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It dipped to the 200 day average and also touched lows on the Slow Stochastics and RSI. Good area to bounce. The rump seems to have been bought by two large institutions and I would think they know what they are doing.

Picked up another 5k at 0.5069 because, paraphrasing Esduk, "it's too goood to pass up."

Thanks Codejunkie for the recent, insightful reply.

There's lots on the horizon here and I'm standing pat for the next few months.

Given the drop I was surprised I could only top up through a negotiated trade around 50p. I paid around 0.5139p. It surprised me but maybe I shouldn't have been surprised.

What a great time to have bought. Well done!!!

Oh, sorry, it's next year! Please carry on.

Great board with several outstanding posters. With uranium doing so well this quarter, here's another iron in the fire that MKA has. I wonder if anything will come of it because there is a deadline next month..

The following answer the uranium prospect was given by AI:

"Mkango Resources holds a licence for uranium exploration. The company has a 100% interest in the Thambani exploration licence in Malawi, where uranium is one of the primary exploration targets, alongside niobium, tantalum, and zircon.

This licence was renewed by the Malawi government for five years, extending from 20 October 2021 to 19 October 2026.

The Thambani licence area features multiple zones of high-grade uranium and extensive uranium radiometric anomalies."

That was a great time to buy, Sinterklaase. The third wave is coming!!! News coming out of the World Nuclear Symposium 2025 in London indicates the utilities will buy with more RFPs (Requests for Proposals) by the end of the year. They are also being pressured to do so by the US administration. Of course, with the drop in uranium supply meeting such requests will not be easy unless the price reflects the new environment where the US and the West needs to rebuild their own uranium supply.

I'm surprised that Donmac and Harel got out. They've been here for several years and experienced the reversal after the last rise - which was a pumpers' rise without the current massive volume. Maybe like the anonymous investors with Canaccord Genuity they got worn down and settled for a small part of their original stake? To be fair to Donmac he thought there was a chance of a pullback but it seems that if he wants any part of his stake again he will have to chase WTE. I sold a few for pocket money but still own a small percentage of this company which I have no intention of selling until the ship comes home.

Who knew that the old Argos stake could have instigated this rise. I haven't a clue whether JHI will do a reverse takeover but I do know that WTE has several holdings which could, in the near to mid term put booster on this rocket ship and the Directors are open to the possibility of "consolidation" with one of their partner holdings.

Yes, it should be another interesting day's action. I remember watching William Dawes being interviewed on CRUX Investor years ago and being impressed by the case he made for MKA.. A big thankyou to you and to the numerous, knowledgeable posters on this Board, including our own analyst M.M., for the excellent commentary and information. MKA's prospects are just mindboggling! For me it's a medium to long term strong hold.

Vitol bought the Noble Group.

The secretive, private big commodity trader group bought what was left of the Noble Group Ltd a few months ago.

I put a question to the Chinese AI Qwen on how long the curbs on Chinese Rare Earths may last and this was the final summary of the answer:

"Curbs on rare earth exports from China are expected to continue for at least 5–10 years , and possibly longer, as China retains strategic control over the supply chain. However, global efforts to develop alternative sources and reduce dependency are gaining momentum and could gradually lessen the impact over time."

Amongst goods affected are:

Electric vehicles (EVs)

Wind turbines

Smartphones

Missiles and defense systems

Semiconductors

Consumer electronics

Down but perking up here. News may come over the next couple of months Their assets and potential make the share price seem ridiculous

Read "meant" rather than "mean" in the first line.

Hi gwm 121, My last post was not clear at all as I mean the ratio chart between URNM on which URNP is based and U.UN (the Sprott Physical Uranium vehicle). I has mistakenly put the URNM and it London version as the ratio.

https://www.tradingview.com/chart/GjaRYjhy/?symbol=AMEX%3AURNM%2FTSX%3AU.UN

The ratio did break out in May but has retested the breakout (see the chart) and it has been testing period for all uranium investors. From what I can see from the previous bull market corrections are sharp and this one has been particularly gruesome. My buys were far too early even though I suspected that the end of July could bring the end of the correction. I was still at least a month early.

The shortage of uranium for utitlities going forward has not changed but gotten worse. This bull is still intact. My confidence in this bull market remains. But the drawdowns will be severe as they were during the previous bull run in the early 2000s.

If we are heading into Wave 3 then URNP could do very well and it may expunge all the recent suffering here. Corrections tend not to last more than 2 months and this one, I think, is over.

"Over 13 years ago."

Yes. Their block off The Falklands is the most prospective of all the neighbouring blocks with an ariel study carried out over 12 years estimating between 3 and 10 billion barrels of oil in this block alone.. I will try to find this info from the past.

The ratio between URNM/ URNP and uranium as expressed through the Sprott vehicle fell since November 2021. When this turns through a breakout of the uranium equities, particularly the juniors against Spot Uranium the next leg up will be in play. That time has arrived.

I'm taking my full allocation or as many as they will sell me. The difference in value and the potential for the second half of the year means it would be mad not to.

Near term target - £11.75 and perhaps £22-24 by the end of the year.

The commodities chart (GNX) versus the S&P is very similar to ECORA and the S&P. After an initial failure a month or two back it looks as if ECOR has broken out but is still testing support. Furthermore, there's arguably a triple bottom, too. I think the rise over the next year or so may well surprise to the upside. The commodities sector looks as if it has bottomed and is tentively gaining strength as it is moving up.