Member Info for esduk

There were a couple of good ones in there silver, particularly for the traders!

I don't think so Magic, I just think that whether it's $500m or $780m, people aren't attributing lots of value to it until FID is taken.

Interesting post Osebo, thanks. My own calcs on UK and German plants based on my NPV model, with similar pricing/cost assumptions to US FS had Mkango's share of NPV as $158m and $132m respectively which would add another 63p total per share to your valuations. That was on previous price forecasts, which are higher now as per yesterday's RNS. It also doesn't include the mooted/planned expansion of the UK plant to 1,00tpa or the German plant to 750tpa.

In the weeds, but I wouldn't use the current fully diluted share count for valuation purposes personally. In terms of the fully diluted shares figure, we can reduce the RSU's as the major milestones they relate to have been missed this year. We'd obviously also get the cash for the warrants and options (and while about 16m of the warrants are at 7p, there are 5m at 45p).

Yeh, let's transfer our reliance from China to Russia, good idea! Haha

The market misunderstanding the value of Mkango has given many of us the opportunity to build significant wealth from Mkango, with much more to come. As everyone has pointed out, being a pre-revenue company listed on AIM restricts the market for Mkango shares. Once this is addressed at the subsidiary level through MKAR and Hypromag USA, most of this issue will be resolved. As we start posting material revenues we will have a wider potential investor base. If we move to the main market we will have a wider potential investor base for Mkango shares. So while the AIM market is undervaluing us imo, we have plans in place for addressing this.

The market has missed a lot in recent times willahr. Some are looking for short term value crystallisation events and aren't prepared to wait and let things play out for the next few months. 95% of the posters on the BB are well aware though and locked in.

This is very true SG and FTM, we could do with some beefing up, including in shareholder relations. We don't know what the plans are for the governance structure of MKAR, but I would have assumed Alex will be heavily involved in some form and may not have much time for anything else. Once MKAR and Hypromag USA are separately listed it looks like Mkango will still hold the 80% share in Hypromag ex-USA so maybe this will be where Mkango concentrate their management efforts.

Half a million trade went through post close yesterday at the UT / closing price of 53.4p. Not sure what to make of that? Worked buy or sell throughout the day?

As I said yesterday, I would like to know Will and Alex's plan (outside of the SPAC listings) to bring in large new / institutional investors to Mkango. Not sure we need a move to the main market for this i.e. look at Greatland Resources which has plenty of institutional money and is on AIM, but I'd like to see what they think either way.

Indeed Jimzi, we were range bound for 10 months in 2024 from 4.5p - 7p. We got a few interesting documents during that time. Look how that worked out.

We have had big buyers accumulate at various times throughout this year which has helped the SP re-rate, with the likelihood that there is American money amongst them. There doesn't appear to be one right at this moment. So we are back to lower volume and mainly PI trades coupled with a moderate seller (imo), who appears to be in no rush. PI buying on the recent positive news is being cancelled out by this seller / PI profit taking due to year end, SPAC delay etc. We're still well above strangler's 30's target though and the company continues to release positive news / make progress, so nothing to worry about from my perspective.

Great share teraferma. Hypromag are miles ahead of government on this and should be able to take advantage of this initiative to diversify their feedstock with wind turbine motors. As you say, they have already been trialling this through the ReWind programme and it would be great if we can corner this area of the market as well, to add to our competitive advantage with HDD's through the HPMS and Inserma tech. Given the number of turbines that will be replaced over the next 10-20 years the size of the prize could be massive.

I won't hold my breath too much on the NWF, GBE and BBB involvement as my experience of these organisations is that they are pretty undynamic/slow moving. But if the money is there on very favourable terms I guess we should consider it.

Sorry to hear that, I have certainly fallen victim to that in the past. But that's what led me to Mkango, Will and Alex have demonstrated from the start that this is no AIM lifestyle co e.g. remuneration in shares, and deserve the faith we put in them.

