The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I could never understand as to why they elected for MKA shares at 27p. They have watched their investment erode away. Thoughts anyone
I thought we'd seen the last of those but apparently not.
Impatient buyer at 7p. The bid has ticked up to encourage sales. I managed to add over x2 trades yesterday and today but could not buy the chunk I wanted.
Looking forward to next news flow.
Maybe move on from the mine-refine-re-recycle model, which promised much but hasn't really worked out. Mine and refine are being hampered by high geopolitical risk eg Malawian bureaucracy. No MDA and talk at the forum of adding value to product and refining in country.
Perhaps better to divest Malawi interests and Pulawy now, or spin out Mkango Africa under A Lemon, to pursue wider exploration and work up the rutile and uranium eg. MKA to refocus resource and management time on recycling. Name change and/or merge with Cotec maybe in that scenario.
I wonder what this review will conclude and when we'll hear.
25 March:
William Dawes, Chief Executive of Mkango stated: "Mkango sounded out the market in January of this year with a view to considering a fund raising to pursue all of Mkango's existing business lines. Given the share price decline during this period, the Company has decided to minimise shareholder dilution at the current share price by raising a relatively small amount of money from existing shareholders and myself in order to enable the Company to achieve key milestones for HyProMag. In addition, to ensure enough financial runway to achieve these goals, the Company has implemented a cost cutting exercise which will materially reduce the Company's monthly cash burn.
As part of this process, the Company has decided to launch a review of strategic options for its Songwe Hill Rare Earths Project in Malawi as well as the Pulawy Rare Earths Separation Project in Poland. Mkango believes this strategic review will help maximise returns for its shareholders whilst it seeks to expand its recycling business."
MKA didn't bend over the Malawian barrel. Not enough money in Neodymium at the moment to make it financially viable on their terms, but that will change. Another 6/12 months and the recycling will make this fly.
MDA ? What ever happened to it
Nice read across for HyProMag, Ionic MD discussing supply, demand and government support for their RE recycling project.
Seems to me that HyProMag are ahead of Ionic in terms of commercial production in the UK
https://www.youtube.com/watch?v=2cUZ4jUYDPY
The problem here is trying to get the uk governement to pull their finger out. The uk just lacks vision. Throw out a 10m gbp grant and establish a great technology...or just talk about it.
Usa is so more active in funding projects
Https://www.eenews.net/articles/dems-express-grave-concern-about-funding-for-rare-earths/
Something tells me that the US plan will be a game changer for us all.
The strategic review of Songwe will presumably consider that possibility along with all the other geopolitical risks.
There's no problems with what's in the ground in Malawi. It's getting the stuff out the ground. The problem's above ground eg with the MDA delays.
We recently travelled in Zimbabwe and SA. The comments came often from people we met about how the Chinese had done much to win over the local population (e.g. free housing) and were taking advantage of mineral rights.
I'm starting to wonder if there's a Chinese component in the delays to MDA as the politicos look for "brown envelope" oportunities. Hope I'm wrong
Https://mwnation.com/we-have-talked-enough-about-mining-tourism/
"In mining, the pace at which mining development agreements are being negotiated and developed also leaves a lot to be desired. There is a scramble for investors, but despite being a new player in the sector we seem to be taking forever to move. There is need for aggressiveness backed by the relevant laws."
Yep looks like a buyer is taking out a seller, although why it is across multiple trades I am not sure... you would think they would just do it all as one large transaction. Perhaps the seller was/is trying to crash the price, so the buyer is sitting on the book taking up the stock. I doubt they are working in co-operation but could be wrong.
Another couple of/million turned up.
Who knows but it's extremely interesting - presumably they're stringing out a very large order in pieces so they don't have to declare until they're done - we're way North of 5% of the issue now in these huge trades.
I have never been invested in a stock in which millions of shares trade in single transactions on the open market. This has been going on for quite some time and adds up to ten's of millions of shares. all traded in huge blocks at one set price. this is not typical of a large stakeholder unwinding a large position. it does not make any sense to me. can anyone explain?
That's a helluva rollover or someone is hoovering these up.
If it hasn't been previously mentioned
Hypromag.com is worth a look.
Yes indeed Lewis the potential in Malawi is of course huge and wide ranging, never in doubt. I'm just trying to read between the lines and am wondering where the review will take us. Accept the geopolitics and carry on, or sell and monetize now, for example. That latter scenario would be an orderly exit not a firesale rush no doubt.
For MKA not to attend Malawi's inaugural annual flagship mining sector event despite MKA's projects and profile in Malawi, suggests a difficult relationship to say the least.
I think the review's the right way to go. I don't have a strong view about staying or exiting Malawi. You seem strongly in favour of carrying on. Any other views anyone?
I'm adding too btw.
US government I meant to say
Https://www.malawivoice.com/2024/04/30/chakwera-to-attend-us-africa-business-summit-in-texas-usa/
Hopefully some traction on MDA can result.
Not sure of the rush to move away from Malawi assets Flundra? Did you see the breakdown of the assets ansmd prospects owned covering beyond REE. Lots to be happy about and hold on to.
In the meantime I can see government investment coming soon as per rainbow rare earths. All pieces are in place.
Personally adding monthly and more relaxed about the recycling ride. Confirmation of revenue will kick this above 15p once more.
So has the short loop route plant been commissioned?
MKA should get some PR material out.
Target is/was "commissioning of the pilot scale (chemical route) recycling plant in UK to produce rare earth oxides and carbonates in H1 2024" ie by end of next month, just a few weeks away.
Re Malawi, now that the Mining Forum's been and gone without any sign of MKA, and with still no sign of an MDA, is the writing on the wall? The strategic review might steer MKA away from Malawi now. The market could respond positively. The better more certain opportunity is in recycling. Divesting Malawi assets if we're to exit would help funding too.
Great update
It's on twitter as well you don't need to sign in to see it