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LWHL....too sensitive. Only way I could describe posters who are one day up on MKA re the MDA etc then next day down. It bores me.
Mining Trade is a Malawian publication mainly for Malawian consumption... It seems Alex Lemon is or at least was this last week in Malawi which I'm sure is not a bad indication of MDA progress although some might not look at it like that lol....
Again, there are no guarantees the MDA will land before year-end it was the Malawian Gov that gave themselves that deadline... Lotus are also this week in Malawi talking to the Gov there but seemingly they are still in the 'negotiation' stage...
of other interest today from LinkedIn
'Carlo Burkhardt of SUSMAGPRO
• 3rd+ • 3rd+
'Indeed, we are at the forefront of magnet recycling technology. We are excited to ramp up production in Pforzheim, Germany in 2024!
Stay tuned for news on HyProMag!'
Flundra: I am not sure either. This is also not the first time that we have seen a rehash of material regarding the MDA and the talks/process, if memory serves me correct. I pay no heed to any of that stuff now. Only interested in an RNS on the subject in question.
Lewis: You are entitled to your opinions, same as everyone else, but to describe some as 'bipolar posters' is distasteful.
I wonder what the point of yesterday's mining trade article was. Perhaps it appeared just because it's 2 weeks to year end and the latest govt assurance of the MDA by then. The article isn't reporting anything new, just rehashing material from Nov.
it is sooooooo important to get the agreement right and binding for both parties no matter how long it takes. as an example look at rainbow and burundi.
i too remain primarily for the magnet part if the business which undervalued this in its own right. the rest is a bonus.
i wouldn't even raise finance for a mi e until the back end of 2024 at the earliest when terms will be more favourable.
i would keep tight finances and commercialise the hypromag element, generate revenue and wait for investors to knock at the door.
the day to day fluctuations on low trader volume are meaningless.
too many traders on here who can eff off fir me. fair play if it's your bag, but ***** chatter bipolar posters are just annoying
merry christmas
It most certainly is not for faint hearts. Even more difficult these days, with some of the western legislative restrictions that other parts of the world do not follow.
This one is actually going to be an interesting test case (to my mind) to see whether or not 'we' are able to get the win here, based on these certain....binds.
As I said before, my interest is only that general shareholders do not get stiffed with whatever deal is presented, should one come.
While I appreciate that some posters are trying to be helpful sharing various comments and quotes from various politicians....talk is cheap. I am at the stage with Songwe where I will believe it when I see it, not before.
As I said previously, I would have dumped my remaining position and moved on by now, were it not for the magnet stuff.
Doing business with African politicians must be stroke inducing. Utterly infuriating.
Frustrating though the delays are, I still get the impression the MDA's close. I also reckon there's a structured funding package moving in tandem with the negotiations which is perhaps 90% complete atm and should follow in short order once the MDA is given.
Ministry of Mining says it is geared towards generating much needed revenue for the country’s economy, as mining is one of the three sectors earmarked for the country’s economic growth and recovery.
In his mid-year budget statement, Minister of Finance and Economic Affairs, Simplex Chithyola Banda announced that the mining sector is expected to generate 1.5 billion United States Dollars in the next three years.
Director and Commissioner of Mines and Minerals in the Ministry of Mining, Samuel Sakhuta says the ministry has come up with the Mining Authority to facilitate mining processes faster and more effectively.
“We have come up with a mining company which among other things will be involved in joint ventures to speed up exploration activities. We are also engaging companies that are at an advanced stage of exploration and we expect about four companies to start mining next year,” he said.
Sakhuta said Malawi has rich mineral resources, citing gold found across the country, rutile in central and southern regions, uranium in northern region districts of Karonga and Chitipa, and bauxite in Mulanje.
He said current mining legislations permit Malawi to benefit from its mineral resources, where among others, they permit Malawi to take part in negotiations with investors and are conducted in a win-win manner.
“The laws we have include community engagement, where the community is involved in deciding the areas of development in their community. There is also community development agreements so that part of the proceeds from the mining company go towards community development,” he added.
Oh, come on crumbs! The people posting here with 'negative' comments on the MDA are not doing so to try and buy in cheaper. The best workable agreements need to benefit current shareholders, not a deal at any cost.
The pressure should be on Malawi, as they ultimately stand to gain the most. But I only care about me, when it comes to my holding here, and not being stiffed, to be blunt.
Https://www.thechemicalengineer.com/features/life-after-end-of-life
Life should get a lot better here now the CRMA is passed....⛏️🧲🍾📈
Once again some negative posts towards the coming MDA I wonder why lo imagine telling Sovereign to not bother with their Malawi project:)... yeah we can expect delays Lotus is already pushing back the likely timeline for their MDA signing by at least a couple of months as it continues to engage with the Malawian Gov but it is indeed all about getting the best workable agreements ...But the pressure is on Malawi
'President Dr Lazarus Chakwera says the resumption of direct budget support by the World Bank signifies the return of investor confidence in the government of Malawi, 10 years after the group suspended its direct budget support to Malawi.
Dr Chakwera said this today at Kamuzu Palace in Lilongwe, where he presided over the signing of a US $137 million budgetary support agreement between World Bank and Malawi government, with US $80million set for immediate release.
He added that the immediate release of US $80 million will provide the Reserve Bank of Malawi with the needed forex to boost import cover.
The Malawi leader said the continuous engagement between Malawi and the World Bank has now yielded fruits, and Malawi will continue working together with the World Bank as the country has put an extra gear towards economic recovery, through the capitalisation of agriculture, tourism and mining sectors ( ATM strategy).'
The MDA will come and it will be the best Mkango can negotiate for and then Mkango will be the full CRMA REE solution package.... plenty of other possible positive newsflow... I'd be supriised if the US operation of 3 mega recycling plants does not get fully funded by the US Gov or DOD in the new year for instance.
The best outcome would be to get the Songwe MDA in short order on best available terms, and for the funding package to bring it to production to be announced simultaneously or shortly after.
My concern, as time has gone on, is the prospect of a deal being bad for shareholders. I would rather they walk away, than agree to something that only benefits the Malawian politicians.
The other side of the business must not be put at risk just to get a Songwe deal done. A bad deal is worse than no deal.
Immediate sale to a big player who can take over once the licence is granted remains my strong preference. And the most logical, commercial decision, given our size etc. IMO.
But I also have low expectations that we will hear anything before 2024. So not giving it much head space.
The suspense! They're sure cutting it close. Will it come, bet your ass it will! Will it come before YE, who knows!
Let’s hope that they are not going to announce the MDA with any raising of funds at the same time ……
"Right now, the government is in the process of finalising an MDA with Mkango so that the company can raise funds from banks and investors for the project. There are a few things that are remaining but, before the end of this year, the MDA will be signed,” Chang’anamuno said.
Topped up here now the news-flow seems to be coming back and the chart looks absolutely brilliant.
Also sold my KEFI and split it between SRB and MKA. Hoping for a good Christmas!
EU CRMA signed off
https://x.com/paltineanu/status/1734857362308018573?s=20
Some chunky trades knocking about - be nice to beat 13p ...
Well , Mkango have been assured that the agreement will be signed by the end of December. Not many tradeing days left. Will it come through, place your bets….
Https://www.mrw.co.uk/news/rare-earth-magnet-recycling-begins-in-uk-13-12-2023/
Morning.
That's a big un.