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Quite so :)
Everything about Mkango is slow :)))
Did not spot that. Thanks for bringing it to my attention. He was slow to update the company!
LWHL the clue is in the RNS:
'5. Date on which the threshold was crossed or reached: 13/02/2023'
Day of the placing ...
How do you know he sold?? Correct me if I'm wrong but it looks like the placing has just diluted him down to a smaller percentage holding of the company.
I wonder if Mr Newton plans to sell more, or is done for now? Presumably, he has been selling at a loss, given the last RNS he was mentioned in showed an increased position, at a SP that was a good deal higher than now.
The next BOD update cannot come soon enough. It needs to be good, so we can regain market faith, and in the process, hopefully attract some new investors, as well as help to flush out any stale bulls without tanking the SP further.
Here's hoping :-)
Yes thats the one - cant get too excited though now 6 months later - as looks like a solitary journalist in India has over egged it a tad! - but as you say strange turn of phrase.
Https://capsindia.org/the-future-of-us-investment-in-africas-critical-minerals-securing-its-supply-chain/
Profit or Roll - do you mean this article? first time i have seen that. strange turn of phrase!
100% GLR.
HyProMag UK production is already pushed back to Q4 2023 as per recent Management Discussion Analysis, however, Will has also contradicted this by stating they are targeting commissioning in 2023 as per his "Near Term production" presentation slides with CoTec. I queried this on 22-Mar-2023 without acknowledgement or response.
Still totally intrigued by this definitive quote from Jan 23 - CHOSEN! or was it mis-reported?
"THE US HAS CHOSEN MKANGO RESOURCES, based in Malawi, as a way to diversify its source of rare earth minerals. The Songwe Hill mine, owned and run by Mkango, has rare earth grades of up to 2.2 per cent over £ 6.7 million, according to drilling studies finished last year."
PS Buys showing as sells again.
Q+A is much needed, SH need to know why this has been delayed by 12 months and why the delay is beneficial to shareholders (without giving away anything sensitive to negotiations of course) without that information the SP will continue to drop to a level where it is simply only supported by the face acquisition value of HyProMag
What can also support the SP is more precise timelines, they already missed one deadline, they said they would have the projects for the three US plants identified in H1 2023 (Cotec missed this deadline) albeit not too fussed as it was a short deadline and I am confident they are making good progress, plus UK and EU is more important firstly as this proves the product and commercial aspect of the technology, as per above more precise timelines and and update on the progress here would be good (vs just saying H2 2023 since we are in that period now)
Hardly impatience, given the current time-frame (and counting). But I agree with those who may feel it is not before time that the company provides an update.
We can only hope that it is worth the wait. And that the wait is nearly over. GLA.
Only time will tell, everything else is a guess
If there's no news, it might just be management showing their faces to comfort impatient shareholders. We're still here, we're on it, all parties seeking a win win outcome, that sort of thing. Maybe some further commentary on the unresolved areas. FX, foreign bank a/cs etc. I wouldn't expect anything substantive outside an RNS though.
Imo we just wait for now. It's also unfortunate that now's the time the government's rearranging itself in how it deals with mining and MDAs. They might comment on the impact of that.
Surely another RNS before Thursday?? There must be something to present/update about??
Not much in the RNS. It seems no progress with the MDA otherwise I'm sure that would have been announced in there?
Well yeah :) anyways looks like we only need to wait till 7am tomorrow...So heres hoping
Crumbs: "news of significance."
very much agree, news of significance either positive or (hopefully not) negative
Seems the Webinar is more than just a presentation and Q&A as it's being presented as a Corporate Update which to me means news of significance.
Not really in as much as those resources are not part of Mkangos portfolio... Chinas messed up again they are by-products of Zinc mining and can be sourced easily outside of China... China would not be able to source other resources it would need for semi conductors though...
It does of course play into the whole time to look outside of China for reliable resources though which is good... seeing as Rare Earths are so dominated at the moment by China... all gonna change that now though
Sounds interesting..
“ it is invoking the Defense Production Act to boost the domestic mining and processing capacity of two rare earth metals, gallium and germanium, critical for high-tech chip-making for the US defense industry. ”
I wonder if this affects negotiations..
https://www.zerohedge.com/geopolitical/dod-invokes-defense-production-act-boost-metals-mining-after-china-export-controls
All the more reason to get a deal signed off ASAP. And hope the deal is honoured, years into the future.
But, as the saying goes, you can only control what you can control. The price (and often process) of doing business in Africa is usually somewhat different to the price of doing business in north America, for example. Believe it or not.
That is what the BOD are paid to manage and to ultimately get it done.
If it was always easy and routine then why would they need to draw a salary much in excess of minimum wage? Their experience, expertise, local knowledge and high level network - culminating in delivering the goods for us - is why their remuneration is somewhat higher.
Anyway, this has probably been covered enough now. Let's see what happens. GLA.
It is worth remembering Malawi is not only about Songwe, but There also are other rare earth deposits plus there is a Malawian on FB who seems clued up on the resources Mkango sits on and he reckons the Rutile deposit could well be the biggest in Malawi with up to 2 billion tonnes of that resource...
It would be a minimum expectation that they do already have deals/partnerships lined up for if/when this finally gets off the ground. Something that I would expect to have been informally concluded months ago in fact.
Is the government being greedy? No doubt. Is that which they seek 'fair'? Possibly not. Does it matter one jot? Of course not. TIA. Get it done, BOD. IMO, it would already have been concluded if we had accepted this reality. The BOD seem to have pushed back hard and tried their best to negotiate a better deal for the company. That is understandable. Might work in the west. Might have worked in Malawi 20 years ago, although that I do not know. Not an African nation I have any familiarity with.
Ultimately, if they only have partners/potential buyers at their current offer position and the government cannot be moved to compromise, then it is a stalemate.
And if it is this scenario, they need to confirm it at the upcoming meet, along with what they are going to do about it.
Or we can carry on waiting in the hope of a change of heart or a change of government - and one that is friendly to us, as well.
I personally do not fancy that equation one bit.