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.
I preferred it when the shares were suspended.
William Dawes, Chief Executive of Mkango stated: "The welfare of the Company's staff remains the main priority for Mkango. Whilst the current market environment is very challenging, Mkango's strong financial position means the Company is well positioned to weather ongoing market uncertainty for the foreseeable future. The impact of COVID-19 has focused attention on the vulnerability of supply chains globally, already a major concern in the rare earths sector prior to the pandemic, and Mkango looks forward to further engagement with Government and market participants to play a major role in future development of a robust and sustainable rare earth supply chain for global markets."
Mkango continues to be in a strong financial position with a current unaudited consolidated cash position totalling approximately US$7.4 million.
Amphion sold out, as per RNS Fri, 11th Oct 2019
Morning Ezhik, The BOD are quoting DFS to be completed within 2020. They had previously muted that it would be mid 2020. Last time I spoke to Will, I got the impression this was more to give a bit of breathing space than due to any delays. He also stressed that getting the DFS right (Full technical analysis including down-stream processing / CSR etc.) was key and the DFS would not be rushed and compromise this in any way. The value in MKA will be significantly enhanced by a good DFS that Talaxis agree to buy into and arrange funding.
Hi Min,
Thanks for compiling this.
Feel free to add my 19m to the list.
Sit tight and add more at these prices.
That's my strategy anyway.
Hi, yes I attended.
Will presented a slightly updated version of the presentation on the website. Nothing really new here, although I noted cash in bank listed as £11.7m @ 17/6/19 (perhaps this should have been $) and BFS due mid 2020 (I had end of 2020 in my mind previously)
Will was questioned about whether they had been approached by the US government. He was very coy and tried to talk around the subject and said he could not comment if discussions had or had not taken place. The host summed it up by saying ‘no comment is as good as a yes’ and Will’s expression seemed to confirm this. Tied in with this, the option of building a separation processing plant was discussed and will be appraised. This will open up direct supply of NdPr to USA and Europe rather than a purified mix going to Asia for further processing (this would put MKA in a very strong position and stand apart from the competition.)
Lots of positive chat about relations with local and national authorities both those in power and the opposition parties. Alex was very excited by the discussions and meeting they had recently had at EITI conference.
Next news flow was summarised as:
• Updates on BFS progress
• Metallurgical study results
• Updates on Maginito
• Updates on Thambani project (MetalNRG going through listing process to join AIM so this could slow things on that front?)
• Updates on Chimimbe project (team have been on site here recently)
The 60-ton bulk sample is at port in Malawi heading to Australia, so results on this will be a good few weeks away yet.
Overall, as is standard with MKA, the team seem to be quietly cracking on with the necessary and making good progress. In country relations are obviously very good and key to getting these projects to progress. No shortcuts will be taken to risk this.
I don’t expect any fireworks in the short term but very happy as a medium to long term hold.
Hi ironic, are you aware of the deal Mkango have with Talaxis??
Worth looking into to understand MKA a little better!!!
"DETAILED discussions have NOT AS YET taken place with the Company" from the RNS
If you are trying to value this company on turnover - time to move on and look at something else that suits those dynamics.
Feel free to check back in a few months to see what you could have won!!
DYOR!
Very high praise of Paul Griffiths from Malcy.
I'm still confident this will be a wise investment.
Hi. I emailed the 'info@' email on Friday and followed up over the weekend directly to DL.
Had a response in the last couple of hours from someone with the title 'Business Manager'.
Fairly general, just stating they are still in discussions about the Minto acquisition.
I did ask how long the shares could in theory be in suspension, but this was not addressed.
Anyone else had a response?
Please note, that was obviously before the 60% increase in total Measured & Indicated Resources.
try this...
https://www.share-talk.com/aim-for-success-part-3-a-blog-by-aim_chaos/
You need to understand the significance of a business forsaking cashflow for payment in shares.
#MKA getting lots of coverage on Twitter today.
Most interesting of all...
https://twitter.com/MkangoResources/status/1110912700568219650?s=20
Hopefully the RNS to notify of the £7m payment will be accompanied by some meat on the bones, along the lines of Cristalball's calculation.
They also have an issue with electrification of the country:
"Indonesia has a comparatively low overall rate of electrification for a middle-income country. Figures and interpretations diverge, but as much as 20% of the population representing 50 million people does not have access to electricity."
Taken from:
https://energypedia.info/wiki/Indonesia_Energy_Situation
Well I certainly hope it does. I have a big chunk of shares here.
Long term I think £50-60m MCAP is realistic.
Multibag may be a little ambitious, but I certainly expect to be trading in the 13-17p range in the near future.