Member Info for cyberbub

A lot of companies have a 'blocklisting' arrangement where they authorise themselves to issue 'X' number of shares for warrants and options, without issuing an RNS every time a holder exercises say 100k or 200k shares. They just update about how many have been issued at the next results. It makes sense, as otherwise dozens of RNSes would clog the news feed (as well as costing money). I'm not sure whether Mkango have a block listing arrangement, does anyone know?

I can sell 300k in one go, FWTW... No guarantee but there's certainly some demand at this precise point in time...

Good progress news today - and all funded by CoTec!

Good progress news today - and all funded by CoTec!

I would see a listing deal being: Cohen being issued 3% of the new company as their fee (as Mkango don't have much cash), Mkango sell 10% to raise money for Hypro, and perhaps $5m extra being raised to keep the company running for a couple of years and do some further work on the earlier-stage Malawi prospects? Mkango

Agreed. When I said that Songwe was perfectly credible to be mined, I didn't necessarily mean by Mkango! Agree that if it's listed then a valuation of $100m could be achieved. However I'm not sure whether a listed holding company with a single good-sized asset but no plan or intention to exploit it would make sense? They will be wanting a big fish miner to come along and buy them out - presumably they think that listing the assets could lead to a higher sale price than if they just tried to sell the assets privately off-market?

Most mines are in difficult places these days. Most of the easily-worked mines were depleted decades ago. There are huge and highly profitable mines in difficult places across the world, from the jungles of Brazil to the highlands of West Papua. If it's profitable after allowing for the risks, then it will probably be developed. Malawi is not Manchester, but it's far from the most difficult place to mine IMO.

Probably a worked sale for 7p warrants. Another £70k for the pot, to extend the cash runway until we can get a listing of Songwe...

Gallmat, because they were forecasting sale prices years ahead and knew it wouldn't be credible to use the 2022 mega-spike price. BFS/DFS always uses a long-term historic average, and if their future forecast is substantially higher they need to explain why, to the banks and investors they're asking to fund the construction. A DFS based on an obvious spike in prices would be laughed at.

Oh yes I see, that's what the 27% discount for the unseparated MREC is... 100% - 27% = 73%! Doh.

So the DFS price for separated NdPr is $22/kg or $22k /ton.

NdPr is listed on www.metal.com at Shanghai as being $56k/ton today.

Does that mean that today the NdPr price is more than twice what was in the DFS? Or have I totally got that wrong?

Thanks for any comments.

(Yes I appreciate that Pulawy is intended to recapture much of that 27% discount)

Thanks bonker, is that in the DFS?

Gallmat if you have a moment would you be able to address my question from last night please? Any information would be gratefully appreciated. Thanks.

Gellmat thanks .

The DFS says "The MREC produced from Songwe is expected to be a high value product (averaging US$32,816 per tonne (real 2022 US dollars)) for the first full five years of production based on pricing estimates from Adamas Intelligence."

I can see that NdPr today in China is $50,000 and forecast to be $70k in a couple of years. Am I getting mixed up with the MREC? If so where can I find a pricing for MREC today? I couldn't find anything via Google.

Thanks.

PS I agree that the recycling is likely to be a company-maker in future!

Sorry about my typos in the previous post, fat thumbs LOL

The project has advances mms substantially from when I held some 3 years or so ago. Can anyone advise what the expectation is for the funding package, in terms of how much Pensana will have to raise in equity? Thanks.

I've bought in in the end.

Today's valuation of Songwe, fully defined, FS'ed and permitted, has to be at least 20% of its NPV, IMO. Today that's officially $559m x 20% = $112m or £90m. Even assuming an extra 100M MKA shares were issued at some point, that's still 22p. And the NPV is based on concentrate prices that are 70% lower than today's, and another 30% lower than forecasts for 2027!!

The lucrative Maginito recycling business, coming on-stream in just 2 years' time, is in absolutely for free!

GLA DYOR

I'm just looking in here after a tip.

The volume looks to have picked up a bit in recent months. BlackRock may still be selling their sub-3% holding but they can't have long to go?

The most recent RNS does show a fairly enormous discount to NAV, assuming that NAV has been calculated accurately. Especially since the company has plenty of cash on hand, and there is seemingly zero need for any raise - in fact the last RBS explicitly states that there will be no raise at these levels. I know that a lot of funds typically trade at a 30-40% discount these days, but almost 75% seems excessive, unless insiders know something that PIs don't, eg. one or two of the bigger investments are likely to go pop in the near future? Is that likely?

I see that BlackRock have been selling down, but only very slowly, they announced a few weeks ago that they'd gone below 3%, are they responsible for the massive fall? Do they still have some left to sell maybe?

Do people think there's a risk that Mellon might get frustrated and take ANIC private?

Is there a risk that Trump might not only scrap all previously approved US govt grants to ANIC's companies, but maybe even legislate to make them economically unviable, on the basis that "Patriots Eat Meat"?

Any views from long termers appreciated.

I've found the recent CoTec interview if people want to watch it, most of it is about Hypromag...

https://6ix.com/event/cotec-provides-market-update-1

To be fair I've just read a Twitter post (flagged 2-3 days ago on this thread) by Myles NcNulty which says that the CoTec chair stated recently that they are in close contact with the US dept of defence in relation to potential grant funding...

Given that Trump's best bud and government-slasher-in-chief Musk has said that he won't be using rare earths for his cars going forward... and that Trump considers EVs (apart from Teslas of course) and wind turbines to be part of a woke/commie conspiracy to destroy America, is there a risk that US government grants for rare earth factories and projects could be scrapped?