Member Info for esduk

I have gone for a relatively modest sum in the placing, but as is clear from my posting, that is not a reflection of me thinking that management have handled this well. Thanks both, for the advice on how to find it.

Ferdinand, who else would you blame for the SPAC delay. It seems like Mkango didn't know the process well, they must not have understood that they need to submit an updated DFS for Songwe and a new PFS for Pulawy to the SEC, because if they did, then they never would have said they were targeting a listing by the end of 2025. I think it is definitely Mkango's responsibility to know the process fully and how long it would take them to get these studies done, before suggesting to the market that they would list by the end of 2025.

Can't see any option to take part on Hargreaves Lansdown. Anyone else know if they are enabling the Retail Offer?

From memory, the UK ones are similar to what I had seen online when I last did the numbers. The UK and German costs look reasonable at circa 50% higher than US, which is to be expected given economies of scale and lower energy costs in the US. Looks like Germany will be a key part of the non-US business going forward, there is clearly higher demand / sales price and the costs are lower.

Agree Code, the placing should have been mid 40's and I would have had less to complain about. I'm hoping we get a similar reaction to last placing. Anyone looking at the Retail Offer? Thoughts on whether it is best to buy on the open market tomorrow or through the Retail Offer?

Magic, I think if you had have mentioned a placing this is the one time you wouldn't have had people jumping down your throat, as there was clearly something off with the SP action, as mentioned by many people in the last few weeks.

MrsRobinson FYI that info is also in the RNS, just not the bit of the RNS that I posted (I posted before LSE had it up, so when I saw they had put it up I didn't bother posting the rest of the RNS). It's good that they are giving us cost and pricing assumptions for Hypromag but I'm surprised that they are asking for more money for German capex without giving us a bl**dy update on where they are at with commissioning there. All this on the last day of the quarter, by which time German commissioning was supposed to have occurred (having been delayed by 3 months already) - crickets....

For once we are in agreement Magic, and I made this point in my (probably never to be read) email to Will. We haven't been as low as 33p since 18th September 2025, and are clearly only in the 30's now because the placing has been front run. This shows you what a poor job they have done with this raise.

Funny, I wrote Will and email this morning, at least that's who I assume I'm emailing when it says will@mkango.ca (the address it gives you on the website). I have used this email before and got no response so who knows. My email this morning was asking for better comms and clarity over Hypromag milestones. My email just now was a lot less polite.

They definitely need to actually start delivering to win me around again. While the placing is far from disastrous for the company, it is heavily discounted and poorly timed, and having been front run and on the back of a load of missed milestones, feels like another slap in the face to us smaller shareholders (at least it does to me). Anyway, maybe I'll feel better tomorrow as I travel back to Ireland with my daughter for Easter, but for now consider me hacked off.

I will hold, and even top up tomorrow as I believe that the company is massively undervalued. But I think management have let us all down personally, and my level of trust in their ability to deliver on this massive programme has taken a bit of a hit today. A comms blackout on Hypromag, followed by a very discounted placing, with terrible timing of Iran war and missed milestones, is a poor reflection on them and I'm going to email them to say so (not that they will take any notice as I don't think they read the comms).

I can't see mention of warrants, which if not there, is at least a silver lining. Also looks like half the proceeds will be used to buy a German magnet business which is a positive. I see there is also a retail offer, but not sure it's worth it if we don't get any warrants, might as well buy on the open market? But overall I'm p*ssed off that they haven't delivered to their milestones and have therefore had to raise at a much lower price than they should have.

As you say HarChris, we know what happened after the last placing. But I think they could have managed this better.

Mkango Resources Ltd (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce a proposed equity offering to raise gross proceeds of approximately £10 million (equivalent to C$18,375,000) (the "Fundraise"). The Fundraise comprises: (i) a placing to certain institutional and other investors, to be carried out by way of an accelerated bookbuild; (ii) a private placement to certain investors in Canada pursuant to the Listed Issuer Financing Exemption (under Canadian securities laws) and to "qualified institutional buyers" in the US; (iii) a separate retail offer in the UK; and (iv) a direct subscription by certain investors outside of the US and Canada.

Proceeds from the Fundraise are expected to support the Company's growth opportunities (a potential acquisition in Germany); capital expenditure requirements at its UK and German operations; as well as for general corporate purposes.

