Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Cheers NY
Missed that, but my main point is that how can a heavily polluting synthetic substitute, be included in a raw materials Act. I suppose when all said and done that’s where improvements in recycling are going. New magnets from old etc.
GLA
Drift?? To where? We're sat 6% above where we've been for a month
Another step along the way, watered down in my opinion to satisfy major EU importers. And how can ‘synthetic’ graphite be a Raw material. All linked to Mkango if you untangle the black mass recyling
I feel like this will now drift until news, especially as I bought some yesterday.
Yeah, it's getting interesting. We'll see what tomorrow brings.
Https://www.miningweekly.com/article/mkango-to-build-25-mw-of-solar-at-songwe-hill-2023-11-13
The company says engagement with financial institutions is under way to accelerate development, and additional strategic partnerships, downstream developments and marketing opportunities are being evaluated.
Up 15%
Hopefully we get an update soon from co on production from hypromag and more mda progress details
I think today's RNS very much fits in with the vision as does every part of Mkango's operations and plans:
'The Commission welcomes the political agreement reached today between the European Parliament and the Council on the Critical Raw Materials Act (CRMA). The Act sets out a series of comprehensive actions to ensure the EU's access to a secure, diversified, affordable and sustainable supply of critical raw materials. This is essential for the competitiveness of Europe, including for green and digital industries as well as defence and aerospace.
The new rules help to increase domestic capacities for critical raw materials along the supply chain, complementing initiatives to diversify their supply through international partnerships supported by the Global Gateway facility. The agreed benchmarks specify that the EU should have the capacity to extract 10%*, process 40%, and recycle 25% of its annual consumption of strategic raw materials by 2030. In terms of recycling, the deal also ensures that we will progressively take into account waste to determine recycling objectives. The compromise also includes the objective to mitigate demand through resource efficiency and technological progress. The EU should also diversify its imports of strategic raw materials, so that it does not rely on a single source of supply for more than 65% of its consumption.
To strengthen the EU domestic capacities, the Commission with Member States will identify Strategic Projects along the value chain that will benefit from more streamlined, faster and more efficient permitting procedures as well as facilitated access to finance. The agreement also extends the scope of Strategic Projects to those allowing the production of materials that substitute strategic raw materials. Moreover, the Act ensures that efforts to build secure and sustainable critical raw material value chains, through Strategic Projects in the EU or in third countries, are made in compliance with high environmental, social and governance standards.
The agreement includes that the list of critical and strategic raw materials will now become part of EU law, and adds aluminium and synthetic graphite to the list. These raw materials have been identified given their strategic importance for green, digital, defence and space sectors and their forecasted increase in demand that will exceed the foreseeable supply. The Act also introduces an effective monitoring of critical raw materials supply chains, and an obligation for large companies to perform risk assessments of their supply chains. It also foresees the coordination of strategic raw materials stocks among Member States.
Next Steps
The political agreement reached by the European Parliament and the Council is now subject to their formal approval.'
'Realistic benchmarks
The provisional agreement keeps the benchmarks of 10% for extraction of raw materials and 40% for processing but increases the benchmark for recycling to at least 25% of EU’s annual consumption of raw materials. In addition, there should be substantial increase on the recovery of raw materials present in waste.'
https://www.consilium.europa.eu/en/press/press-releases/2023/11/13/council-and-parliament-strike-provisional-deal-to-reinforce-the-supply-of-critical-raw-materials/
Great timing for HyproMag/SUSMAGPRO who present this week in Brussels for the EU Raw Materials week in the only event to also have official US and Japanese backing
Just a point of reference, but helpful to see Cotec's Q3 report (released today) shows a revaluation of Cotec's 20.6% stake in Maginito to 9.5m CAD which puts an effective valuation on Maginito of £27m and MKA's 79.6% stake at £21.6m or 8.9p a share.
A point to note is Cotec doesn't attempt to put a value on the US Joint Venture i.e. it effectively excludes this value. Which perhaps helps to explain why the Cotec market cap is 38m CAD vs it's reported NAV in these latest accounts of 30m CAD (of which Maginito is 9.5m).
Don’t know about the Chinese, it’s all double Dutch to me :)
Yeah ... it's the Chinese influenced holder ;)
Would love to know why someone is selling big chunks at these low prices when there is so much positive news being released. As soon as the price starts to rise we are hit with 100k+ sells!!!!
I keep a closer eye on Lotus and Globe for comparables. Both SPs are depressed but this doesn't worry me unduly....
GBE got their MDA in March and equity raised in the summer for "technical feasibility work, metallurgical testwork, pilot plant work, and mine and refinery preparation and planning costs for Kanyika, along with director loan repayments, corporate, operation, and marketing costs".
So MKA is imo so much more exciting because of the broad mine-refine-re-recycle offering, and.......whilst they'll need money they are much further down the track than GBE in particular in respect of the all important funding to build the mine.
As current posters will probably recognise I have been a very long term holder of this stock (well over 800,000 shares) and like many others have waited with growing impatience for the MDA, with its expectations that once agreed, the share price would re-rate. I desperately hope that to be the case, BUT, in researching the actual share prices of the top ten existing rare earth mining companies outside of China over the past year (including MP Minerals, Lynas, etc) I see nothing but significant declines of up to 55% despite the growing clamour for the West to support governmentally any company who could reduce China's dominance. Accepting that Mango has more strings to its bow than the straightforward mining companies, this does make me a little cautious as to what will really happen to the share price once MDA concludes. Actual commencement of mining will probably take another couple of years so the Pulawy refining plant won't have any feedstock for a while.
Many others, including myself have commented that this share price could rocket towards £ 1 a share within a year and whilst I desperately would love to see this (it could pay off my mortgage) I am coming around to the hope and expectation that if we can get back to a mid 20's price within the next year, Id be happy (but would NOT sell).
OK. Before I bought my first tranche here, just short of 13p, I read all the RNS material going back a couple of years.
Then I watched a few of the interviews/presentations etc.
Naturally, since becoming a holder, I have continued to read all further RNS's and other material related to the company.
I have made additional purchases at lower prices since then.
The concerns that I first voiced a number of months ago were valid. But hopefully within the next few weeks will be put to bed. It is not a done deal until it is a done deal. Take nothing for granted.
Only a fool would not regularly examine and revisit the potential bear case for any investment that they made.
If you feel triggered by reading comments that are not exclusively positive, then that is your problem.
And this has now turned into a derail which benefits nobody, so I will leave you to have the last word if you so wish, old chap.
Oh dear. No need to be snippy. I am comfortable enough in my knowledge base when it comes to this name, thank you, but equally have no need to seek approval or validation as to my investing credentials from fellow chat board posters.
Anyway, GLA. Even you.
I first bought in at 18p, then added more each time I thought we’d hit the bottom. Hindsight is a wonderful thing. My average is a little over 12p
With the MDA due by end of December expect to climb towards that price.
I’m averaged out at 19p so need that to break even 🫣
With all the good news to come I can’t believe that you can still buy these for under 9p. I think many people will be kicking themselves for not buying at this price.
Morning - that's a lorra volume for nothing news - must be getting close now.
Just for you, going forward, I will use that noun :)
Let’s flipping well hope so. I’ve been underwater here longer than Jacques Cousteau.