Member Info for esduk

Cotec's SP is reacting well to the news.

Well done and well deserved SG. As others have said, people selling to lock in some profit is not unhealthy and is part of any big re-rate. I'm personally not going to try and trade this as we rise, though I'm sure there is decent money to be made if you are confident enough and active enough to do so.

Well, just want to make sure those who are newer to the BB are well informed and therefore not easily mislead by the likes of pied piper Peter. Scrolling back through years of RNS's is not everyone's cup of tea, particularly if you don't know exactly where to look for the info. Regardless, we have our $400m valuation, and Cohen and Co will no doubt have tested the market to make sure they can do the PIPE financing at that level (or above) upon listing. So pied piper Peter's protests aren't that relevant and I'll refrain from responding to them going forward.

How's that spread bet you opened in the 15's going Jimzi?

In the DFS, Nd/Pr/Dy/Tb oxides made up 34% of MREC volume and 95% of basket price. So we can basically ignore the remaining 66% MREC volume and 5% of basket price and just concentrate on the Nd/Pr/Dy/Tb share of volume and basket price.

Of the ND/Pr/Dy/Tb share (34%) of the MREC volume Terbium made up 0.6% and Dysprosium made up 2.2%, Neodymium made up 74.4% and Praseodymium made up 22.8%.

In the DFs, of the share of Nd/Pr/Dy/T basket price (95%) Terbium made up 6.4%, Dysprosium made up 5.6%, Neodymium made up 68.1% and Praseodymium made up 19.1%.

Updating those figures with 4th May pricing you get Terbium making up 13.9% of the share of Nd/Pr/Dy/T basket price, Dysprosium making up 14.6%, Neodymium making up 54.4% and Praseodymium making up 17.2%.

The figures are all there in the RNS, so anyone is welcome to do the sums themselves.

I'm well aware of the contributions of each element and did previous analysis on what % each made up previously and would make up now. My analysis on 5th May showed that Dysprosium and Terbium combined made up about 3% of of our basket volume and 12% of basket price sales in the DFS, but 28% of our basket price on updated pricing as of 4th May (Nd and Pr have gone down, T and Dy have gone up).

Terbium prices on 4th May were 32 times Neodymium prices per kg, Dysprosium prices were 9 times Neodymium prices per kg. So only reporting the relative volumes and not the relative pricing is very misleading Pete, but I guess that was the intention of your post...

I don't mean to be rude SmartPunter, but the Songwe PFS was completed in November 2015, which was 7-8 months prior to Mkango's listing on AIM. Are you saying you were invested on TSX and sold out in November 2015?

So if we apply a 30% premium for Western sourced RE oxides as per the post below, and remove the 27% discount applied to sales prices in the Songwe DFS (for non-separated oxides), we would not be far off the DFS numbers.

Thanks LWHL and well done on your profits. Enjoyed the various debates over the last few years, they provided good balance to the BB.

Agree JMUK, we will not know for sure whether the mine is viable at current market prices until they update the DFS. I've written extensively in the past about the DFS numbers and current market pricing. Current Neodymium and Praseodymium prices are in the region of 50% of DFS values, current Terbium and Dysprosium prices are both a fair bit higher than DFS values. The DFS discounted the sales price by 27% to take into account the fact that we would not be selling separated oxides, as it assumed we didn't have Pulawy. With Pulawy we can remove that 27% discount. As you say, we will almost certainly be able to secure higher prices for our product in the US and European markets due to tariffs and / or a security of supply premium.

The DFS also didn't assume any grant funding, or any subsidised financing, which we are now imo likely to get given our EU Strategic Project status, so the financing numbers are likely to be a lot better than assumed in the DFS, with a positive impact on NPV. I personally think we would still have a strong positive NPV given all of the above, but we will not know for sure until the company update the figures.

Pete, all of your views (expressed under your previous Peterperfect moniker) have been soundly defeated in debate/debunked in the past six weeks. You are a clear deramper, with a rotten agenda, and no-one should be listening to a thing you say. Balanced views always welcomed on this BB, clear derampers, with nefarious agenda's are not.

I’m pretty sure the plan was always to start with production of powder at Tyseley, and then graduate to finished magnets. Not at my desk now to check properly, but will do so later if someone else has not already confirmed the source.

Yes of course, we have a lot to thank Will and Alex for!

Another great day and milestone in Mkango’s history. Well done all shareholders!

Yes I remember [cristalball] well. Would be nice to see a few old timers post here if they are still invested.

I’m not sure he would call me a mate. I worked for him at PwC 16 years ago and my wife recently spoke to him at a work event. Unlike most politicians these days, from what I know of him he has strong morals, so don’t think he’d be forthcoming with inside info if he had any. I don’t think we’ll have too long to wait regardless.

Not saying that we’re not getting an RNS on commercial production start this week but I’m pretty sure the Mayoral visit from my old mate Richard was on 20th June. So I wouldn’t say it means any specific about starting this week. Agree though that they are unlikely to have invited him to an unfinished facility that was having teething issues.

Or the other two of the three amigos for that matter?

Yeh no worries Tuck, not aimed at you personally. Just seen some other BB’s become flooded with long AI generated posts with loads of erroneous info/assumptions and while AI has it’s place and can add value sometimes, I’m hoping we avoid having the same issue on this BB.

Alex likes the following post on LinkedIn. Maybe AI Chris is on to something after all… ; )

Well I like the sound of this!!! Vitol is making move into mining finance.Their new fund, Valor Mining Credit Partners, is all about structured credit for metals refinancing debt, funding acquisitions, and backing mine development across the Americas.

They’ve already done this in oil and gas. Since 2023, their upstream credit arm has committed over $1 billion. Now they’re applying that model to metals, just as traditional banks pull back from the sector.

They’re not alone in the space. Glencore and Trafigura have long tied trading with financing. Mercuria and Gunvor Group are expanding fast. State-backed players like China Minmetals Corporation and IXM also have reach. But few are moving with Vitol’s pace or capital. I like where this is going for our mining and metals industry, jump on board everyone, it's going to be a fun few year.

#MiningFinance #PrivateCredit #Metals #Commodities #Vitol