Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Excellent news imo. And no better way of funding (so important) than by Cotec shareholder loan alongside hopefully US govt funding. Specialist commercial funding/dilution would have been less good. Cotec have real incentive to make this work and proper skin in the game and we can assume fair terms imo. Big news today.
Would that be the same US gov who are dropping millions establishing a proper embassy compound in Malawi?
It's almost like they have vested interest there ...
https://www.blharbert.com/projects/u-s-embassy-compound-lilongwe-malawi/
Yes the JV will need to repay it, unless they have an option to convert into shares to increase their holding.
I expect a significant proportion of the funds to come from US grants though, so may not that significant contribution from the JV
US gov funding expected.... should settle the strangely nervous
Buying over the ask lol - someone's not happy :)
So jv will need to repay it?
Looking a bit desperate innit ...
To buy ..😅 games again
In all the excitement I'd not noticed that the thing that really matters - the price of Neodymium/NdPr - is still going up this week, now north of $88/kg and +16% for the month.
Https://www.tanzaniamininginvestmentforum.com/conference/2023-speakers/
Tanzania now,😏
Great news. promising :)
AIM loan sharks presumably ...
And we’re down! I mean, who do you have to f€{k to get a positive movement in the sp these days.
Gallmat, “shareholder loan” means a loan by a shareholder to the company of which it is a shareholder, so in this case by CoTec to HyProMag US
Great news on the JV. Less worried by the day. Clearly things are progressing very well.
Looking forward to news on Tysley EP being commissioned soon. Couple of months maybe?
Extraordinary SP action.
Within 2 years you'll never get that from a new mine and that's all growth 📈 potential as HyproMag become wind turbine magnet recycling specialists....no doubts Cotecs Birmingham uni collab can play into this they have some impressive robot techs for breaking down dangerous techs to recycle... 🏆 Winner winner...now for today's EU CRMA vote
Great news!
What Mkango/Maginito are hoping to set up will take enormous sums of money, time and expertise.
They can either go it alone, with massive debt, fundraising and dilution, or they can partner up with someone like CoTec. The board have made a very smart decision to do the latter.
CoTec are in this to make money, but they will only make money if we all do.
That is surely a sign that MKA have something special.
Everything is on track and looking good. The currently risk-off market might want a bit more visibility on the revenues before we see a re-rate in the share price, but all MKA can do is put down the best building blocks to ensure future success.
Come on it is not clear. They said funding all using a shareholder loan. So does that imply it is repaid from them or us jointly.
Not a deramper. And reported the nasty response above. Not arguing here i have already emailed company and will post the reply.
If it is not 100pct black and white it needs clarification. If they wrote they will supply 30m gbp of capital to be repaid from their profit share that is clear.
Well, I thought it was a good RNS.
Perhaps the market is simply focused on Songwe right now?
Either way, a fairly relaxed holder, at the time of print. GLA.
I can't see what you're responding to as that account is filtered by me (which takes some doing - must be a right dkhd) but announcing non-dilutive funding for an AIM company doesn't happen very often - that's usually a pipe dream for any shareholder ...
It’s not true that “we” need to pay back the loan. The JV company, HyProMag US, will be liable on the loan. It is not clear to me from the RNS whether the JV company will have an equivalent liability to Maginito reflecting the contribution of the tech. Either way, no liability to Mkango, or indeed Maginito
We need to payback the loan. If they were putting in 30m gbp for 50pct with no liability for us it would be flying
The disconnect between share price and potential grows and grows - quite unbelievable.
Great news - keep it rolling ...