The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Nobody knows the truth other than they - what they actually say of course may be a million miles from the reality.
Yeah, if one takes the words of the politician at face value, and the BOD here stick with that demand, then it is a black mark on the BOD and a hit to their credibility too, IMO.
If it was an attempt at bargaining, with a more viable strategy ready, in the likely event that these hard ball efforts would fail - with the ultimate result they do finally deliver by December - then it can be overlooked.
On a seperate note, it does not seem particularly professional (to put it mildly) that the politicians seem to be sharing all of these details of the negotiations so freely in the public domain. Hey ho.
There's hardball and then there's this:
"Mkango proposed the use of other laws not of Malawi and is seeking zero rated corporate income tax for 10 years"
What possible reasonable basis could they be insisting on no corporate tax for 10 years FFS - that's over half the LoM!
Oh well - love to see 7p here if possible chaps!
And yet the article, as kindly shared by crumbs, puts a bit more meat on the bone - and demonstrates that it is clearly not a fait accompli yet.
I stand by my earlier comments.
That's the end of the MDA for me
Scratching it from the investment case
As long as the value and potential of the recycling technology continues to outweighs the current market cap, which it does, then this remains as it always has, a viable and solid investment.
As for the MDA if it is agreed on any form of favourable terms then I will be pleasantly surprised but moving forward I am now completely discounting it, and according to the share price at 8p, the market has already discounted it so no harm done to the current valuation, just a shame for future value creation.
At least we are not adhering to these terms, many a company would have met in the middle or given up too much like Lotus, 5% gate 10-15% interest and 30% tax.
Maybe the Govt would be better just making an offer for the entire project?
The #Malawi Ministry of Mining says it is expected to sign Mining Development Agreements (MDAs) with #UK firm @MkangoResources to start mining #rareearths at Songwe Hill in Phalombe by December this year #MKA https://twitter.com/Share_Talk/status/1719336490717560844
I am sure they could find a company located in the East that are willing to do business in a manner that aligns with the way they do business in Africa. If it comes down to it and there is no other option, of course.
It would not be my preference, but a Songwe deal needs to be done, and something financially tangible needs to be the result. And soon.
Id think no MDA would mean no deal it is clear the MOM intends or expects to sign the MDA by December.. Mkango won't be signing an MDA they can't sell just to keep us happy they have to be able to sell it to partners/financers....these MDAs will also be a blueprint for the likes of Sovereign.... personally I'm just glad to hear it's getting to the end game...will be nibbling away all the way there 😉⛏️
Well, I will judge them on whether or not they get Songwe over the line. Simple as that.
A no deal scenario will not be acceptible, given the time and costs incurred.
The other stuff, while highly encouraging, is not what the money from the last fund raise was for.
Unless we are not going to need to raise funds again, even if Songwe does not happen?
Get a deal on Songwe done, BOD.
Sounds like Mkango have hard bargained to me...
Thanks for posting. no wonder we are at 8. lucky to be holding there. unbelievable. surely after all this time this cannot be the state of negotiations. we absolutely need some kind of statement from management. this is total incompetence.
Good to see Toplocks. Hopefully more PI's will take the leap based solely on Hypromag at this price. Songwe could well be a nice bonus for you if /when it lands. GL
Hi Bonker
Thanks for that, I’m more into recycled materials and recycling, don’t know a great deal about Malawi.
I’m expecting some good news re potential finance from the US re the set up over there. They are throwing money at innovative tech firms and this is in the top drawer.
GLA
Welcome - about time we had some fresh blood here - doesn't look possible for it to go below a £17m mcap/7p so it's just waiting now - I still anticipate a 10x here in time ...
Hello All
Just to let you know I had a flutter today, really like the exposure that Hypromag is getting. I believe that being noticed early by the MSP materials security partnership will bring big dividends in the future probably being bought out and absorbed by a bigger recycling player such as Recyclus. Onwards and upwards GLA
Tick tock.
"BLACKROCK IS WARNING INVESTOR DISDAIN FOR MINING THREATENS THE GREEN TRANSITION AS STARVING THE SECTOR OF CAPITAL WILL CREATE SHORTAGES OF METALS"
https://www.ft.com/content/12b3a717-8d54-4542-8d5e-8124568f6974
Https://x.com/MkangoResources/status/1718887082481914197?s=20
Can you copy and paste the contents per chance?
Thanks Crumbs 👍
Is there a link to the article?
Probably build up to first commercial production...
Yes indeed flundra - the MSP (Minerals Security Partnership - set up to counter the export clamp down by China of its key minerals) has singled out one company in the UK for support - Hypromag (90% owned by MKA)