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Remember SVML's rutile deposit is the biggest in the world ever. And it's plausible MKA's will be even bigger! MKA need a good reason to keep it on the back-burner. So I suspect they must be very confident a decent Songwe MDA is round the corner, to be focusing so much on that, rather than the rutile.

GLA

Malawi's and Rio's excitement about Sovereign's rutile indicates the Songwe MDA has to be v close surely. Why else would MKA soft pedal on its rutile...

Most commentators seem to be predicting another election later this year. Sanchez seems to have had a good run up to the election and got the leftist and youth vote out. Conversely Feijoo (despite winning) messed up big time, turning down debates, dissing Vox and mishandling interviews and his skeletons etc.

So if he gets it right next time, might he succeed? It'd be good for BKY.

I agree it's oversold but a hold for now till the dust settles imo.

This explains the politics quite well.

BBC News - Spain's conservatives miss out on all-out victory as left celebrates

https://www.bbc.co.uk/news/world-europe-66285245

As I understand it, there's a small prospect of a leftist or rightist coalition. More likely is a hung parliament and another general election at Christmas.

The legal case is ticking along in the background, but barring a new coalition now we're probably back in limbo till the end of the year.

I suspect BKY won't rev up the legal case yet, pending more clarity on the political situation.

GLA

Https://www.bbc.co.uk/news/live/world-66278516

Beeb running a live reporting page.

And assuming tomorrow's a normal trading day in Oz I guess BKY will open on the ASX tonight around the time the election result is apparent!

Election today. First exit polls 8pm, and a clear voting picture by midnight. Still looks like it'll most likely be a PP victory with no majority, and a coalition with Vox.

The next few weeks could be very significant for BKY. Permits should more likely be forthcoming under a PP led government.

All the opinion polls give PP victory (albeit no majority). Except one....the poll by the government appointed pollster lol!!! Kind of says it all about the election, the current government, and the nature of Spanish politics.....

Very good webinar and pleased to hear it'll be the format for future general updates too. Also just reading Ed Conway on REs and the recognition we "need to put more work into recycling batteries". Step forward Mka and Cotec, perfect timing.

I thought Alex Lemon was brief, tight-lipped and scripted about and MDA and rutile (backburner for now pending the MDA). I see that as a good thing, a few MDA points to go, completion hopefully in the near future, no reason to believe it's not coming. There's not much more he can or should say, particularly after the overoptimism in Jan particularly from Malawi.

I think that fair and reasonable MDA terms were basically agreed last year. That's evidenced by MKA paying for Malawi to take independent professional advice to confirm. The subsequent delay/additional points could be down to a number of factors but I see this as the geopolitical risk of involvement with a state in transition playing out. Not in our favour in recent months but one to suck up as a shareholder in a Malawian project.

Hopefully we'll now go from Mcan'tgo back to Mkango!

Https://masterinvestor.co.uk/funds-and-investment-trusts/discount-opportunity-for-augmentum-fintech/?mc_cid=3dda0f370e&mc_eid=340be254f4

MI tip too

If there's no news, it might just be management showing their faces to comfort impatient shareholders. We're still here, we're on it, all parties seeking a win win outcome, that sort of thing. Maybe some further commentary on the unresolved areas. FX, foreign bank a/cs etc. I wouldn't expect anything substantive outside an RNS though.

Imo we just wait for now. It's also unfortunate that now's the time the government's rearranging itself in how it deals with mining and MDAs. They might comment on the impact of that.

Mmmmm yes I'll cling to my hopes for now but fear you're right. Seats on the TRU board and the influence of substantial shareholding effectively enables ORM to rely on the TRU listing and there's no indication of merger/combination anytime soon or at all...it does point to ORM going private for the medium/long term. Money for such pojects will be needed in short order too which will likely come from placing on unfavorable dilutive terms for existing small shareholders. Generally the way.

An off market trading facility is also probably wishful thinking, too expensive for too small a market. It'll likely be hard for little guys to exit.

Oh well, let's see what the details announcement comes up with.

The TRU proposal is an RTO under AIM and euronext rules and the cancellation is only referring to the AIM and euronext listings. Moreover this AIM/euronext cancellation is proposed because TRU has a listing.

So I do still wonder and hope my ORM shares stay listed somewhere somehow. The next announcement about the reasons and effects of the cancellation will hopefully clarify.

You may be right (ORM as a private shareholder in listed TRU may be what's coming) but I don't think the announcement's saying ORM has to delist everywhere, just that it will on AIM/euronext.

I fear you'll be right DS.

The TRU proposal is an RTO under AIM rules. I wondered though how it's treated under the Canadian/TSVX regime and might ORM shares automatically become TRU shares. Eg if it's an RTO and TRU backs into ORM then it's ORM that relists on TSVX? Might it work the other way round eg ORM into TRU, maybe 30%+ delivers the same end result but us getting listed TRU shares? I'm very unclear about this.

One crumb of comfort is that I don't see any running down of ORM.....yet. Eg no debt, and I take at face value the Peak and TRU deals are for fair value. But like you say....what would come next if off market with debt/dilution etc.

I'm concerned about dealing my ORM shares going forward, what happens to them as a result of these proposals/deals? I was wondering are they exchanged for TRU shares in an RTO process and if so will we then automatically hold TRU shares and be able to sell them on TSVX assuming there's a platform non-Canadian holders can hold TSXV shares on? Or will ORM now just stay private as a shareholder of Peak and TRU? Can anyone shed any further light?

GLA

The next announcement covering the effect of the cancellation will hopefully cover how to deal ORM shares going forward. If ORM isn't relisting anywhere it would be nice if they set up an off market dealing facility, having listed on AIM, encouraged us in and then effed us around for years. If the TRU proposal constitutes an RTO under Canadian/TSXV rules this might also mean ORM will take over the TSXV listing and ORM shareholders can then deal if they can find a platform where they can hold TSXV shares. Any one know? Otherwise it's private limbo. If any one wants to buy mine privately do let me know btw!

I have no interest in TRU and will exit asap. ORM will be kicked out of my isa now sadly. Fwiw (probably not much) I also suggest vote against this if it leaves ORM private with no dealing ability. They could dual list.

Https://www.euractiv.com/section/politics/news/pp-leader-urges-socialists-to-let-him-govern-avoid-pact-with-vox/

Interesting to see how PP are lining up PSOE to take responsibility for Vox in government! A PP/Vox coalition still seems most likely.

The polls are consistently giving PP a clear lead (albeit no majority) so they'll probably have a mandate to lead and form the next coalition government. Vox is the most likely coalition partner to get them past the 176 seat post.

When a firm of the calibre of Herbert Smith are behind BKY's "strong opinion" that the government's refusal to permit is "not legal", it's pretty certain they're right. Overlay the politics, ie PP's and Vox's pro-nuclear stance, and it's likely we'll see withdrawal of the lawsuit and permits given in short order if they get in.

Maybe 40p+ by the election, 50p+ on a PP/Vox coalition and 60p+ on permits and top up funding.

50% up in June. On course for plenty more.

In Jan all sides were saying MDA imminent. Late June now and it's v quiet. I suspect it's close. I'm not sure putting out more material would help. It's a negotiation. Telling frustrated shareholders where we are in that could backfire. We'd have to be told if it was off. I think we just have to wait for now.

...less than 10% cos. BKY's opportunity is infinitely better!!!

Strong buy imo.