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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.
Good start... 😂
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?
songwe is central to the whole strategy. no way we're selling it.
not only that, but if we finally get an mda at songwe, it also boosts the potential value of our other assets in malawi and paves the way for mda's there too, if we choose to develop them.
i'm confident that funding is sorted for songwe, but hey, i was confident that ****nal would win today and i got that wrong!
hny to all the long termers - it'll come
Given the amount of time and shareholder cash that has gone into Songwe, I doubt many LTH's would agree with you.
I do however agree that I would far rather it be sold off, rather than us carrying it on after MDA approval. Unless we get an amazing funding deal that does not destroy existing shareholders.
But I guess the politicians meant the end of 2024, rather than 2023 for this decision?
Silly us for mistaking their words, but on the plus side, we have more time to play with I suppose :)
Looks good. If MKA can get first mover status with all the older Wind turbines there’s upto 400kgs of rare earth magnets in each nacelles. A big market over the next few years as we pass the 20year lifespan??
Gla
Thanks Gplaya
Will check it out.
HYPROMAG TO PARTICIPATE IN INNOVATIVE PROJECT - RNS Header from 12th September. Wind turbine project details included
Hi GLR1990
You mentioned earlier selected for a new wind turbine project, I must have missed this. What is it please
Personally not bothered about the mda. Mining is not an easy business and is capital intensive.
I would be more interested if they spin it out and just focus on recycling where we have less geopolitical risk and high chance of subsidies.
Last thing i want is a 20m gbp raise to support a low ROI investment in mining.
Thanks GLR1990
A very good positive overview. I think 24 will be a great year for Mkango, lots of milestones along the way. There’s still 3 days left of 2023 so you never know, It’s not over till the @@@ lady sings. As said in an earlier comment, we may not get to know anything until first few days of trading in 24.
GLA
No MDA a bit of a damp squib after all the noise