Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Another good call
One caveat I will get out of the way early, as to come across balanced, is that the lead times on the equipment needed to build and scale the plants, could cause a delay (Julian hinted this was an issue, albeit the only issue) so Q4 2023 IMHO is now a slight risk without clarification
With that out of the way, it's clear this technology is truly advanced, with over £100m USD already spent on it, the investor interest across the pond is enormous, with governments, OEMS and even magnet manufacturing companies very interested and eager to get a slice of the pie
I think by Y/E we might actually see some equity investment, from third parties (hinted) grants from the US govt et. al, looks like progress will now accelerate that the JV has been formed, the 'crucial' component of having a commissioned plant in the UK doesn't appear to be as critical now, as JT said that he personally visited the plant and any US investor can visit the plant, and see it working in all its glory, so the tech is now completely proven, which is fantastic news.
So we really are now at the the funding and scale up stage, what equity we will be left with once the JV is fully funded, we will see, but to start with an overall indirect 40% interest via Maginito is very valuable, especially should the US JV reach highs of $100m+ that would be almost 2 bags on our current cap just from the JV holdings (excluding our UK and GER plants, and any other ventures in the future such as Canada or Japan)
JT also said that there is competition but we are leading the recycling space, with the attractiveness being that our refining / production is extremely green
So ultimately, at £24m cap, we may be cheaper than ever, but the market will be the judge of that over the coming years.
Thanks, GLR... I missed it:( was having fun working in the rain so will have to wait for the video to be posted...Can you explain this though:
' the 'crucial' component of having a commissioned plant in the UK doesn't appear to be as critical now, as JT said that he personally visited the plant and any US investor can visit the plant, and see it working in all its glory, so the tech is now completely proven, which is fantastic news.'
Does this mean the Tyseley plant is up and running and operational already?
Yep so we currently have two planes in the UK
A small scale ‘pilot’ plant which works 100% as expected
A currently being built larger plant that will produce a minimum of 100t/pa est. for Q423
I thought the pilot plant was the larger plant, but not the case, that is being built now and should hopefully be commissioned
Everything works so I don’t see much risk here with the tech, that must be hugely valuable, JT said any investor who wants to equity fund the US JV can go to the UK and see for themselves
And yes, he was super excited :-)
Aha thanks, GLR ... I too presumed the 'commercial' plant needed to be fully functioning first to prove up to potential investors/partners but can see how the pilot can do that already...Those pics of the products etc
Super Excited! :) .... just need that bit to translate into the SP
Here it is!
https://www.youtube.com/watch?v=335635FjLmY&list=PLtaY2C7EDECt8DOL2W_IelRenAhQhkKcl&index=18
I think that webinar was a missed opportunity the 6ix guy clearly was clueless about HyproMag and had done zero research he thought they used magnets to extract rare earths pft.....
Julian is good at answering questions but he is not good at giving unless you ask the questions! Seems only GLR asked a worthy question ...I would have liked to have known potential international rollout plans... Julian is off to Rhiad next month for example ...
Positives for Mkango are Cotec is well into and on this and is getting the message out and getting the investment interest too Mkango won't be owing Cotec anything until there is already significant value in the joint venture and the chances of grant funding are strong with US Gov and US DoD wanting and needing and funding such projects/plants and the magnet producers stateside are also already interested.....
Pretty much comes down to nailing the feedstock supply that is where Mkangos relationship with the likes of EMR is massive....
And yeah the Tyelsely commercial plant does look to be waiting on some more equipment before it is up and running but the Piolt plant has proven up the commercial viability which is of course why EMR has chosen HyproMag to recycle the wind turbine magnets that they will already be getting from Scotland, EMR has been working with HyPtpMag since at least 2020 so obviously have great confidence in the tech.
At least 5 supers! 'super green' is my fave :)