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USA Rare Earths seem to be projecting 6 months for their own SPAC listing, so Songwe could be on Nasdaq by mid-year as we were saying.

I wonder whether Mkango need to change their name? The USA is rapidly becoming an officially xenophobic nation, and possibly a change to something American-sounding would help to get any govt grants etc. Certainly the Songwe listed entity needs to be called something patriotic. U-S-A! U-S-A!

Nice post from Myles.

But if the UK and Germany plants are forecast to be significantly profitable by 2026, could they not fund further expansion of those plants from cashflow?

Interesting. Anyone know how Cyclic's tech compares to ours?

LWHL yes I think I can see a C&H....

Personally I believe that the fundamentals have changed significantly in the last few months (and days). The significant value is now clearer. I doubt we will drop back into single figures, barring bad news. But who knows?

FWIW, I can still sell 450k at full bid price.

Transferring from traders to people who can see where this is going in 2025..

Possibly, I think it might take slightly longer but not much

I assume that when the RNS about the RTO appeared yesterday, Crown must have been suspended from trading? That's certainly how it works in Britain anyway.

Agreed, Myles tends to talk his book, as the saying goes. He's always bullish but doesn't always get it right. Still, who does?? His analysis on MKA seems perfectly reasonable to me, I think a target of 30p by June, assuming things go more or less to plan, is very achievable. Everyone has to make up their own mind :-)

As I predicted earlier, there has been a largeish delayed sell, 427k at 11p. They can only sell once :-)

Onwards and upwards in the coming days and weeks hopefully...

I never worry about UTs, they aren't a reliable indicator of future direction in my experience, especially when tiny like that 8k shares UT. Interesting that it was at 16:40 not 16:35, which indicates an extended auction due to the volumes. I suspect there will possibly be further late trades printed tonight or tomorrow?

By June we should have:

Nasdaq listing complete

A wadge of cash in the bank from the listing

UK recycling underway

Germany recycling almost ready to start

US recycling FID

I don't think we will be at 11p by then!!

Currently 'real' spread for modest amounts is 11.30p - 11.55p. I can sell a full 450k shares in one go at the moment.

KP123, the other big factor that hasn't been explicitly mentioned is that the US markets know a lot better how to properly value a share!

Well considering I thought that the SP was worth 15p fair value last week, I think 20p+ over the next few days is very reasonable... You do often get a delayed reaction... Let's see...

Not out of the question in 10 years' time of we've expanded across the world...

17 dollars share price? One day maybe LOL

If we're happy to drop our share of the listed vehicle to a controlling 51%, then I would hope the buyer gives us $35-40m cash for the rest. That would be an outstanding result and means we could push for a major expansion of the German and UK recycling plants (of which we hold 80-90%) over the next 12-18 months. In that scenario 2026 would be a mega year... And Mr Market looks 'forward'...

I had a look at CPTK, it seems to have a market cap of f*** all... I wonder if that will be the case still after US market open?? Lucky shareholders of CPTK!

$50m cap may be the minimum for a Nasdaq listing, but I think we all expect a substantially higher value.

Given that we own 100% of Songwe today, I doubt we would want to own less than 80% after floating, unless Mr Big Miner wants to stump up a bunch of cash for a 30-40-49% stake.

What I see as more likely is that the SPAC holders will end up owning 10% of the listed entity, there will be 10% new shares issued at the IPO price (this will provide cash to maintain the listing without MKA needing to dilute), and we will keep 80%. If Mr Big Miner comes in later in 2025 we have a choice whether to sell him our full 80% or else maintain say a 20% holding for future divis.

That's my understanding/ideas. Discuss :-)

Tufftrader, there is no way Mkango can find the capital required to develop the mine at its current market cap. Plus they plan to focus on the recycling side of the business. So they could either sell the mine project for cash (which I would have probably preferred) or take the asset listing route. Either way, it's realising value quickly from the mine asset, rather than sitting on it for an indefinite time period waiting for something to happen. Having an 80%-ish share of a company on Nasdaq that the market might value at $100m, is the aim. Then Mr Big Miner can see how much they will have to pay for it.