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News today or tomorrow, possibly another small advance or finally close out the transaction
Yes and Yes!!!!
I like this bit!
United States Co-operation Agreement
Subject to Maginito Investment Closing, Maginito and CoTec will enter into a co-operation agreement regarding future investments in rare earth processing technology opportunities in the United States.
Wakey Wakey market !!
Yes great news but whom is deliberately selling into this good news?
Shorts?
Kinhell!
GL.
I've been watching MKA for a number of months but been concerned re funding - the RNS provides some short term assurance at least so I am now in at 16.4p
Clueless idiots selling, that’s who! Serous investment in at 27p and folk selling in the teens after confirmation of funding!
But on rumour, sell on news? I just managed to get a tranche at 15.13p. I'm very happy about this but the price is moving in the wrong direction atm
I also added a few at 0.1532 and felt okay with that as it's at the lower end of today. Someone and it could be a group of people may have been holding this back on good news for some time. Maybe until the MDA is released on Songwe.
One interesting fact: on GOOGLE TRENDS there are more people searching online for MKANGO in Malawi and Zambia than anywhere else on the planet. I realise MKA is based in Malawi so it may be nothing. But there again, . . .
I should have written "more searches" rather than more people searching.
**buy at 15.3p, not 15.13p
Interesting post Dogberry
Whoever sold, I don't think read the RNS correctly and maybe though we had given up a stake in the entire group, it was certainly a bid smashing event that felt more like panic than logic or reason
For everyone who digested the RNS (I got it wrong at first, thought we had another £2m coming in at 27p) it is fantastic news
Highlights
£452,500 invested at 27p, yes 27p
The above investment in MKA can be converted into Maginito Shares, which would increase Cotects holding to 20.05% of Maginito
If so, Cotec will be allowed two people on the board (JT would be nice and likely himself - recently called HyProMag a potential billion dollar investment)
So in short, that would be ~£3.5m for a 20.05% stake in HyProMag with two new board members from Cotec and a reshuffle of the subsidiaries over on the recycling side to include Maginito right at the top with MKA RE UK under that
£3.5m for 20% so the recycling group alone now has a valuation of ~£17.5m
Which leaves Songwe all alone on the other side, under Lancaster Exploration, of which we own alongside Talaxis, being left at this market cap, a very undervalued £15-17m if you minus Thambani licenses et al
Cheap as chips!
Cotec and Mkango will also work on a strategic US collaboration agreement in the RE sector, interesting!
NT funding sorted, MDA next please!
Thanks for that thoughtful input, GLR. Even more to mull over. I've followed JT for some time and he does the due diligence. Magninito has great potential and it's been JT's job to figure out companies like this. The rest really is gravy.
A rather peculiar time to jump ship, I must say.
I'm surprised by the SP action today. This was a really good RNS. Short term working capital secured, with a converted price at double the current SP. If that isn't a vote of confidence, what is? In the current climate that is remarkable. The longer term funding requirements are likely to be met by a combination of access to grant funding and investment partners. We all know there have been delays, which is why the SP is subdued but I have confidence that 2024 will be transformational for the company and shareholders. GLA
So on this good news and wakey wakey market I take an even bigger loss! Textbook sell on good news buy on bad perhaps: but what if I bought on the previous bad news at 37p.....errm, wait for even worse news then get out quick. And if there is good news?...Get out even quicker! BWALTHs and LLREE and EVs