere. While confirming past discussions with MP Materials, Lynas clarifies that these talks are not currently ongoing, emphasizing its focus on organic growth and strategic opportunities.
'While discussions between Lynas Rare Earths and MP Materials may have paused, the strategic considerations behind such talks highlight the dynamic nature of the rare earth sector and the ongoing efforts by leading companies to secure a sustainable and competitive future. As Lynas continues to pursue its growth strategy, the industry watches closely for new developments that could signal shifts in the global supply chain and market dynamics.
Well known China are their friends.
Agree and its not like they can blame it on the carpet as it was successfully found
...what's going on behind the scenes.
Is it individual politicians holding out for bribes or a cheap entry point or is the Malawian ministry insisting on such onerous terms that Mkango cannot possibly consent?
In an earlier interview, Director of Mining Samuel Sakhuta said there are a number of projects expected to commence soon, which will contribute to the growth.
https://www.businessmalawi.com/mining-sector-to-grow-by-5-8-the-times-group/
Thanks Bonker99, an informative article. I didn’t realise there were so many to tap into. Let’s hope we get some good news soon
My understanding is that the "few" outstanding MDA points under negotiation are still fx, foreign accounts and royalties. Below are the main provisions re those points Globe got in March. We're rather caught in the middle and suffering as MKA shareholders, and Malawi are risking being seen as uninvestable by delaying. Definitely time for a breakthrough from everyone's p.o.v.
It'll be hard to depart radically from what Globe got despite talk of changing the law around fx, and there'll be devil in the detail. But they've surely had time enough to sort it all now.
The good news imo is that MKA's MDA is the last big piece in our jigsaw so things should move quickly when we get it. Globe's was an early piece in theirs, before much of the feasibility work, and project funding.
• Globe is required to comply with all applicable foreign currency laws but is permitted to maintain
one or more foreign currency accounts outside of Malawi to meet its foreign currency obligations to
the initial Project Lender for a period of 7 years after the establishment of the relevant account or
the date on which the Company has discharged all its obligations to the initial Project Lender. These
obligations include (but are not limited to) the payment of interest and principal to the Project
Lender, the payment of mandatory pre-payments to the Project Lender, and the establishment and
maintenance of reserves as required by the Project Lender.
• The Malawi Government is to receive, at no cost, a non-diluting 10% equity interest in the Project,
with an option to acquire up to a further 10% equity interest (Equity Option) upon completion of
the construction, commissioning, and start-up of operations at the Project as approved by the
Project Lender. The Equity Option is a fully contributory interest and is capable of being diluted if
the Government does not meet any call by Globe for additional equity funding.
• The Malawi Government will receive a statutory royalty of 5% of all revenue earned from the mining
and processing of ore at the Project. The Kanyika community will receive a royalty of 0.45% as
prescribed under the Act.
Key Targets for 2024:
Completion of the HyProMag USA Feasibility Study
Engage with US Government to secure potential grant funding for HyProMag USA.
Microsoft's Edge browser warns that Baidu's website has been reported as unsafe, raising questions about whether two big tech companies are at war in the Chinese market.
Both parties have responded that they are currently unaware of the situation
There's, literally, billions of Pounds of funding available in the UK and the rare earths recycling tech ticks all the boxes re ESG, innovation, technology and local jobs support.
https://www.twobirds.com/en/insights/2023/uk/what-is-the-uks-critical-minerals-strategy-and-how-does-it-compare#:~:text=The%20UK%20Critical%20Minerals%20Strategy,industry%20now%20and%20in%20future%E2%80%9D.
I'd certainly think Mkango will be looking at various funding /partnership options, not just an 'X'p dilutive raising but I'm sure we will get to know soonish
'Innovate UK, part of UK Research and Innovation, will invest up to £4 million in innovation projects as part of the CLIMATES programme. Your project must be focused on circular critical materials supply chains.
The aim of this competition is to stimulate growth in a circular critical materials supply chain for rare earth elements (REEs), or alternative materials. Your collaborative innovation project will address opportunities across the whole value chain and help increase supply chain resilience. Rare earth elements (REEs) are seventeen chemical elements in the periodic table, the fifteen Lanthanides (elements 57-71 inclusive) plus Scandium and Yttrium.
This competition is split into 2 strands:
Strand 1 is for early-stage feasibility studies (costing up to £250k). These projects will facilitate the adoption of new innovations in processes, technologies or services by industry, to grow a more resilient UK supply chain for REEs.
Strand 2 is for mid and late-stage research and development (R&D) projects (costing up to £700k). These projects will accelerate the industrialisation and commercialisation of innovative processes, technologies and services, to grow a more resilient UK supply chain for REEs.
It is your responsibility to ensure you submit your application to the correct strand for your project. You will not be able to transfer your application and it will not be sent for assessment if it is out of scope.
To keep in touch with updates on the CLIMATES programme,'
https://iuk.ktn-uk.org/opportunities/climates-supply-chain-innovations-for-rare-earths/
Discussion is all good - I raised the prospect of a placing myself last week - that's not the issue, claiming you know it's happening and what the price is becomes an issue for the FCA if you knowingly spread BS like that on a public forum - I hope you have a good VPN son.