Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Looks like the market agrees with the 'show me the money' sentiment.
Although in fairness, most of the market movers are not back at their desks until next week, so that might be a better time to make a short term judgement on the SP direction of travel.
Anyway, GLA while we continue to await the news that matters - black and white financing, and MDA conclusion.
Not at all. I will be delighted if they confirm a funding deal that is not poor for existing investors. The proof in the pudding etc. Same for the never ending story of 'ongoing talks' re Songwe.
I guess on an anon chat board it is difficult to see sometimes if a poster is being genuine or trying to 'buy in cheaper'.
All I can say is I am not playing any games with my words/opinions, which you can choose to believe, or not.
And I do remain hopeful that the geopolitical importance of this will ensure a good funding arrangement.
But like I said yesterday, I have been around this space too long and been burned too often, to blindly trust any company.
Ordered reactors v positive
CoTec and Mkango will make a joint decision as to whether the Joint Venture will proceed with the construction of the US Project.?????
Some people might feel rather silly this morning indeed.
Some comments here aging well this morning…
Well, I suppose it can be simply summed up with this -trading (profit-taking) has occurred and there are future uncertainties, although the sky is not quite falling in :)
I do think it's about time Mkango did some investor PR (webinar maybe) setting out the way forward for the New Year to shake off some of those uncertainties and put us and the SP on more of a sure footing.
I hope we are not going to have to go down the bucket shop equity raise route (and FWIW, I am slightly more optimistic than you about this), but I have wondered about finance for a few months now.
A good while longer actually. My scepticism about the MDA sign off has continued to grow with each tweet and rehashed article about imminent conclusions etc. Causing mirth and criticism from a few posters here along the way. My concerns that I voiced then have been entirely validated so far.
Took a punt after the CEO post-raise purchase, and I do like the magnet stuff, which is the only thing that has kept me here the past few months, in truth.
But I took profits on the last spike in the investment pot holding, and if they do a raise in the fashion that you fear they will, I will dump the small trading ones for a tax loss next financial year and put this in the bin.
However, let us continue to give them the benefit of the doubt until they prove deserving of a different opinion.
If this is as geo-politically important as we think it is, then funding should not be a problem - and also on terms that are not destructive to LTH's.
Seen this play out with too many other micro cap pre-revenue juniors over the years to give too much benefit of the doubt though. So I am watching closely and keeping my cynical hat on. GLA.
Without the MDA and associated financing package, I’ve resigned myself to a bargain bucket equity raise as we have insufficient working capital to make it through to the end of Q1. Despite much to look forward to, the Board’s failure to communicate continues to frustrate. I was disappointed to learn that commercial production from HyProMag only commences in 6 months time. It would be great to get a roadmap for commercial production from the German plant as I suspect it will not be within this calendar year.
Myles put out a tweet this morning saying he now only holds 2 stocks.
I think a few of his followers assumed he was still holding MKA and probably followed.
As he says, a trade is a trade!
LSE has started the NY with a new glitch of not being able to show any trades yay! :)
I did expect a sell-off on no MDA before year's end although I must admit not quite this one so soon but that's AIM... Mining Review Malwai will contact the Ministry on the 8th when they are back to ask what the status is of Mkangos MDA negotiations... guess I'll be nibbling at sub 10p sooner than I thought or hoped for! Here is to a game changer 2024 when finally the aligned stars shine on the SP
Please ignore. I accidentally clicked Post Message under the same post
...on £6.5k worth volume??? Ridiculous
Pretty sure there was much higher volume than that. This website just doesn't seem to have logged much of it. No trades logged before 2pm and I know there were more trades before that
...on £6.5k worth volume??? Ridiculous
Just a guess ofcourse
Looks like the steam coming out from the investors who jumped in just before Christmas based on the thought that the MDA would be done by end of year.
Indeed. RSI approaching oversold levels though, although not sure how useful such indicators are for a micro cap.
Might be tempted to add a few to the (small) current trading tranche if we see low 9's/high 8's again, but the current level does not appeal to me. Especially as this does not look like simple PI selling. Could be something, could just as easily be nothing.
No because there is no MDA yet..he means the old Uranium mine that Lotus has now taken on
Https://www.nyasatimes.com/chakwera-looks-back-in-2023-with-sombre-mood-2024-with-hope/
About halfway down "the government has completed the exercise of cleaning up a sewage of bad and poorly negotiated contracts in the energy and mining sectors"
I hope he's not referring to our MDA...
'I bet Malawi make Alex Lemon's eyes bleed behind closed doors!' I agree, he is a cool operator though and comes out with all the right statements to the Malawi media... And I do think the Ministry Of Mining, if they had the power, would have gotten the MDA over the line, but it seems there are other blocking forces, possibly the AG being the main one...
It was the Ministry that set the before end of year deadline not Mkango and once Lotus pushed expectations for their MDA back a couple of months I felt that would likely be the case for us too... I think the issue is Banking the Malwian Gov wants the money to go into Malawian banks and stay there longer than the Mining companies want it to...It'll get resolved,I note the President's New Year's speech and its positive tone for pushing through projects and removing those in Gov standing in the way....My prediction.... the MDA will arrive sometime in 2024 :))
I bet Malawi make Alex Lemon's eyes bleed behind closed doors! As said by others, it will come when it comes. When all the pieces finally fall into place, 2024 will be monumental here. Happy New Year and the best of luck to every holder.
Apparently it was only assured but not guaranteed.
So? What happened to the pre-yearend MDA then?