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After 2 days of losses and now the sp recovering. Today's rns has restored confidence that we are heading in the right direction. Its certainly been a nervous couple of days. All the best to everyone invested. Its been a long time coming.
That’ll do. Immediate 8% recovery which I can see improving over the week they’ve just bought themselves. The market now has a short timeframe with which to expect high impact release, so buy pressure should increase. I’d love this to get back to 25p before the BFS hits. Then we’re off to the races over the next few months. It’s happening. Slowly.
well. it's getting there slowly. next few sessions should see some of the SP losses recover. Twitterati will hopefully get things going, this stock needs all the publicity it can get
...All in the same RNS as new CFO! Get ready for BFS, CFO in place.
Mega news. They have basically said …. Look we are a little late but we are ready. Banks ? International ? Uffff. I might be accused of pumping lol but I can see the sp unchanged by close and up tomorrow.
They must have waited on banking teams to arrive and as someone mentioned they could roll out a big rns all in one. Rest assured they are watching and waiting to give us a shock. Come on mka.
Nuts are starting to roll in. Same sellers will look to buy back. 100% certain this is 22-23p next week with anticipation.
"Mr Sewell joined Mkango's President, Alex Lemon, and CEO, Will Dawes, in Malawi this week as they met with major international development and commercial bank teams visiting the Songwe Hill Rare Earths Project ("Songwe Hill") in Malawi. The results of the feasibility study for Songwe Hill will be released by the Company next week."
Interesting!
Let’s go folks. 18.2p given and I will take that all day long.
Happy hunting. :))
As I understand it, a BFS and DFS are both compiled using the same parameters in terms of the level of technical detail.
A BFS only differs in terms of presenting a case for funding from investors / bankers.
My belief (although clearly i don't know), is that project finance is already sorted and therefore a BFS is not required.
Originally, Talaxis would have earned an additional % for arranging project finance. That situation has now changed and we appear to have attracted significant interest from other parties for whom a supply of REE's is of critical national importance.
I know it's difficult but really, forget about the SP and look at the potential project value.
I'm sure we'll all find out soon enough - god knows, it's been a long haul!
I'm sure we'll find out soon enough
Great post to remind us. Surely even with all possible glitches we must be days away or even worst case next week. Can’t be as bad as we are making it out.
My buy in price if it gets there and that has serious support is 17p. It won’t get there I don’t think. Sells will start to dry up and the sniff of the rns lodged will see this zoom up to 22-23p before you know it. Can’t stomach buying anymore now as I would just prefer the sp to go up and need to calm everyone down.
MDA advanced stages - it was a really bullish update 4 months ago to now go quiet…. Fingers crossed with get the FS / MDA and financing all in one
This was the detailed update - to be completed “up to 3 months fr 7 June”.
Capital cost estimate: pricing for mechanical equipment, structural steel, civil, electrical, control and instrumentation and piping bill of quantities, process plant EPCM cost estimate, site infrastructure costs, transport estimates using equipment masses and steelwork quantities are 100% complete. Update of capital cost estimate is 90% complete.
Operating cost estimate: preparation of plant labour schedules and pay rates is 90% complete. Quantities and costs of consumables, spare parts and utility requirements is 100% complete and administration costs and other overheads are 100% complete. Verification of reagent consumption and costs are 92% complete. Update of operating cost with updated labour rates, transport and laboratory costs is 92% complete.
Environmental, Social and Health: review and impact assessments of specialist studies, rehabilitation and closure liability is 100% complete. Environmental, Social and Health Impact Assessment is 98% complete.
Sustainable energy trade-off study: investigation of alternative energy sources, compilation of energy balance, design of solar PV and detailed costing and preliminary wind resource assessment is 100% complete.
Metallurgical test work: grinding test work and trade-off, plant raw water testing, solid liquid separation test work, flotation and hydrometallurgical test work is 100% complete. Water and variability test work is 80% complete, and tailings geochemical and geotechnical test work is 50% complete and expected to be completed by the end of this month.
Processing engineering: process flow diagrams, mass balances, process description, mechanical equipment list, design basis, pipe and instrumentation diagrams, process control philosophy and HAZOP 1 and 2 are 100% complete.
Mining: in-pit services, haul road design, waste rock dump design, issue of enquiries into market, mining schedule, pit optimisation and design, storm water handling and water reticulation are 100% complete.
