Member Info for esduk

Thanks snkj, looks like I got about 75% of mine filled, so not too much capital tied up on the bit that wasn’t filled fortunately.

Is anyone who has had their retail order filled on HL? My ones all say pending. Bit annoying as funds locked up and I don’t know how many I’ve got.

Code, I’m on my phone so can’t see which MM it is that has 100k on the bid and ask rather than the 30k NMS. Can you see which one it is?

Sale in the high 33’s seems to be over. Now look to be letting her run, 34p on the bid.

Not at all Bonker, I think it is long term positive as I’ve mentioned many times here (both from defence spend and energy transition for energy security purposes). But the rare earth shares have done poorly in the first month of this conflict and given we are listing on the Nasdaq, which has also done poorly during the war, it makes sense to me that it would be better to do the listing in a more positive environment after the war is finished and where risk assets are attracting more interest.

SIT, I don’t think this placing really relates to the Nasdaq listing, other than maybe some minor working capital spend. Looks like we are close to nailed on for Nasdaq listing in second week of June given the shareholder vote date has been set for 5th June. I am reasonably confident that it will go ahead this quarter and hopefully the war is over by then.

People aren’t naive or surprised about there being a placing. They are disappointed by the timing and nature of it. It’s at an effective 40% discount and was front run be sellers in the know. They picked the worse possible time to do it i.e. by far their biggest ever placing done in the middle of a war just as they have failed to meet all of their milestones for the quarter. We also aren’t getting the bounce we should today on hopes of the war soon being over soon (I think they are just hopes personally). Btw, to be invested here for 12 years you would have needed to have bought on TSX-V as we’ve only been on AIM for 10 years.

Did the same yesterday JMUK, with the same complaints, but before I understood about this 25tpa restriction, so I’m glad you captured that. I find it funny that they did the official opening of the plant (7 months after it became operational), but were still 75-92% under name plate capacity depending on whether you use the 100tpa single shift or 330tpa three shift number.

Bought some in the high 33’s. Still not sure my retail offer bid has been processed so hedging my bets. Not really sure what to make of the price action this morning. Feels like the MM’s have some shares from the placing and are selling them to retail. Can’t see how they have got the shares to sell in the high 33’s otherwise? Makes no sense for anyone to sell at this level unless it is out of disgust / they are throwing in the towel.

Just catching up on overnight posts. Agree with comments from Gallmat and flundra. Flundra, I think the licence fee may be in the Hypromag FS numbers, I can’t check right now but I seem to recall it was something like 1.5% of revenue?

Welcome back Major Tom, great to have you on board again! Was sad to see you go, well done on waiting for a great re entry price.

Has anyone had their retail offer purchase confirmed? Mine is still down as pending on HL. I thought it was all supposed to have been wrapped up last night. Annoying that the money is tied up but don’t know if I’ll be allocated the shares.

I’m with JMUK folks, I haven’t read the footnote in question as am on my phone. But assuming the interpretation posited is correct (why wouldn’t it be) I think this is completely misleading from the company. The 25tpa was for ramp up and we were told that we were moving to 100-330tpa in 2026. As far as I’m aware, they have never mentioned anything about being restricted to 25tpa before, or that we would need to buy out Birmingham Uni to move to nameplate capacity (why in the world would you structure it in this way in the first place??). I’m calling this another major fail from a management communication point of view. And sorry for erroneously correcting AI! How ironic, haha

Travelling tomorrow so perhaps I’ll take some time to read into this more. Good luck on open everybody!

I think we are seeing the benefits and drawbacks of AI in the posts over the last few hours. AI can be very helpful with research but it jumps to a lot of conclusions and speaks with confidence even when it clearly doesn’t know what it is talking about.

Example: The money from today’s raise is for a German magnet manufacturer (as stated in the RNS) and there is no artificial restriction on Tyseley output due to the Uni of Birmingham ownership i.e. they wouldn’t stop us running g at 100-330tpa nameplate capacity. I haven’t seen the updated presentation, but I assume any buyout would be because we want to increase Tyseley capacity to 1ktpa, and to do that we would have to raise the money and fund the extension, which would muddy the ownership model, so it may make sense for us to buy the existing plant from Uni of Birmingham.