The Fundraise will be conducted via the issue of new common shares of no par value in the capital of the Company ("Common Shares") and consists of:

· a non-pre-emptive placing (the "Placing") of new Common Shares (the "Placing Shares") at price of 33 pence per Common Share (equivalent to C$0.606375) (the "Placing Price");

· a non-pre-emptive private placement of new Common Shares at the Placing Price (the "LIFE Offering Shares") to Canadian investors pursuant to the Listed Issuer Financing Exemption (under applicable Canadian securities laws) and to "qualified institutional buyers" in the US (the "LIFE Offering");

· a non-pre-emptive retail offer through Retail Book Limited ("RetailBook") for new Common Shares at the Placing Price (the "RetailBook Offer Shares") to be made on terms outlined in a separate announcement (the "Retail Offer"); and

· a direct subscription (the "Subscription") by certain investors outside of Canada for new Common Shares (the "Subscription Shares" and together with the Placing Shares, the LIFE Offering Shares, the RetailBook Offer Shares, the "Offer Shares") pursuant to subscription agreements to be entered into with the Company (the "Subscription Agreements").

The Placing is to be conducted by way of an accelerated bookbuild process (the "Bookbuild") which will commence immediately following this Announcement and will be subject to the terms and conditions set out in Appendix I to this Announcement.

There is an offering document (the "Offering Document") related to the LIFE Offering in Canada that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.mkango.ca. Prospective investors in Canada should read the Offering Document before making an investment decision.

The Subscription Shares will be subscribed for on the terms of the Subscription Agreements, rather than pursuant to the terms and conditions of the Placing or the LIFE Offering. No part of the Fundraise is being underwritten.

Indeed Jimzi. Luckily for me I've had two big hits on my gold and silver miners yesterday and today with both up nearly 20%, so have been able to slice some profits into here. I love it when it works that way, normally all my investments rise and fall together...

Ha, thanks! Though I can't hold a candle to Floyd, and biffa was the one who found the notice, so deserves the credit. I'll try my best to play my part though, I have a lot riding on it! Fingers crossed for us all.

Have done a bit more research this morning. Based on the 5th June Annual General and Special Meeting date, and the requirement under Canadian TSX-V rules of information being mailed to shareholders (or in this case posted online) at least 30 days before the vote, the latest the SEC approval could come would be 5th May, allowing for them to post the prospectus for the vote by 6th May.

The Annual General and Special Meeting can always be adjourned, but I think the fact that this meeting has been organised suggests that Mkango are very confident that the SEC are going to approve the merger by late April / early May. This likely means that the amendments to the original submission were minor and the forms have already been resubmitted to the SEC, with a view that their approval is now pretty much a formality. This ties in with Mkango releasing the updated DFS and PFS for Songwe and Pulawy respectively the other week. The SEC were clearly content with the assumptions that we had used for the $470m valuation and therefore we were allowed to make the documents public.

I think we are likely to get news on SEC approval by the end of April personally, so just four weeks to go. Exciting times, and a fantastic opportunity to top up before a potentially massive rise.

Lor, there were about 2-3 meaningful (over 1k shares) trades at the spike to 83-84p over a minute or two before it came back down to the 60's. This was a spike that no-one actually bought on and wasn't a true all time high by any means. I wrote about this extensively at the time and happy to dig up my notes again. If you were dumb enough to be one of the 2-3 people that bought over 1k shares on the spike then AIM is probably not the right place for you. If you followed this board and this company closely you would understand that this morning was the time to be buying, or in the 4p's in Summer 2024, or under 3p during the peak of the Covid stock market rout.

Not sure FinePrint, gonna do some research on it later, but the letter from biffa’s post last night was dated 27th March, so I assume we aren’t getting an RNS about the meeting date, as presumably it would have come by now.

At this price we are so heavily discounted to the valuation of our share of MKAR ($400m / 84p), that you have got to assume any news released confirming SEC approval / shareholder vote date / SPAC listing date should cause a major rerate.

If June 5th shareholder vote date is correct that means we should be getting confirmation of SEC approval by early May at the latest, to give enough time for CPTK shareholders to be sent the prospectus, which they need 20 days to consider before voting.

Not long to wait, and hopefully the company and Cotec can pull their finger out when it comes to the delayed Hypromag milestones in the meantime. I’m staying patient and adding when I can.

Top up from me, had to sell something else first, but looks like we have a firm date set by which time the SP should be at least 100% higher than it is today. Too good an opportunity to pass up.

Marked down 1.5p on open and quickly dropped a further 0.5p, you gotta love our MM’s.

Fantastic, thanks for posting biffa! Massive news if the purpose of the meeting is for Mkango to approve the listing, which from my 10 mins of research looks very likely to be the case.

It also ties in with my previous thoughts on a late May / early June listing. If it is to be the week commencing 8th June fingers crossed the war is over by then a people are focussed on securing all the necessary rare earths to rebuild weapons stockpiles and accelerate the energy transition (for energy security purposes).

Wonder whether we will get official notice of this in the morning? If so the SP should pop!