Nice posts this morning. Magic, as we come to the end of the year I think some in the market are impatient, thinking the next SP catalyst is not until Q1 26 and taking some profit/their money off the table. For me that’s just providing a great buying opportunity for the rest of us. All the recent news has been very positive. The SP will reflect this in time.

Crossed posts again, sorry. I've got Port on an IV drip at the minute, can't get enough of the stuff and it doesn't seem to give me a hangover. I did the Christmas roast at the weekend as we will be having an Indian vegetarian Christmas at the in-laws this year... (meat and booze filled Irish Christmas was last year). My four year old daughter refused to get on stage for the first performance of the nativity last week (her role was an angel), and when she did she held her dress over her face the whole time and mumbled her line. Apparently she made a better fist of it on the second performance, which we weren't at, but it's doubtful she'll be making a career out of acting! I'd be happy to share a bottle of your choice on me when that £2.50 is eventually hit, whether it be in 2026 or otherwise. Though I've always hated talk of £1 parties, which thankfully we've always avoided here...

Sorry for off topic everyone!

Monte, we will not be at £2.50 by the end of 2026 unless a helluva lot of new money steps in. That money will first and foremost be American money, invested in MKAR and later Hypromag USA on the Nasdaq (recognising that I see 2027 as more realistic for Hypromag USA). The secondary wave of money comes from AIM retail and institutional investors taking our Nasdaq listing/valuation as validation and buying shares in Mkango itself. If the MKAR Nasdaq listing doesn't happen for whatever reason, the SP is very unlikely to visit such dizzy heights next year, but I'd still wager we would eventually get there in the end just on the recycling business (possibly in 27).

I think another rerate catalyst for potential institutional investors will be when our recycling tech is proven at scale and across multiple jurisdictions. As we start to see audited revenues from UK and Germany and find out about major offtake agreements, our credibility and risk profile will become more attractive. They will have to pay more at that point, but that's the game. Hold onto your golden tickets.

I think Monte is referencing our attractiveness to institutional money which I referred to earlier (rather than his own preferences) and the fact that we are a long way off paying dividends, which is what they like. Anyone, institutional or otherwise, looking for dividends from Mkango is in the wrong place, at least for the next 4-5 years. Any money we earn will be invested back into expanding the business, until we have a RE empire than spans the world. We are all here for the capital growth, Monte included I suspect.

There are plenty of funds/HNWs/family offices that are looking for capital growth like us, but we are currently pretty niche, being until recently a microcap company, sitting on AIM and TSX-V in a small market segment of the wider commodity sector which up until this year has been very much unloved. This is all changing though as our MCAP is pushing £200m, we are planning to list two subsidiaries on a marquee exchange and RE's has become and will remain one of the hottest commodity sub-sectors for the next few years at least. Institutional money will come, it is just not compelled to come right at this moment. It is our duty to take advantage of the price / value disconnect and ride the wave when it does eventually come.

Buys here not seeming to move the price up. So far the only sell that's turned up from around US market open was for 25k at 2.31pm. We've had over 80k in buying volume since then, but the advertised ask hasn't moved and the true ask has actually reduced to 54.5p...

I'll stick my neck out and say no to that Magic, think we'll end higher than where we are now (53.5p mid). The selling in the last few weeks generally seems to keep a lid on any rises without cratering the SP.

It certainly has been consistent over the last few trading sessions just after US open kowalski. Though if you look back at the actual reported sells around this time there is not much evidence of material selling, which suggests it could be more about mind games (for what reason I don't know). Let's see if anything turns up from this time post session close.

Bit of buying action now as well.

They seem to have dropped the arse out of the SP again (2p drop in the bid) with little reported selling. May need to reach into my Christmas pressie fund for a top up at this rate...

From AI: The price for one tonne (1,000 kg) of NdFeB alloy powder generally falls within the range of approximately $40,000 to $75,000 USD as of late 2025. Fever, you may need to change your labelling of the company as non-revenue generating.

Thanks Floyd, I was surprised you hadn't already beaten me to it! Appreciate your awesome research here.