Hopefully the company provide us with a bit more clarity on all of the above in an official update soon so that we don’t need to rely on often erroneous AI supposition. In the meantime, I would find it useful if people labelled their posts as AI (and potentially whatever model they used) like kowalski did, so I am able to make a better judgement on how much I should rely on them. Obviously that’s just my personal preference and feel free to ignore. But I for one am keen to avoid this board becoming dominated by AI, particularly if it hasn’t been checked and is erroneous.

SG, AI has that wrong. The 5th June vote is our Annual General and Special Meeting to approve the merger/SPAC listing. CrownProptech will no doubt have a vote, perhaps the same day. But the notice that Biffa posted last night is for the Mkango meeting.

Don’t know where it gets that Maginito (which owns Hypromag and half of Hypromag USA) could be trading on the Nasdaq by end of Q2??? It is nothing to do with MKAR/Lancaster assets or CrownProptech SPAC and we know that the second listing (potentially later this year) will be for Hypromag USA, not Maginito.

Been out for a long run. Still p*ssed off, still think shareholders (particularly newer shareholders), have been taken for a ride. Agree with your point completely Jimzi, but I guess at least it beats him being given a load of cut price options or RSU’s, now he has real skin in the game (even if he has effectively stolen them…).

But now I have made my point to management (if they ever read emails) and b*tched plenty on this board since the announcement, and given that I’m sticking around, I’m going to start focussing on the positives.

While we don’t know a lot about this potential purchase, it does feel like it could be a value accretive move in the long run (discounted raise aside!). Great research SG. I assume there was some help from AI re the potential German business acquisition targets, my question for you / it is why do we need magnet manufacturing capability in the short loop process? Is there some part that we are currently missing? I thought Germany was set up to be able to manufacture finished magnets? Or are you thinking about having the magnet making business on the side to be able to produce magnets from the swarf or from separated RE’s? I assume that we would need to use the long loop process and separate the RE’s into their constituent parts if we want to manufacture magnets from scratch. Keen to understand the potential synergies of these businesses with Pforzheim, but may need to wait til we know more about the identity of the target. One would think that the new German business would be an obvious customer for Pulawy, so will be interesting to see how it all plays out.

No warrants is a good thing, though we have to remember that there are plenty left over from previous placing as at 7p and 45p respectively.

I think the management team are going to have to work pretty hard to get most existing shareholders back on board. Luckily for them they have plenty of opportunities to do so over the next few months. Hopefully once this placing is out of the way they can give us some proper comms on the UK, Germany and how this potential acquisition fit into the picture. Must remember to read the new presentation when I’m back in front of the computer.

We’ve been lucky to have a great chat board over the past couple of years, with a great community of shareholders. Despite this rather stinky news, I hope we can maintain the great camaraderie and research that we are blessed with here. Good luck all, time for a beer!

I don't see 28p here personally, tomorrow or any day after, unless one or more of our catalysts falls over (would probably have to be the SPAC and I think that is pretty much nailed on).

I think the SP has been artificially managed downwards due to the placing and all the catalysts haven't changed (we may even have a new one with the German magnet plant), so my base case would be a similar scenario to the last placing. Everyone knows there is a price to value gap here, and it annoys me that a load of institutions are able to enter at this discounted level, which is much lower than the SP any time in the last six months, because they will know that they are getting a great deal and haven't had to buy in the market.

Well said Monte.

For my part I apologise, if my posting has misled anyone. I was focussed on the compelling pipeline (although I was critical of consistent failure to meet milestones) and previously stated that if they needed to do a £3m raise again to keep the lights on, that would be easily handled by the market.

I didn't reckon that they were looking to buy a German magnet business, which came out of left field and has substantially upped the financing requirement, and I didn't suppose they would do a raise at the worst possible time and therefore at a massive discount.

On the plus side Will and Alex do have a good M&A track record (Hypromag bought for a pittance) so I'll trust them on the M&A part for now. But yeh, sorry if my posting has contributed to people buying in at much higher levels than the 33p placing. I, like others, have been topping up all the way down from low 50's to today, and feel mugged.

Completely agree snkj. Luckily I own a lot of Canadian / US stocks and the miners have had a great day today so was able to come up with the funds....

The SPAC is nailed on in my view given the Mkango shareholder vote meeting is set for 5th June, which is another reason I'm angry about a discounted placing!