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Exactly Floyd, I've said before that I think it is one of Hypromag's big advantages i.e. the pipeline of talented graduates / post graduates from these two unis, not just the IP the the uni's develop with us.

MM's will currently take 350k well above bid, which is telling.

Very clearly one person selling imo. All the big trades are for £20k, £30k or £50k. Biffa mentioned that Stewart Newton had disappeared from the company website list of major shareholders recently. Could be the last of his holding or someone else downsizing / exiting.

Yes there will have been a big sell at 9.46am, it moved Berenberg off the bid at 44p and onto the ask at 45p.

We seem to have one large seller offloading big chunks on a regular basis. Provides the rest of us with a good opportunity. Jimzi's post on X very telling. I would hazard a guess that this may be the last time we'll get a chance in the low 40's.

I have taken advantage.

Biffa, from memory those original and potential future payments were to the directors / owners of Hypromag e.g. Alan Walton, rather than the institution of the UoB, but I could be wrong.

As with yesterday, we've had another large buy post close at way above the ask. Starting to look a bit dodgy from the MM's.

This is the relevant footnote in the latest presentation flundra:

"20-25t pa initial target is due to 20% capacity utilization restriction whilst the equipment and infrastructure is owned by the University of Birmingham"

Without any previous mention of this restriction or further clarification from the company, I think the most sensible assumption is that we need to buyout UoB to get to 100-350tpa name plate. It's been extremely poorly communicated and I was fuming to find out about this for the first time in a presentation footnote, but it is what it is and we should now have the money to sort them out. I assume there will be a valuation methodology or formula mentioned somewhere in the licensing agreement or some other private document between Hypromag and the UoB. As it is equipment, I would think book or replacement value would be used. I don't get the sense that the UoB would be trying to make a profit from the transfer of assets. They will make their money through the licence fee.

Cotec getting another pasting so far today. I have topped up there too.

Agree with that S&S. The feasibility study that is being funded through DRIVE is a good start, as is the other DRIVE grant to explore electric motor recycling. However, first I want to see UoB bought out and our Tyseley production ramped up to 100-350tpa (name plate capacity on 1-3 shifts). Being stuck at / contractually limited to 25tpa isn't good enough from my perspective and we clearly need to rectify this ASAP, and have money from the placing proceeds to do so.

Wow, that's a lot of people! My invite must have got lost in the post again, haha

I'll be pretty p*ssed off if the MKAR listing has not occurred by end of June. If there is to be a vote at the AGSM on June 6th than I would think we'd have to get SEC sign off in the next week or two. Now what an RNS that would be.

USAR is currently trading nearly 50% below their ATH, which it achieved in October, around the same time that we reached 72p, and that's after a massive run up in the last few weeks. MP Materials is down 35%+ from its October high, again after a big run up over the past month. We're about 35% down from our ATH (I don't count the one trade spike to 82p btw). So I feel like the article does miss some important context by predominantly focussing on developments in the recycling business.

I see Share Talk are clearly using AI for their write ups. While very long, it's a decent piece. I think the first bit around the reasons for the SP stalling are wide of the mark though. We got to the 70's last Autumn predominantly on the basis that we were supposed to get a Nasdaq SPAC listing by the end of the year with Mkango's share valued of at least $400m (84p equivalent), and because the RE market was going crazy off the back of the US / China trade war.

So while the SP would clearly be higher if more progress had been made with regard to execution of the recycling roll out, it is not the primary reason for the lack of SP momentum imo i.e. imo we'd be over £1 now if the MKAR SPAC listing had been executed by now. I do agree with the overall theme though that the market is now looking for execution on milestones, instead of giving Mkango the benefit of the doubt, which is probably fair enough given the number of milestones we have missed.

The expectation of the MKAR listing was the first big value creation / crystallisation event that drove the SP higher last year, the build out of the recycling was always going to more incremental in its SP value creation, with European plant commissions providing small boosts and US FID providing a bigger boost. The Hypromag USA Nasdaq listing is likely to provide the biggest value creation event for the SP imo.

AIM will not value us properly on potential, so the Nasdaq listings are crucial. Without them I think we would need to be showing substantial profit and FCF from operations in order to get the kind of value on AIM that we all think this company deserves, which I don't see coming until a year or two down the track based on the latest timelines the company has shared.

The June 6th Annual General and Special Meeting for Mkango must be to do with the MKAR SPAC as our AGM is normally held at the end of October / start of November. It's also referred to as an Annual General and Special Meeting, not just an AGM.

Yeh seemed like we hit some profit taking but think the drop also looked a bit overdone based on the trades that have been reported so far. Two 100k buys post close at 2.41p and 2.95p over the 48p closing ask price smells a little whiffy i.e. two big buys let in without impacting the SP. Anyway, the 50p resistance will be broken sometime soon based on all the news we are due imo, so not overly worried.

Pushed into the 50’s fairly strongly there. Let’s hope it holds, and becomes support. Great start to the week so far.

Nice Floyd!

An example of a battery recycling company doing a PIPE financing pre Nasdaq listing. Plenty of appetite out there in the States it seems:

https://www.linkedin.com/posts/danielmamadou_criticalminerals-spac-energytransition-share-7453412024937783296-7tn1?utm_source=share&utm_medium=member_ios&rcm=ACoAACbW318B5SROCrBo8_YGOn-KXbgaEGlJ0ow

Haven't seen a closing auction that busy for a long time, loads going on. UT at 49.4p. Can't be displeased with the week we've just had, up 9p or just over 22%. More of the same next week please! Off for a beer and a bbq in the sun. Have a nice weekend all.