Mechanical, civil and structural engineering: mechanical equipment data and duty sheets, general arrangement drawings, civil design criteria, structural design criteria, bill of quantities, bulk earthworks, civil and steelwork quotes are 100% complete.
Electrical engineering: electrical design criteria, electrical load list, cable schedule, installed and consumed power schedule, electrical material take-off, electrical procurement packages, motor control centres and transformer sizing are 100% complete.
Control and instrumentation engineering: control and instrumentation design criteria, instrument data sheets and schedules, control and instrumentation material take-off, instrumentation diagrams and control and instrumentation procurement packages are 100% complete.
Piping engineering: piping design criteria and calculations, piping material take-off and piping bill of quantities, schedules for line list, pip
Lewis - to clarify , a BFS comes after the DFS - in essence it is a level of detail at which you can borrow against the project . We were supposed to be getting a BFS - although the company started taking about a DFS in later coms.
To buy more. I’ve been upset for a while about Mka but fear has caused this to slide and feel it’s getting way overdone.
Time to buy more and bring that average down.
Will top up today for sure. News is not far away although should have been out by now. Time to add folks.
Of course we still have a trading day, but unless we get some kind of update soon this company are at risk of a serious slide. I can well appreciate the magnitude of what needs sorting out behind the scenes, and we are privy to so little of it, but this company need to get their ducks in a row pronto or sentiment will start to depart. Personally I would have expected the BFS (bankable feasibility study) to have been available feb / March. I’ve waited because I believe in the fundamentals, but we need news now or the fire dies. I still believe their are eruptions behind the scenes here. There’s too much going on globally and we have such a valuable and timely resource. All will be revealed but patience is running thin now.
Oapk. Absolutely agree. Read a tweet with someone saying the same thing. Makes you wonder what the minister was thinking or maybe we can just imagine he worded it incorrectly. Either way I’m
Personally happy my average is 25% away from current prices and that push comes to shove it will eventually reach 30p or so and that where I will look to exit as I have previously stated. We as PI must understand we are invested to make profits and eventually move our investments forward.
All is not lost and I’m a million percent sure the BOD are aware of all this FUD and will look to resolve it as the earliest convenience.
Stay strong folks and keep the faith.
To be fair, the DFS is better...."Definitive feasibility study (DFS): The most detailed form of feasibility study which determines definitively whether to proceed with a project."
There’s a difference between expecting to complete and actually completing. Leaving it to the last day to announce or announce a delay or say nothing doesn’t show the board in a good light.
The fact that Minister of Mining, Albert Mbawala said “We thought they were doing a joke with Malawi” during his visit is not brilliant so it’s no wonder the price is down after the tweet. If that has been the govt attitude it raises questions about MKA and their positive tweets etc.
Lewis
Recent mentions in company docs have specifically said the FS is a definitive feasibility study (DFS). For example, from the March quarterly management discussion - " ...currently working on a definitive feasibility study (the
“Feasibility Study”) which is expected to conclude during the second quarter of 2022."
Also if you watch Alexander Lemon's interview he corrects himself to confirm it is the DFS that is about to be filed.
The company did talk about a BFS early on but for many months, perhaps since the restructuring, it has clearly been a DFS underway.
My understanding is the BFS at the end of June. I find no reference to DFS. Other than sofas :-)
MKA have consistently said they expected to complete the DFS by the end of June. In the brief interview on twitter from ITM Online on the 24th, Alexander Lemon actually said the DFS had been completed and was going through its final checks and would be lodged in a very short while. They may only report when the DFS is filed.
The MDA may well take longer. The timing is as much about the government as MKA but hopefully, again from the interviews, is going well.
The next step after that may depend on whether the restructuring of the company relates to strategic players in the background, perhaps just waiting for the MDA to be completed. If the funding is a more conventional debt and equity model then the next step may actually be to produce a BFS.
Precisely. Delays are always frustrating and the SP is being reflected by that. But when news comes, and the company advances, it will be exciting. One day left of June. We shall see. It is certainly quite annoying that there has been a lack of news but there could be a number of reasons for this…
MKA announces its BFS and/or MDA tomorrow or not, it will do very well when it does so. It has a globally important deposit of something the world needs and the West craves to have outside Chinese control. GLA.
Super. What do you make of all these large trades going through ?
Agree mate. I’ve been peeeed with them for many months. Just feel like they could have done so much more to improve the awareness and share price of Mka.
I am still holding all my shares I'm just peed off with approach management are taking. A share needs news, lots of it and on time.