Member Info for cyberbub

Just been looking into this today. 500k Oz is obviously a lot, and I appreciate it's already at surface, but at 0.71g/T that means about 45 tonnes for each Oz. If it was costing them US$30 per tonne to process, that will be $US1350 before sustaining capex and G&A. Is there any indication at all what their processing cost is per ton?

I suppose they could be planning some beta testing for just 3-4 weeks with a handful of daily active users. The publicly available app seems to be very stable, or else the various PIs who have used it would have been complaining.

Hmm that's not especially encouraging if they're advertising for beta testers 6-8 weeks before launch?

Thanks esduk. I thought so, and the Maginito website says so. But bizzarely the Mkango website just says "licenced"...

Have the company not explicitly RNSed that they're running out of cash shortly? So there will have to be a placing - are buyers today saying that they think it will be at a premium?

Personal nastiness and sniping are completely unnecessary in this thread.

Can anyone reconfirm that the HPMS technology has been "exclusively" licenced by Hypromag? That was my understanding, ie that Birmingham Uni won't be licensing it to anyone else.

What's a passthrough when it's at home?

That's possible, but at the same time if you consider every trade above the price of the 2.5m trade as being a buy, it does more or less match up...

I was expecting a large delayed sell, there had to be with all that buying. The question is, what's the rationale for selling now? Is it someone who's taken part in the placing, still short-selling their placing shares for a 10% profit?

Given the situation if a placing at 8p, it's still very encouraging to see all the buying above 9p...

Exactly. Information = Power. Power = Money.

G-man, how on earth have inside traders lost out? They've shorted it from 12p down to 9p (probably closer to 8p tomorrow), that's a 40-50% profit in a few days! Looks like MAREX were the MM controlling the short-selling, that's something to be aware of in future...

The shorters may well have not taken part in the placing at all, and just shorted based on knowledge obtained through the City spivs (oops I mean brokers) network.

Lots of news in the coming weeks and months...

* Binding contract on the SPAC - after the presentation I now expect this in February, plus say 3 months to finish paperwork, notify Nasdaq etc

* Germany and US progress update, perhaps March?

* First UK sales - I expect this in May

* Nasdaq listing by June at latest IMO. Possible share price announcement beforehand?

* USA FID - June

* Germany first production - H2, perhaps September?

Good update on CoTec also, hiring a design engineer for the plant. Hopefully they will be on time for the FID by June-ish.

They said that a good chunk of the placing funds were to order the last equipment needed for the German plant.

I thought it was good overall, although the presenter made a dog's breakfast of the questions.

1. SPAC pushing very hard it sounds like, CEO in New York today. I think we might get the 'binding' contract within as little as 2-3 weeks. He said that the minimum valuation for Nasdaq was $50m but couldn't say anything more apart from "look at the recent US listings of REE assets". I think we all think that $100m is far more likely as a ballpark.

2. UK to be making first sales "as early as possible in Q2", sounds like no later than mid-late May to me.

3. Germany first sales in H2.

4. The latest placing today will take us to cashflow (Although the execs didn't commit to no more placings at all).

5. Clear options to significantly ramp up the operations in UK and Germany. Sounded like the UK expansion was already being designed?

6. Good summary of the way that feedstock was being sourced, strong interest from car manufacturers to both supply waste and also buy recycled magnets from the company.

Anyone else got comments?

Just seen the news. Explains the sharp drop in the last couple of sessions, insider trading yet again FFS

In principle I don't have a problem, the money will ensure us being able to progress the key projects and keep the lights on. It's not an enormous dilution in the scheme of things.

Frustrating that the City spivs forced a 33% discount from where they started shorting at 12p!!

Disappointing to see such a drop, I thought 10p would be support, but as always Mr Market is right in the short term. The medium and long term position here is still very strong from 9p IMO. Am looking forward to the webinar and have submitted a few questions.

What's MAREX? A market maker?

I'm assuming that when Songwe is listed, potentially raising $10-20m of new money, this money will be used to develop the detailed engineering designs and generally move Songwe towards mining, as well as Pulawy.

I assume that we will also be able to do a secondary placing and 'cash out' say 10% of our holding immediately on listing, to provide the cash we need to push forward Germany, UK and Japan?

Following which as discussed we could slowly sell down our share of the listed entity until we get to say a 20% holding? That would liberate us enough cash that we could complete a Japanese plant and maybe even pay off some of the USA loan from CoTec?

Ah no, I've mis-read the 9th Jan RNS LOL