Member Info for esduk

Can now sell 500k above bid for the first time in ages

Nice buying this morning, finally starting to move

Nice posts velcro. Envipro, our likely Japanese partner, have established relationships in the country and bring with them all the scrap supply we could ever need. They have visited the German and UK sites already. I wonder whether we will form the JV with them or also include a Japanese investment firm within it. Surely we can’t be far away from it though given the current backdrop and the fact it is almost a year to the day since our collaboration with Envipro was announced.

Perhaps we are waiting to fully prove the concept with the UK and / or German plants operational before pulling the trigger on the next wave of plants / JV’s, as those milestones would probably improve our negotiating position for any JV’s. Remember our collaboration also included partnering on UK scrap supply as well as evaluating opportunities for a new plant in Japan. These guys have a global footprint so could be an ideal partner to scale up the business outside of the US.

Will posting on LinkedIn on a Sunday morning, potentially working the weekend to get things over the line in the next three weeks on multiple fronts:

Big week for near-term 2025 hashtag#RareEarth, NdFeB alloy and magnet producer Mkango Resources Ltd. last week!

- US$750k investment commitment from Crown PropTech Acquisitions sponsor / affiliate to advance SPAC merger & NASDAQ listing of Mkango’s Songwe Hill Rare Earth project in Malawi & Pulawy Rare Earth Separation Project in Poland: https://lnkd.in/eYrwKhcQ

- Songwe designated as a Strategic Project by European Commission under the Critical Raw Materials Act joining Mkango’s Pulawy Separation Project: https://lnkd.in/e2c8_Jzz

- Acting Deputy Chief of Mission Andy Winkelman visits Songwe - the U.S. Embassy in Malawi is supporting Mkango to develop the mining project to benefit the people of Malawi & help to diversify critical mineral supply chains.

- Spearheading international opportunities and collaborations as Enzo Satkuru-Granzella Gavin Harper Sam King Mkango Resources Ltd. University of Birmingham Birmingham Centre for Strategic Elements and Critical Materials joins high level UK delegation to Mongolia and Kazakhstan - watch this space!

Mkango Resources Ltd. is advancing multiple strategic projects across the hashtag#RareEarth supply chain to produce rare earth carbonate, oxides, alloys and magnets with additional projects under review

Rare Earth Magnet Recycling and Manufacturing being developed in UK, Germany and USA:

✅ Near-term NdFeB 2025 production from HyProMag Ltd (Tyseley Energy Park, Birmingham) and HyProMag GmbH (Pforzheim) magnet recycling and manufacturing plants

✅ Positive Feasibility Study for hashtag#HyProMagUSA NdFeB magnet recycling & manufacturing plant in Texas with first production targeted 2027, JV with CoTec Corp.

✅ Other jurisdictions being evaluated for HyProMag technology roll-out including Japan, Canada, South Korea

Contact: magnets@hypromag.com

These downstream developments are complementary to upstream rare earth mining and separation projects:

✅ Songwe Hill Rare Earths Project in Malawi and Pulawy Rare Earths Separation Project in Poland

✅ Songwe Definitive Feasibility Study completed - July 2022

✅ Environmental Social Health Impact Assessment for Songwe approved - January 2023

✅ Mining Development Agreement (MDA) for Songwe signed - July 2024

✅ Songwe recognised as Strategic Project by European Commission in June 2025

✅ Pulawy Pre-feasibility Study completed 2022

✅ Pulawy recognised as Strategic Project by European Commission in March 2025

Personally, given all of the below, including the EU CRMA support and adding the Pulawy project, I've pencilled in $100m as my conservative expected valuation, with a bullish case of $200m. But we know that it can't be lower than $50m, so there is a hard floor. No-one is being misled or pulled in here, there is just lots of intelligent and well informed debate, unlike on most BB's. Anyway, have a nice weekend, this time I really am signing off, for a run, and then a beer!

Haha Peter, come off it. You came on here the other day out of nowhere quoting today's Neodymium prices of "around $48.50/kg to $49.50/kg", when they are at c. $94.90 today, you can't expect anyone to take you seriously, surely?

