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If Lotus are hoping for their MDA a month or so after receiving a draft or doc setting out Malawi's position....what's the best guess for when MKA will get theirs?
Could be anytime of course but perhaps after Lotus.
We'll be running on fumes by April so perhaps another raise around then. Should be no problem and no big discount given the value elsewhere in the business particularly the recycling side. Loans may also be possible I guess.
I'd been hoping for an earlier MDA triggering a comprehensive funding package for Songwe w/c and other requirements. Might be treading water for a bit now.
Hard to see why the drop unless there's something we don't know. Wouldn't be the first time on AIM.
Often it's money but that doesn't seem too bad and even if it comes to raising more in a few months for working capital it should be readily available on reasonable terms atm imo.
When Mkango Resources last reported its balance sheet in September 2023, it had zero debt and cash worth US$2.3m. In the last year, its cash burn was US$3.3m. That means it had a cash runway of around 8 months as of September 2023. Cash burn rate reducing though.
https://simplywall.st/stocks/ca/materials/tsxv-mka/mkango-resources-shares/news/were-keeping-an-eye-on-mkango-resources-cvemka-cash-burn-rat
Maybe it's just some investors losing faith in the light of the lack of progress/comms from Malawi.
Thinking of MKA while reading Irwin Stelzer today talking about China shaping climate policy: "Xi has it in his power to slow the growth of the American economy by denying our companies access to chips or the rare earths the output of which they dominate."
And the uk gets it too...
https://www.world-nuclear-news.org/Articles/UK-releases-roadmap%C2%A0to-quadruple-nuclear-energy-ca
Come on Spain
I'd still like to think getting the MDA over the line asap is best for all parties. I think MoM should update given its own deadline's expired. Hopefully the delay isn't driven by temporary fluctuating issues like fuel supply, inflation and location of FX accounts. They're relevant of course to how quickly/slowly to build and produce over the life of the mine. But right now let's see the MDA so at least we know we can actually develop Songwe when the time's right.
US get it. Spain are just watching the planet roast and buying Russian stuff 🤦 The Russians must be laughing all the way to the bank.
President Joe Biden's administration sees the new reactors and maintaining the current fleet of nuclear plants as critical for its climate change agenda.
https://www.reuters.com/world/us/us-seeks-jump-start-production-higher-energy-uranium-now-made-russia-2024-01-09/
I'm just saying were actual sales to match (or indeed get anywhere near) projected capacity we'd all be quids in and very happy very quickly! Sure unlikely but I'm looking forward to details of these new contracts and hopefully rapid scale up from here. I didn't suggest the £50m/£75m are sales projections, you've misread that.
Damay obviously it's capacity we all know that. It's encouraging to see this projected expansion particularly in view of the anticipated new contract awards. Looks to be going in the right direction and I'd hope for rapid scale up from here.
Plenty going on in the courts. Appeals against Miteco's refusal to permit and the annulment of the exceptional use and urbanism licences. Hopefully everything will be facing the right direction soon. There couldn't be a better time to get digging. A strategy update would indeed be welcome.
Https://masterinvestor.co.uk/equities/small-cap-catch-up-steel-myths-and-brakes/?mc_cid=54dfd4d609&mc_eid=340be254f4
And finally. Lightweight tip article.
Didn't MI also tip this recently at 23p ish just before the rns from hell?
Https://www.telegraph.co.uk/business/2023/12/23/scramble-uranium-supplies-new-nuclear-silk-road/
I wonder what the point of yesterday's mining trade article was. Perhaps it appeared just because it's 2 weeks to year end and the latest govt assurance of the MDA by then. The article isn't reporting anything new, just rehashing material from Nov.
Frustrating though the delays are, I still get the impression the MDA's close. I also reckon there's a structured funding package moving in tandem with the negotiations which is perhaps 90% complete atm and should follow in short order once the MDA is given.
Ormonde Mining PLC - holds stakes in Toronto-listed gold and copper explorer Tru Precious Metals Corp, which has a project in Newfoundland, Canada, and in battery metals explorer Peak Nickel Ltd - Notes an announcement by its 36.2%-owned investee company, TRU Precious Metals, which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada, of significant assay results from its fall season bedrock sampling programme. TRU announces further gold and copper results from additional prospecting and bedrock sampling conducted on its Golden Rose project. Brian Timmons, executive chair, says: "We are encouraged by these latest bedrock sample assay results from Golden Rose. These reinforce our belief in the potential for Newfoundland to emerge as the next global Tier 1 gold producing region."