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Https://www.politico.eu/article/spain-prime-minister-pedro-sanchez-threatens-to-resign/
Here's a thought. Last 2 paragraphs of this suggest one scenario of Sanchez resigning and calling a snap election. PP is 8% ahead of the Socialists in the polls. A PP led nuclear friendly government if elected might then permit the BKY mine, later this year even. Wishful thinking maybe but not impossible.
Is it only the expectation that only a small %age of shares tendered would be successful that's holding this back? Seems like a strong buy to me, free money for shares successfully tendered, and with a current ca. 12% yield and much greater potential upside than downside for shares rejected in the tender, so a decent plan B.
Madinga's right to lament bureaucracy as the main hindrance to progress in the mining sector.
But sadly this conference has been largely hot air imo. No MDA and no MKA either.
https://times.mw/bank-chief-speaks-on-mining-bottlenecks/
More reasons for Spain's dodgy government to permit BKY's mine, act lawfully and stop cynically manipulating institutions like the CSN by appointing anti-nuke activists to the board to force unwarranted political goals.
https://www.kitco.com/opinion/2024-04-23/miners-ignore-softer-uranium-price-0
Given the increasing global recognition of nuclear energy's importance to energy security and decarbonization, the demand for uranium is forecasted at 338 million pounds in 2040, requiring the supply to double by then. (New mines needed).
The geopolitical situation in Niger has intensified in March. (Spain sources U from Niger)
Yes it still looks like Malawi's politicians are trying to kill the mining sector goose before it lays its golden eggs. High taxes, and mining's expected to resolve the forex crisis too. There's also talk of adding value processing ore in country prior to export, which doesn't sit comfortably with Pulawy.
The sensible voices urging cutting bureaucracy and moving quickly are on the sidelines. Malunga and Standard Malawi Bank for example.
I've only seen Lindian and Globe attending this forum. No sign of SVML Lotus or MKA. For the companies that could currently deliver on Malawi's mining aspirations (and supposedly about to get their MDAs) not to attend this flagship event speaks volumes imo.
What will MKA's strategic review conclude? Tough it out for a bit (how long for though), or cut losses and sell up to refocus perhaps exclusively on recycling?
Https://mwnation.com/malawi-dared-on-mining-potential/
At least they're talking about how important it is to get the MDAs done.
Https://times.mw/oil-prospects-high-minister-says/
Grain Malunga's comments here re mining in Malawi hit the nail on the head. Get him back into government.
Ormonde Mining PLC - Dublin-based natural resources company with assets in Newfoundland and Scotland - Says its 36%-owned investee TRU Precious Metals Corp intends to carry out an exploration project this spring and summer at its Golden Rose project in Newfoundland. Exploration will focus on assessing the critical minerals potential associated with the deposit-bearing Cape Ray-Valentine Lake Shear Zone. Executive Chair Brian Timmons says: "Not only does Golden Rose have high-grade gold discoveries along the same structures as nearby deposits, but it is also highly prospective for copper and other critical minerals. With a number of large gold companies seeking to diversify their exposure through copper, we believe this multi-mineral resource focus will make Golden Rose even more attractive for M&A in the future."
This mining conference is premature. I can't see any more MDAs appearing anytime soon. Globe are enthusiastic and attending (the only large scale project with an MDA under the new regime). But no other significant players seem very interested, hardly a vote of confidence. Lotus, SVML, MKA etc. Anyone aware they're engaging or attending? Looks like a turkey. The President should get "visibly angry" with his AG and the other ministers responsible for getting mining underway, but failing to deliver. Malawi will become a laughing stock for mining if it isn't already.
Good to see Monica making the right noises, commending the president and urging ministries to work together. Hope the AG's listening. There won't be much to talk about at the Mining Investment Forum without MDAs. Just tumbleweed blowing through a graveyard of ambition.
Https://times.mw/attorney-general-adamant-on-mining-agreements/
All part of the same regime, but the AG seems to be dragging his heels. The President and Mining Ministry seem keen. Can they get the AG in an armlock or something. Pressure needed. Little point Malawi pushing its mining sector without MDAs to enable mining.
Maybe one of the 5pps private placees reducing their existing shareholding (so as to maintain their pre placement %age perhaps) ahead of admission of the placing shares. Effectively £20k trousered on 2m @ 6p. Should pay for their round tonight...
Yes frustrating to say the least. The market's responded positively, for now. Perhaps it's relief BKY are finally going on the offensive. Maybe they should have done this 10 years ago when the then coalition (a similar make up to today's) bragged to Reuters they'd refuse to grant the permits regardless of illegality.
I suppose these new more aggressive legal tactics, or environmental necessity, or mounting political pressure might force the coalition to change tack and permit anyway. But for now we still have to endure Teresa and chums sploshing around playing their revolting potty games.
BKY need to tell us what the plan is. What will they seek in the arbitration? Specific performance orders compelling the government to permit, if that's even possible? Or just financial compensation? Chances of success? Timeframes? Why commence now?
I guess starting this arbitration was inevitable, perhaps triggered by the amnesty law passing last month, and the prospect of this government and its anti nuke policy lasting to the next election in 2027 and maybe beyond.
It'll cost a lot and take ages. BKY should win, but then there'll be the issue of enforcement. And even if a future friendly government permits in the meantime or later, its "price" for permitting would probably include BKY withdrawing the arbitration proceedings or giving up any award, with BKY bearing the costs. Costs ultimately may be irrecoverable, but arbitration is still probably the right thing to do now I guess.
What do you guys think?
Ahead of this next forum for yet more mining "discussions", here's a quote for Monica and the Ministry of Mining, from Nassim Taleb's Skin in the Game:
"For it will always remain that action without talk supersedes talk without action. Those who talk should do and only those who do should talk"
Let's see some MDAs. Producing one before the forum would help get people's attention.
Looking forward to Hypromag's progress reports this year. To see some detail, meat on the bone. Sales figures, volumes, specs, profits, projections etc.
JT's super enthusiastic comment that 3000 magnets have already been produced in Tyseley suggests it's proceeding apace. That equates to about 1000 a month so far. I assume it's the smaller magnets only atm, eg for consumer electronics (and maybe for those robotic arms for gall bladder removal tweezers)!
I get the strong impression Hypromag leads the space by some distance. Hiron a bit limited perhaps.