You have been presented with lots of reasons why Songwe is still likely to be NPV positive (off a $559m NPV base) and haven't managed to dispute any of them convincingly. On the input cost piece, the company did say that reagent prices spiked around the same time as Rare Earth prices at the time of the DFS and were reflected in the DFS numbers, and said there was some natural hedge there. This was said at an investor Q&A.

But as StockGenius points out, there are a large number of strategic reasons why this will still go ahead at currently depressed pricing and certainly be profitable for Mkango. Government grants and subsidised financing, tariffs on China (look at the US tariffs on RE magnets and oxides already due to come in pre-Trump), and companies paying a premium for a non-China supply chain. RE prices will also most likely recover due to massive increases in demand from energy transition, robotics, AI datacentres etc. and a supply squeeze i.e. look at issues in Myanmar,

Also please look at the valuations of NASDAQ listed RE companies, which Myles referenced as potential comparators and the fact that the SPAC valuation must be of at least $50m, per the NASDAQ capital market listing rules.

You are having a laugh, for your own purposes or someone else's I don't know. But you are so far off the mark, and at odds with the EU and US governments too.

Sorry, that should say: compared to the 10% discount rate used to calculate the NPV of $559m in the DFS.

There's a fifth £20k buy today, £100k from the same buyer in a day, that's not chump change.

Oh hello again Peterpan, please refer to previous comments yesterday on the matter. The company are the only ones who can re-run the DFS numbers, everything else is guesstimation. I provided my rationale for still having a decent NPV at current prices, particularly given that a 27% discount was applied to prices in the DFS and the fact that EIB financing would greatly reduce our WACC, compared to the 10% discount used in the DFS. As others have said, input prices were also elevated at the time of the DFS. Have a nice weekend.

Well, it was a good effort at 17p but the MM's really don't seem to want to let this go, for which I have no clear explanation. Onwards and upwards, and let's hope next week brings more good news and a SP reaction that reflects it. Good weekend all.

Nice one Catchingpigeons. The only sells today have been marked correctly as sells. Those four £20k grey trades are buys and we're at 1.1m buys vs 296k sells so far. I reckon the action today is a little more normal from the MM's, though arguably the increase in SP should have been a little higher. We're right on the cusp of the next leg up though, with full ask being paid. Let's see if we can push through in the last few minutes.

Ask pushing higher, a few more decent buys and we may be in for a close at 17p or above, which would bring us close to even for the week. I think this would be the least we deserve after all the positive news.

And another one!

Three big £20k buys so far today, someone is taking a position.

Agree explo. We need access to some proper institutional money and I think the NASDAQ listing will give us that (at least indirectly). It's crazy the institutional investment in Mkango currently accounts for less than 2% of shares. When we do start to see some proper institutional investment we will never look back. Our approaching milestones might just be the thing to do it.

What a few days we have had on the news front. We always new June would be a good month, but just look at how it has started. The real biggies are yet to come though, with only three weeks left in the month!

Thanks for sharing the link to Mkango's post explo.

The #MKA team would like to thank Acting Deputy Chief of Mission at the U.S Embassy in Malawi for visiting the Songwe Hill Rare Earths Project and very much look forward to our future collaboration.

I really like the "very much look forward to our future collaboration" part. Mkango's post also tags DFC, U.S. government's development finance institution, amongst others.

The US embassy in Malawi have often been tagged in Mkango tweets on Songwe Hill. I'm trying to think about whether we have ever had anything more formal than that mentioned in an RNS. But regardless, continued support which has so openly been provided, post new administration, is fantastic for Songwe and for the SPAC listing.

The NASDAQ SPAC admission marketing material can state that Songwe Hill has been given EU CRMA Strategic Project status and is supported by the US government, as evidenced by support by the US embassy (and potentially other conversations Alex has been having with the DoD in the US). Backed on both sides of the Atlantic, surely this will be lapped up be potential new investors on the NASDAQ.

Thanks Paul, we have heard about embassy support in the past, but this is fantastic to see and surely shows the new administration is following closely and very supportive!

Looks like the SP is on the rise again, on the same day that I took delivery of my first physical gold. Could turn into a great day.

Interestingly, can sell 300k here above bid for the first time in a while, a good sign.