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BBC News - How a uranium mine became a pawn in the row between Niger and France

https://www.bbc.com/news/articles/czjd70mzge2o

Interesting article although it should include the solution ie the Spanish government just needs to permit Salamanca! It really is that simple and obvious. The Niger situation further demonstrates how self defeating the current Spanish government's ideological stance is. More global warming and funding of despots for now.

Ormonde Mining PLC - natural resources company with assets in Newfoundland and Scotland - Notes investee TRU Precious Metals Corp reports "high grade gold" assays from sampling at Golden Rose asset in Newfoundland. Ormonde owns just over 36% of TRU. "We echo the sentiments of TRU's CEO, Steve Nicol, with the high-grade results returned as part of this programme of rock sampling demonstrating the scale of potential for Golden Rose. This is an extraordinary asset which has been optioned by a major gold company and we believe Ormonde offers heavily undervalued exposure to it. We look forward to updating shareholders in due course on continued progress at Golden Rose," Ormonde Executive Chair Brian Timmons says.

Although Cotec's woken up and had a good few days. Bit of arbitrage maybe.

The late reporting's a joke. Ffs!

All trades reported in real time, buys tagged buy, sells tagged sell. No exceptions. Simple.

Lose a few jobs in the city but level the playing field.

Well worth a read

https://theoakbloke.substack.com/p/mkango-a-songwe-and-a-prayer

Now would be a good time for MKA to update generally on its Malawian projects.

Uranium yes.

And the rutile for example. Mchinji got mothballed (so MKA could focus on Songwe) a few years back with samples sent for testing. Results? Did the licence get renewed?

SVML's sp has had a great year for example. That's the massive neighbouring rutile/graphite project with RIO aboard as the strategic investor.

Should MKA be pushing its other Malawian projects forward now?

Smart move by MKA there, taking advantage of the sp jump (on the excellent but unrelated US feasibility study news) to convert so as to minimise dilution!

Also the strategic review of Songwe and Pulawy started in March must surely be concluding soon?

Stick with the best, Hypromag.

This explains it well and the advantages over other tech.

Competition is good. RE recycling sector is gaining traction. Being the best in a hot sector is the place to be.

https://physicsworld.com/a/how-a-technique-for-recycling-rare-earth-permanent-magnets-could-transform-the-green-economy/

And much narrower spread last day or two...

Imminent. As stated in Friday's Q3 results.

Academic, but 2024 fiscal year is surely Cotec's year which is calendar year 2024. Note just reported "nine months ended September 2024"

The MDA has been completed. It is a signed written public document. In her interviews after completion of the MKA and Lotus MDAs, Monica Changanamuno said they would be published ie disclosed and made viewable publicly "shortly". That could mean anything of course! 2063 if we're lucky perhaps...

I think the important point is MKA got its MDA and it was on the best available terms at the time MKA elected to sign up. MKA say in the webinar they'd be happy to use the MDA as a template for future projects, and are now progressing Songwe to FEED subject to funding. So the MDAs were good enough to progress the project at least. There's probably a bit more devil in the detail too though, despite the fact the webinar fleshed out the MDA RNS quite nicely. That's as much as we know for now I think. We await news.

Generally remember too that the whole Songwe project is in MKA's ongoing strategic review. There's arguments both ways imo - to stay or leave Malawi. See what the strategic review concludes.

The exciting bit atm here is the Hypromag US feasibility study, news due in the next few weeks.

At the very end of the September webinar there's about half a dozen questions on the detail of the MDA. Read out by Will, answered quite well by Alex. They should've put it all in the RNS, which was far too light for such an important event.

Are the Dec warrants going to be extended does anyone know, or will they lapse now?

I recall they were extended once but I haven't seen any other announcement extending them further. Think it might be adios.

If all's gone according to plan, the US feasibility study should basically be ready by now. For maximum market impact, and to stick with the 2024 timetable, they should be updating the market shortly and by mid Dec latest imo, to avoid the quieter Christmas/NY period.

So hopefully news within the next few weeks.

See how it pans out. It may be the next government will give the permits. In that scenario BKY would just have to suck up the costs of the delays and drop the arbitration. Then onwards and upwards.

The arbitration proceeds in the meantime, it could take a decade.

Yes LWHL and maybe the strategic review will conclude the same. A well diversified major is better placed to run with Songwe imo. Deep pockets, able to absorb and manage delays and African bureaucracy without running out of cash and dilution etc. Malawi seems to be a favourite side hustle for Rio Tinto atm, so maybe a sale to them (they're already in SVML)? MKA retaining a royalty, and offtake for Pulawy even, if that part of the original business plan survives.

Https://wcsecure.weblink.com.au/clients/lotusresources/v2/headline.aspx?headlineid=61232524

Lotus raise A$110m at ca 20% discount to fund their U mine restart. Worth noting. Different circumstances for MKA of course.

Yes SP would skyrocket on the merest hint of permitting. Funding and production would be quick. I think I had this going way over £2 even when U price and sector was on the ropes.

I remember the SP hitting 65p ish some years ago. And that was when U prices were a fraction of today's and nuclear was still out of favour post-fukushima. True the project was fully funded then, and bky have said more will now be needed because of the permitting delays. But the project will be much more valuable now u and nuclear's back in fashion. Worth holding this share but not your breath imo; it's a very promising sign sprott have chosen to buy now.

Backhanders from the EU (or brown envelopes from interested parties) to the Spanish government/authorities, do you think?

Policy is firmly anti everything nuclear atm. The key individuals driving it have a long history of this.

Spanish politics has a reputation of being bent, but the current anti nuke ideology looks real and untouchable atm.

May change though 🤞