Member Info for cyberbub

Yes, as long as we don't sell below 51%, I'd be happy to see us slowly sell Spac shares *if* we need to. I would think we would own at least 70% of the Spac, so that could give us 20%-odd to sell down, which could be worth $20m if the Spac lists at $100m and retains that valuation.

It's a double edged sword though surely, if Trump moronically puts tariffs on imports of critical rare metals even from friendly countries when US industries need them, then it will clearly benefit our US recycling business, but might be a downer on the Songwe listed entity? I suppose a European miner might take it on instead, or our management could threaten to sell it to the Chinese and see what happens...

I'm just going by what the management explicitly said in the video. Possibly the definitive agreement includes confirmation from Nasdaq that they will accept the listing in principle, subject to completion of the paperwork?

..Zak Mir asked about whether the listing would allow Mkango to cash-out $5-10m immediately. They implied that they wouldn't do this, ie immediately. But they didn't say they wouldn't gradually sell down their share over time.

I think you misunderstood the comment in the video. It was my question that

If the confirmed valuation is $100m then logically the SP should hit 20p in the short term IMO

...I can't see us making much of a break northwards, given the placing price... But it was interesting to see Lemon(?) saying that they will announce the listing valuation at the same time as the definitive RTO agreement... You can be sure that the insider-trading City spivs will start the next run-up a few days before, just like they did for the Letter Of Intent RNS... Personally I think maximum 6 weeks...

GLA NAI

O/T, Rider75, how did you discover OKLO out of interest, to put it on your watchlist?

PS I was pleased to see that the Nasdaq listing fee for SPACs is only $85k p.a., I expected it to be much more.

Yes I imagine it's all a complex legal situation, but there must be a reason that Cohens have chosen CPTK. They seem like a dealmaker with a good record and they don't hang about. I'm hoping for the definitive agreement to be signed in February, and listing in May or June at latest.

*opening* bell I meant!

Yes it could be a worked trade only declared now. It seems unlikely that such a large trade could be placed and fulfilled just a few seconds after the closing bell...

Yes I thought it was odd that the bid didn't drop. However the offer has dropped which indicates that the MMs are trying to sell the 2M shares they've taken in.

So just to be clear, a mine and factory outputting the same amount of magnets that we will be outputting from our US plant, is capped at $3bn?

I can still sell 350k shares above bid, and could do so even a few moments after the opening bell. That would suggest that there's good demand... Although to be fair I could sell 300-400k most of the way down from 11p+... Sigh... Hopefully we'll continue to get a good news stream ... I think it's possible that we might get the binding SPAC agreement in just a few weeks' time, given how sharp Cohen seem to be? GLA

Jimzindid you mean to say "can" or "can't"?

I think we just need to let Cohens get on with it. They seem to have a great track record and to not hang around...

Been looking a bit more into Nasdaq listing docs. It does say that SPACs are expected to have a minimum valuation of $100m after their RTO. So I'm not sure why they even mentioned the minimum $50m of the Nasdaq Capital Market tier on the video on Monday.

I'm still a bit unclear about how they can use Crown Proptech as the Nasdaq RTO vehicle though, when it was itself delisted from Nasdaq last August (for failing to make an acquisition) and went to OTCQX where the shares have a published price of $0.00. I assume that Cohen knows what they're doing, and that our CEO wasn't in New York on Monday to discuss the RTO for no reason!

...and ignoring profit contributions from UK and Germany...

...and ignoring any increase in the REE prices...

The placing is disappointing but perhaps their hand was forced when people weren't converting the warrants. At the end of the day the dilution is only 7-8% and should get us to first revenues from Germany hopefully. The UK operation at 100 tons per year could easily bring in $5m if you use the $55k/ton sale price that has been quoted. I suppose at that small scale the production costs might be high, but I would expect at least a small profit from it - do people agree?

Meanwhile we should use a figure of 375m shares because there are still the outstanding warrants plus shares reserved for management in lieu of wages. Let's pessimistically assume that by the time we've got the US operation running in 2 years time, we have 450m shares in issue. If we're making the forecast *minimum* $26m profit, at 40% = $10m to MKA and put it on a p/E of 15, that could lead to an SP of 30p or so... have I missed or misunderstood anything? And that's ignoring expansion, and ignoring any valuation for the Songwe listed entity...

Please let me know if I've got anything wrong?