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First production of rare earth magnets from Tyseley is targeted for this year.
Their marketing and PR should make the most of this and the international angle and potential. TV pix etc of those magnets rolling off the production lines please. Huge green story just weeks away now.
Man. This board is always so aggressive.
Strange question. Its right there in the RNS. More good news as the juggernaut continues to gain traction.
Have a read of the RNS. They discuss a hub and 3 spoke model.
How many planta in usa is this based on?
Great update, put into context mka mcap currently 18mill. Potential revenue if 50mill at least per annum from US.
No consideration for other territories or malawi. Won't be long before people wake up to the low rating.
Or at least if not overdue then due this month all things being equal.
I would definitely agree that the MDA is overdue
Sorry, typo on DFS year, not 2023 it was 2022:
For MKA:
DFS on 05/07/2022, MDA Final Review 26/01/2023 with the ESHIA approval "The Malawi Ministry of Justice has appointed a London based international law firm with mining expertise to carry out a FINAL review of the Mining Development Agreement ("MDA") and we are hoping to shortly conclude an agreement that is a win-win for both the Nation of Malawi and all of Mkango's stakeholders."
So this looks like we have our 'final' as per GBE as of Jan 2023 so then we are looking at 9 months or so. I put that squarely in October 2023. I would say the MDA is overdue.
Apart from other news sources (thanks Sharminator - this led me onto GBE below analysis of the MDA below):
https://miningtradenews.net/?s=MKANGO
I have been trying to find out the timelines on the MDA, which can depend on the project of course. The below are from Globe Mining and Metals (ASX: GBE)
GBE: udate on MDA: 22/7/22: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02544448-6A1100664?access_token=83ff96335c2d45a094df02a206a39ff4
MDA approved: 29/3/23: https://announcements.asx.com.au/asxpdf/20230329/pdf/45n4cjcnd7bywn.pdf
For GBE it appears to be about 7 months from DFS to MDA Final status, then 9 months from MDA final update to Approval.
For MKA:
DFS on 05/07/2023, MDA Final Review 26/01/2023 with the ESHIA approval "The Malawi Ministry of Justice has appointed a London based international law firm with mining expertise to carry out a FINAL review of the Mining Development Agreement ("MDA") and we are hoping to shortly conclude an agreement that is a win-win for both the Nation of Malawi and all of Mkango's stakeholders."
So this looks like we have our 'final' as per GBE as of Jan 2023 so then we are looking at 9 months or so. I put that squarely in October 2023. I would say the MDA is overdue.
Thoughts?
Interesting website - also spotted this (apologies if posted before as it is a month old):
https://furtherafrica.com/2023/09/07/rare-earth-projects-to-watch-in-africa/
Doubt it,I think it's more for EV metals mined in the UK?.... maybe the Cornish mine for Lithium?
But great that Mkango has crashed the party as it were :).. Rare Earths are needed critical minerals there will have been some interesting convos and conections made no doubts ...
Thanks for sharing this Crumbs. I particularly like the paragraph “ The US is seeking private investment in 15 projects across five continents, ranging from extraction to processing, including one in the UK, he said.” Could he be referring to MKA I wonder?
All rather timely for this:
https://financialpost.com/pmn/business-pmn/us-turns-to-private-investment-for-critical-mineral-projects
(Bloomberg) — The US will unveil a network of private companies to help spur investment in 15 global critical-minerals projects designed to create a more secure supply chain of key metals.
The consortium, which includes mining and technology firms, will act as sources of information and investment for the Minerals Security Partnership, which comprises of 14 nations including the US, UK, European Union and Japan. The countries, along with some large producing nations, will meet in London on Oct. 10 to discuss how to finance the critical mineral projects, as well as environmental concerns. The focus will be on minerals used in electric car batteries.
Article content
“No country can do it alone,” Jose Fernandez, US under secretary for economic growth, energy and the environment, said at a press briefing in London on Thursday. The US is seeking private investment in 15 projects across five continents, ranging from extraction to processing, including one in the UK, he said.
“It’s a project that is very promising that we are eager to support,” Fernandez said of the UK project. He declined to provide details.
Read More: Why the Fight for ‘Critical Minerals’ Is Heating Up: QuickTake
Encouraging private sector companies to invest is a crucial part of the partnership’s aim to funnel foreign investment into a sector that supplies the raw materials crucial to the EVs and solar panels that underpin efforts to usher in a greener economy.
The US and other nations are also focused on securing a resource supply chain that’s crucial to advanced manufacturing but remains almost totally dominated by China, which controls most of the market for processing and refining minerals such as cobalt, lithium and other rare earths.
Read More: US Seeks to Bolster Lithium, Cobalt Supply Chains Beyond China
The US signed a critical minerals agreement with Japan earlier this year which allows EVs that use materials that have been collected or processed in Japan to be eligible for incentives under the US Inflation Reduction Act, and is negotiating similar deals with the EU and UK, Fernandez said.
“We’re currently in conversations with both the EU and with the UK and those conversations are intense, they are ongoing,” he said.
@CMIA_alliance was honoured to host a reception for 🇺🇸 Undersecretary Jose Fernandez @State_E yesterday in Westminister 🇬🇧 and welcome Minister @Nus_Ghani alongside industry leaders from across critical minerals supply chains ... Thank you to our sponsors @MkangoResources & @benchmarkmin https://twitter.com/Share_Talk/status/1710349026858570224
BTW that's not just Will, Derek Linfield is there too...nice
Https://twitter.com/CMIA_alliance/status/1710321075903439283/photo/1
And that's not a bad position either
I believe that's our will there.... networking
https://twitter.com/CMIA_alliance/status/1710321075903439283/photo/4
Jose W. Fernandez, United States Under Secretary of State for Economic Growth, Energy, and the Environment, attends a reception in London, hosted by Critical Minerals Alliance and sponsored by Mkango Resources...
https://twitter.com/CMIA_alliance/status/1710321075903439283?t=1d3anokh-oSTq8TXu9bgiA&s=19
It's the well known.. wouldn't want to be out of this for the weekend.... action 😂
Some serious buying into the close. Wonder if some positive news is going to be announced on Monday?
Unlikely - sells just a smidgen over 8p were well below the selling price at that time so my money is on freetraders selling at max lowest price (hence the word 'free' as no trade fee but not 'free' as screwed on the spread).
Down to the 7s maybe?
Https://thewest.com.au/business/bulls-n-bears/lindian-sets-out-giant-target-for-malawi-rare-earths-play-c-12114678
At least there is activity in malawi. I suspect and I have said this before, that we will get a deal done in Q4.
Regardless, I see the lack of MDA at this time a blessing to allow focus on magnito. Doing a finance raise for Songwe would have been a challenge. I say let the dust settle, generate revenue from magnets and reevaluate.
MDA dropping is still good news of course