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This should concentrate the thinking of the private sector strategic investors too. Siemens JLR etc interested no doubt.

Or the "£25m for an accelerator programme ‌to help scale projects". Tyesley?

Sunday Times is telling me there's been 173 US IPOs so far this year (cf 7 in London!). Also bemoaning the lack of domestic capital buying UK company shares.

Add in the depressing AIM effect, and I'm thinking how nice it is that MKAR is on the cusp of its US listing, and that Hyp isn't far behind. MKA must be vulnerable to t/o now if our bucket shop sp doesn't dramatically improve soon, the worry there being mugged at an undervalue.

Also, I agree how good it is to see MKA nicely wedged into Washington (yet another White House pic in that tweet I see!).

If our peer USAR can do 10%, we can do a lot more!

Https://www.hl.co.uk/news/what-to-expect-on-the-first-day-of-trading-after-a-us-ipo?lid=erdc9qwd6aso&campaign_name=Version+%5B1%5D&message_name=Email&theSource=EOP50&Override=1

Quite interesting HL piece, trading US ipo on day 1.

Spacex was in mind whilst reading the MKAR presentation yesterday. Elon certainly hasn't been shy with the valuation or fundraising, for sure!

I reckon MKAR have pitched it about right for a highly successful ipo and made the investment case well in the presentation, which is presumably the prospectus (or most of it or a draft at least). A valuation 50% below npv, ⅔ that of peer USAR, despite MKAR being significantly further advanced, and well-judged pipe financing to boot.

Ps I've applied for a small shareholding in spacex for now, and will see what happens. I get the arguments against, but overriding them all for me is the view that it's not a bad idea to get into the leading company in the space economy on the ground floor (even if the lift goes down to the basement initially).

Https://www.ecofinagency.com/news/1006-56320-critical-minerals-who-are-africas-next-generation-of-producers-part-1-of-2

Great presentation imo. Couple of thoughts.

(26). Interesting they've highlighted the 53% pricing discount to estimated project NPVs.

(28) I liked that they've dedicated a whole peer comparison/benchmark slide re de-spac valuation with USAR, emphasising how much cheaper yet so much further advanced we are.

Hopefully the presentation plays well with potential investors.

Ps agree re board and in particular General James L Jones credentials and gravitas. Sounds very like James Earl Jones! I follow Mamadou on LinkedIn too, he's also great.

Interesting. Could be useful that Siemens are one of the manufacturers of the recyclable neodymium magnet material in these wind turbines, when they come up for recycling.

I can see Siemens writing rights of first refusal of magnets for reycling provisions into the wind turbine contracts, to go with their strategic investment in HyProMag!

I still haven't read the amended f-4, but from reading posts here it looks like the changes are basically an amended FA fee agreement, a preliminary prospectus report doc, and a preliminary CPTK meeting statement (all of which I'd expect to be uncontroversial).

"Preliminary" perhaps suggests these documents, whilst necessary, have come unilaterally from MKAR (rather than following SEC feedback on the original f-4), with finalised versions of them to come following SEC comments perhaps?

All looks very much on course.

Agree July feels about right. The RNS only highlights 2 f-4 changes: the preliminary proxy statement for the meeting of CPTK shareholders and a preliminary prospectus relating to MKAR's common shares and warrants. Haven't read it yet but I assume those aren't controversial amendments.

AI hasn't thrown up any suggestion of problems either I see. As a smaller ipo, we're perhaps more routine and might move quicker than some?

So it could move quickly from here, and we presumably get more detailed confirmation of how well subscribed we are soon. I'm going for spacex which is x2 oversubscribed. x4 or x5 has happened in ipos recently. How will MKAR fare!?!?

Doesn't look there's any adverse issues arising, certainly. Hopefully it's nicely on track.

Private strategic investment in Hyp would be best imo (eg JLR, Siemens), but government investment would also be good, and better than none. If the government do show interest, it might also encourage private investment to move quicker?

Anyone else on tenterhooks waiting for the SEC declaration we're effective?!

I assume CPTK are fully prepared and monitoring SEC and are ready to send out their meeting notices the split second the declaration is made. SEC inform interested parties anyway presumably. Assuming a 20 day period to the CPTK meeting and a day to start trading, that makes 3 weeks from us being effective.

The main question atm therefore imo is when will the starting gun of the SEC declaration be fired? There's the precedents of other ipos as a guide on timing, but most significant is presumably what's happening on the ground in our specific case in the current SEC comment/response period. Has anything of concern to SEC been raised? What has to happen if so, and how is timing affected? Could MKAR be eg required to do anything, or amend form f-4 with the prospectus material, causing delay? Or is the process more performative? Can we find out any detail of what's going on atm? What can we infer on timings to ipo and trading from time itself passing atm?

Thanks SG. I'd have thought something must emerge during this process somewhere online, eg from parties submitting comments and SEC responses. It's "public" after all. Might help us gauge how it's going. I can't imagine there'd be much if anything that would prevent timely declaration as effective. Shortsellers might try arguing against perhaps.

Is there any way to monitor the public comment phase, and run in to the SEC "effective" declaration, to get a better feel for ipo timing? Or do we just have to wait, biting our nails...

Down with the market and sector imo. And our own RNS today was a bit non-news imo. Maybe it's what the new PR machine has seen fit to advise Hyp US put out.

It's presumably just the completion of the agreement for lease, ie the grant of the lease itself, and commencement of the lease term. It was expected, there were no onerous CPs announced. Into the unit we go, to plug the phone in and fit the burglar alarm. But not much else of significance seemingly, unsurprising as we already had sufficient knowledge and access to do the design work before fit out.

And maybe we start paying rent now (or start any rent free period).

Don't want to belittle it, it's good we're in and to hear about it, it's further evidence things are moving, but if I was JT I wouldn't have said it was transformational. Reserve that word for something, er, transformational.

Re future funding, it would be nice to think we'd have a long-awaited strategic investor or two on board before too long. Siemens or JLR maybe. No better way for an industry player to demonstrate their green credentials.

Https://rareearthexchanges.com/news/mkangos-rare-earth-recycling-dream-gains-momentum-but-investors-should-keep-one-eye-on-the-cash-register/

The question's becoming which government department or agency DON'T TPX have a contract with!