Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
There's many other magnet materials in the running but RE magnets should dominate for the rest of this decade as I understand it so I don't think MKA have too many concerns there. There's many other uses for RE's too of course. And on the Malawian mining side MKA's emphasis could switch to the rutile and uranium etc should demand for RE's reduce. Which cheaper and stronger non-RE magnet tech are you referring to btw?
To add the Swedish minister's quote:
"If the European union is to become the first climate-neutral continent, access to sustainable metals and minerals must be ensured. We need to use the uranium we have, instead of sorting it out and considering it as waste, as is the case now - due to the current ban on mining uranium," says Minister for Climate and the Environment, Romina Pourmokhtari.[3]
I like the way she's tied it to the wider EU climate neutral aspiration and using "the uranium we have".
Teresa take note, finish your golden shower and permit BKY's uranium extraction in Spain and get tf on with it fast.
I'd like to see full steam ahead asap on Songwe as I'm sure MKA would.
Macquarie, Cannacord and others are forecasting RE prices increasing significantly in the next 2 years. Add to that the geopolitically concerning background of China's dominance in RE mining/production and RE demand in the global energy transition. And add in lead in times to build the mine and get it into production. There's no better time to be getting on with it imo so production can coincide with high demand and prices.
PRE announced decent debt funding for their RE mine today.
Ps MyIPA interesting thoughts on recycling. Imo you posit the right questions and updates will come but I suspect it's way too early for any income (or securitisation/borrowing against future income streams) from recycling to benefit any nearer term cash requirements. And cash will be needed in the next few months imo.
Https://m.miningweekly.com/print-version/lotus-to-raise-30m-to-accelerate-kayelekera-restart-letlhakane-development-2024-02-23
$30m raise by Lotus to accelerate restart of Kayalekera i.a. MDA close?
Yes. AIM explorers/miners in particular.
Like others posting here, I think the chaos and delays in the Malawi mining side of MKA's business has acted as a major but disproportionate drag on the sp. Stock market conditions have affected most small cap mineral exploration companies severely, but imo this shouldn't have clobbered the MKA sp to the extent it has because of the progress on the recycling side in particular.
Assuming the loan agreement (Maginito to Hypromag Germany) for €2.5m still exists and is undrawn, cash of €2.5m presumably has to remain in Maginito, and can't be treated as cash in MKA. So MKA need cash shortly (within the next few months) as I interpret it.
The weak sp likely reflects market jitters about the cash runway being largely behind us now. But there'll be no problem for MKA to access funding on decent terms because of the value and strength of the business. Imo. Still a buy.
It's entirely right to be thinking about all these issues, in particular funding/solvency atm. But there's more than enough value in MKA to support the current sp. Another 10k shares for me today. Laughing by Christmas hopefully.
Presentation re Rodburn on Peak Nickels website.
https://www.peaknickel.co.uk/presentations
All things considered, now might be a very good time for Rio Tinto or another major to buy a stake in MKA (or at least Songwe and the mining projects). RT regard Malawi as investable (buying a stake in Sovereign last year).
Https://www.proactiveinvestors.co.uk/companies/news/1040094/globe-metals-and-mining-closer-to-opening-first-globally-significant-niobium-mine-in-50-years-after-positive-study-1040094.html?rel=scroll
Impressive update from Globe. Mka are further advanced so should hit the ground running once the MDA lands.
Thanks Leister
Mixed signals. Deadlock doesn't sound good but "only" taxes on profits and a (surely) trivial issue about sourcing chemicals/reagents mentioned specifically. Lotus nearly there? MKA not far behind?
Edging up. Possibly market thinking Sanchez' efforts to give an amnesty to the seditionists are doomed so his coalition's doomed too meaning fresh elections and a more pro nuke govt. The Catalans have his balls in a vice.
BBC News - Spain congress votes against Catalan separatists amnesty bill
https://www.bbc.co.uk/news/world-europe-68147811
My understanding is that the "few" outstanding MDA points under negotiation are still fx, foreign accounts and royalties. Below are the main provisions re those points Globe got in March. We're rather caught in the middle and suffering as MKA shareholders, and Malawi are risking being seen as uninvestable by delaying. Definitely time for a breakthrough from everyone's p.o.v.
It'll be hard to depart radically from what Globe got despite talk of changing the law around fx, and there'll be devil in the detail. But they've surely had time enough to sort it all now.
The good news imo is that MKA's MDA is the last big piece in our jigsaw so things should move quickly when we get it. Globe's was an early piece in theirs, before much of the feasibility work, and project funding.
• Globe is required to comply with all applicable foreign currency laws but is permitted to maintain
one or more foreign currency accounts outside of Malawi to meet its foreign currency obligations to
the initial Project Lender for a period of 7 years after the establishment of the relevant account or
the date on which the Company has discharged all its obligations to the initial Project Lender. These
obligations include (but are not limited to) the payment of interest and principal to the Project
Lender, the payment of mandatory pre-payments to the Project Lender, and the establishment and
maintenance of reserves as required by the Project Lender.
• The Malawi Government is to receive, at no cost, a non-diluting 10% equity interest in the Project,
with an option to acquire up to a further 10% equity interest (Equity Option) upon completion of
the construction, commissioning, and start-up of operations at the Project as approved by the
Project Lender. The Equity Option is a fully contributory interest and is capable of being diluted if
the Government does not meet any call by Globe for additional equity funding.
• The Malawi Government will receive a statutory royalty of 5% of all revenue earned from the mining
and processing of ore at the Project. The Kanyika community will receive a royalty of 0.45% as
prescribed under the Act.
Ball is mainly in Malawi's court imo. I don't think MKA can do or say much more atm. Lotus give frequent updates but only ever to say they're still at it and the indicative timeframes have all proved unrealistic. I think we just have to keep pushing but must also wait whilst a developing nation gets its act together.
Principal MDA issues for MKA's MDA are royalties, fx and the extent to which proceeds have to go to foreign or domestic bank a/cs. MKA's hands are largely tied as funders requirements are paramount.
Re Globe, Malawi gets a 10% free equity stake and 5%/0.45% central/local royalty.
Lol.
I doubt Cotec would want Songwe so I reckon another smallish raise by MKA whilst the MDA is awaited, unless it arrives in the next couple of months before the cash runs out. In that scenario I'd hope for a comprehensive funding package for all MKA's needs.
At least MKA is a new project. No legacy issues like Lotus' with Paladin. We might even get our MDA first. We know Malawi want it too and have issued one already to Globe. MKA's will probably turn mainly on funders' requirements.