Member Info for flundra

The team is well placed to exploit this. Get to DC, do the rounds of the departments, and get our SEAL into the Pentagon in particular.

As I understand it, spreadbetting companies can hedge or indeed hold the shares in a company clients are betting on, but there's no requirement to do so.

It's 0% shorts showing on LSE and IG, although IG haven't been accepting any orders for several weeks now.

Good luck to the spreadex shorters, they'll need it...

😨

I hope the Spanish electorate can see what's going on here. There's a massive totally unnecessary and foolish bill for $1bn++ coming down the track. Because of the obstinate unlawful self-harming stupidity of a small ideological faction within a minority government who won't of course be around when the bill lands.

Not just corrupt. Cynical and dumb to boot.

"The [ICSID arbitration] proceedings will now advance to the next phase which will include formalising the proceedings timetable and ground rules." Half year report.

The timing will be the interesting bit. The arbitration will take an age, but it'll be good to get an idea of timeframes for the process.

The last one of these I was invested in was Cairn Energy. Tax dispute with India. Cairn "won" hands down, it was never in doubt, the panel including the GOI nominee unanimously agreed. But...it took a decade and Cairn then disappointingly settled for about half the sum awarded (eg waiving interest and costs awards) to avoid having to enforce legally.

It'll be a different Spanish government in office once BKY's arbitration is concluded. I wonder what deal or enforcement action BKY might take. It may well be that permits will have been given by then however, and the arbitration dropped (wasted costs payable by BKY inevitably).

Also IMO BKY should concentrate 100% on the arbitration and uranium mine now and not commit funds to exploration or elsewhere. Preserve cash. The directors and staff can take other jobs for now if underemployed here.

Also worth noting PRE has today announced full approvals for its $268m financing requirements for its Angola project. African Finance Corporation highlighting its "investing in Africa Rare Earths...in line with the aspirations of the Mineral Security Partnership".

Https://www.ecofinagency.com/mining/1703-46506-lotus-finds-new-buyer-for-uranium-production-in-malawi

Good to see Lotus on track to resume uranium production by Q3. And real confidence being shown in Malawi with offtakes with Curzon, US Public Sector Enterprise Group and now a North American utility.

Bodes well for Songwe and the wider MKA portfolio in Malawi.

Julian Treger is on 6ix at 2pm. Strategic Investments: Navigating North American Resource Development

https://6ix.com/event/strategic-investments-navigating-north-american-resource-development

USARW is only the public warrants. USAR is the common stock of USA Rare Earth Inc now combined with IPXX

Https://www.mining.com/usa-rare-earth-merges-with-inflection-point-debuts-on-nasdaq/

USAR sits nicely with Hypromag's low carbon recycling process, particularly with the likely future tax advantages once more US sourced RE material comes up for recycling.

And a very nice 70% jump on the nasdaq ipo...

I doubt many Spanish taxpayers are looking forward to the prospect of a USD 1bn arbitration award against them. And that's for starters.

It's a bad time and a high price to pay for the unlawful actions and ideological stance of a minority.

Why not permit the mine, create jobs, save the planet, and make money instead?

Https://ciarglobal.com/el-tribunal-que-decidira-en-el-arbitraje-de-minera-berkeley-contra-espana/

Nice sp movement on more good news.

I was also wondering what Nyasa Times mean by "Songwe's attracting substantial foreign investment." A reference to the spac transaction, or do they know something more?

Https://www.nyasatimes.com/malawis-mining-sector-under-president-chakwera-revenue-growth-masks-deep-seated-challenges/

Excellent piece, Myles.

Remsa does look interesting, increasingly so going forward as more US and friendly material is recycled. (Presumably it'll be mostly Chinese initially).

Might Cotec and MKA have endorsed this bill? They should do.

https://swalwell.house.gov/media-center/press-releases/swalwell-and-reschenthaler-introduce-bill-incentivize-american-made-0

Agree. 15,000 more shares for me today. Good time to load up with this quality share with so much news coming down the track. Risk off market environment = MKA buying opportunity imo. GLA

Recent Highlights

Corporate

Completed independent technical studies on HyProMag USA and Lac Jeannine, valuing CoTec’s undiluted, attributable interest in these two projects at over CAD$300 million1.

Directors and management acquired more than 600,000 CoTec shares in the market during H2, 2024, demonstrating confidence in the Company’s long-term value proposition.

Secured a CAD$4.5 million convertible loan facility from Kings Chapel International Limited, a company associated with CoTec CEO Julian Treger. The loan is convertible into CoTec stock at 75c per share, a significant premium to the market price at the time.

Engaged Peter Epstein and Torrey Hills Capital to assist the Company in its investor relations and market awareness efforts.  

Projects

HyProMag USA LLC (60.3% ownership)

Completed independent feasibility study with NPV7% of US$262 million, real IRR of 23% and payback period of 3.9 years at current market prices2.

NPV7% US$503 million, real IRR of 31% and payback of 3.1 years using forecast pricing.

Initiated EPCM contractor selection to undertake detailed design, engineering and project construction.

Engaged with USA Government and commercial financial institutions for potential funding of the project.

Advanced discussions with numerous potential suppliers and off-takers.

Showcased HyProMag’s rare earth magnet recycling and manufacturing projects at the Minerals Security Partnership meeting in Brussels.

Maginito Limited secured exclusive agreement with Inserma to commercialise automated preprocessing of hard disc drives, loudspeakers and electric motors for all HyProMag operations.

Key Operational Targets for 2025

HyProMag USA

Appoint US based EPCM contractor.

Complete detailed design and engineering and confirm notice to proceed.

Ordering of long-lead items and sign lease/acquire property in Fort Worth, Texas where the main project facility will be based.

Application for all relevant permits and securing off-take and supply contracts.

Secure financing for the project (Government & commercial) and commence construction.

I wonder what ERMA's involvement is now, given the spac transaction. Also, EITRM's loan was repaid and Mkango Polska shareholding converted to MKA shares last year.

It's good, we can expand, but this announcement needs more detail (like a lot of MKA announcements). What are the terms of the land lease agreement? Is it a kind of prelet where Azoty own the land, then fund and construct any expansion, then Mkango take a lease? At what rent? Would rent include turnover/profit share from the operation? Similar outcome to Major Tom's JV suggestion perhaps?

This announcement is well timed for the spac listing.