Member Info for esduk

Make that 61p bid / 62p ask.

Good start to the morning at 59p bid / 61p ask. There is no doubt that the China moves overnight Thursday were an escalation despite what anyone in the market is trying to say so that they can protect their crypto / S&P positions.

Jdbanzi, I’m afraid your numbers as presented are quite a way out. Firstly, Tyseley and German plants have a 330tpa nameplate capacity, roughly a third of the size of the US plants. Their NPV’s will also be completely different as we have already spent the capex. Add to that that we as Mkango effectively own 80% of Tyseley and 72% of German plant vs c. 40% of the US plants.

I’ve done NPV calcs for Tyseley and German plants previously, which I don’t have to hand as am on the phone. But it was in the region of $172m NPV for Tyseley and $156m for Germany based on current 330tpa planned throughput. One US plant is worth about $260m NPV to Mkango ($650m current NPV quoted by Julian x our share of ~40%).

Adding those three together plus MKAR at $400m we get to roughly $988m, so just under a billion. Of course you can then add the other two announced US projects at up to $260m NPV a pop, possible expansion of Tyseley and German plant, South Korean, Canadian and Japanese plants to reach the billions. The strong argument is also that our share of the MKAR valuation will be much higher than $400m on listing and that the NPV for Hypromag US plants will be greatly enhanced by low cost EXIM financing, grants, tax breaks and higher prices/a price floor.

Can you imagine if they had news prepped for Monday morning?

It’s down to Trump’s TS post about massive increase on Chinese tariffs and no need to meet Xi now!

MP and USAR both going mental.

60p on the ask, just lovely. Lots of big round 50k delayed reported buys. Feels like the SP wants to run free, and almost everyone wants to stay along for the ride. Short term destination? Poundland?

We’re up to 58p bid / 59p ask. Let’s be having you this afternoon 60p. Wild that we are nearly 15x our low last year. But then again massively undervalued right now, as everyone agrees. We always knew the final quarter of 2025 would be good to the SP. In fact we’re nearly touching 60p and all the big news is yet to come. Brilliant share, brilliant Board, brilliant BB.

Well well well, the testing 60p this week call isn’t so far off after all. We are well and truly part of the melt up.

Strong start, which is not surprising given the news out of China. Perfect storm time.

USAR currently up 17%. An announcement of a Hypromag Nasdaq listing intention would put rocket boosters under the SP.

Yes I don’t think JT could have been any more clear that there will definitely be at least three hubs. He talks about a massive re-rate if the discussions with the US government are successful. He sounded very confident to me that they would be.

Those 55p algo trades coincided with one of the MM’s moving from 54p to 55p on the ask. It’s now two on the bid at 52p and five on the ask at 55p.

No idea, but have never heard mention of one from anyone on this BB. I’m not on Telegram, and happy enough on the LSE chat board.

Thanks for posting the link snkj. Had never heard Julian talk in so much detail about his background. No wonder he’s so rich, he has basically built/re-built three multi billion dollar companies. I have previously invested in Ecora but didn’t know about his connection there. Fills me with even more confidence. He’s a proven serial winner.

Lots of big delayed buys rolling through, looks like either some big British buyers have woken up, or the yanks started their buying earlier today.

Earlier post should have said add to that $400m for our share of MKAR and we get $1.329bn...

Yep, L2 is fun right now. After our pause at 50p, we're now moving with the rest of the RE market / catching up. 60p by cop Friday definitely doable.

Thanks a lot Rider, I've always seen Mkango as a lifechanging investment for me and I'm very lucky to have been put on to it just after it listed on AIM in 2016. Other than luck, the rest has been a combination of belief in management, belief in the RE story, stubbornness and a high appetite for risk, which elsewhere in life can sometimes get me into trouble.

If we apply a 0.7 factor to our first US plant in Forth Worth to account for execution risk, 0.5 for the second and third plants, and 0.2 for the Japanese, Canadian and Korean plants we get a total of $598m.

We know the NPV's are likely to be a lot higher with low cost EXIM financing, tax breaks, potential US government funding and higher RE prices than assumed in the feasibility study, so that $598m is very conservative in my opinion.

Add to that $330m for our share of UK and German plants and we are at $929m.

Add to that we are at $1.329bn = £992m.

Divide by 335.99m outstanding shares and we're at £2.95.

As I said, £3 once we prove Tyseley and German magnet sales.