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A share to follow the money imo. There'll be a lot of people involved from the Malawian state, MKA and the teams and advisors. I'm sure they're all squeaky clean, but just in case maybe watch for sneaky buying ahead of grant of MDA/ML... Imo

This is a good on topic article Paul

https://euobserver.com/world/156226

Basically Russian state owned company Rosatom controls uranium mining in Kazakhstan

https://news.sky.com/story/im-a-bad-vegetarian-who-sometimes-breaks-the-rules-could-lab-grown-steak-be-the-answer-12800633

Parts of the Scottish Highlands identified by the BGS as particularly worthy of further investigation...

https://www.cnbc.com/2023/04/17/energy-uk-identifies-areas-to-scour-for-critical-raw-materials.html?__source=twitter%7Cmain

The debate in Germany's interesting as they switch off their last nukes. Quite evenly balanced. Trouble is too many crackpot ideologists and politicians seeking power. No one's in it to do the right thing.

Nice volume today

You'd think the Licences and MDAs were so closely aligned they'd both be dealt with by the new authority. Might MKA put something out to tell me at least wtf this all means for Songwe?! Looks important.

Might be akin to when the BOE were charged with setting interest rates? Took the politics out of it. Separated powers. I agree there's nothing negative here.

It might depend on the make up of the independent regulatory body. If that has all the power vested in it.

Quite how it will all fit together and who will deal with what is still a bit of a mystery to me tbh, but at least none of it looks like bad news, and hopefully it will improve the regime. This new independent regulatory body seems to be the entity that will actually grant mining licences going forward.

Not the clearest article ever written, but it looks like it's only about creation of a new independent regulatory body. A Malawian anti-corruption thing, rather than extending the scope of the legislation to accommodate MKA's or other concerns. Hopefully no moratorium or delays on new licences/MDAs whilst it progresses. That would probably have to be RNSed.

Maybe delays but hopefully for the better and perhaps explains the recent selling. Still a buy imo.

I guess it's perfectly possible MKA could sell Songwe to the Chinese but I don't think it's possible Malawi could or would nationalise Songwe at undervalue or otherwise rescind MKA's Songwe licences. Malawi's building international credibility for example with the US and with deals like with GBE. The money Malawi will get from the royalty and equity stakes in Kanyika Songwe etc depend on its political fiscal and legal stability. Malawi's maturing.

Yes done that hence the question.

About time for an update?

Aha yes here we go. Great news. At last this will go in front of a court. I imagine judgment won't arrive till around the election at the earliest. If this conwoman Ribera and the rest of the clowns get booted out a new government should permit anyway. Or if God forbid Ribera comes back she'll have to commit public funds to appeal any judgement in BKY's favour. That could be tricky even for a brass necked idiot, time could be up for her quite soon.

The GBE MDA terms are informative for MKA and there's some read across. MKA's project is also unique of course so the shape of our MDA could be very different.
MKA is still a stonking buy imo. The broad mine refine recycle business, demand for REs without Chinese involvement, and our other assets etc etc.
The GBE MDA terms per se seem reasonable. A 5% (tiny .45% local) royalty (even gross) reflects the benefits of a stable political and tax regime (the latter written in to the MDA for 10 years). If the starting point is say 0 to 15% it's fair. 10% state golden share fits well too and the 10% fully contributary option is on balance positive for future funding.
Why the tanking SPs? Presumably the wider risk off approach of the market to growth stocks like these, credit crunch concerns for funding GBE/Songwe and geopolitical concerns with Malawi's difficult recent history etc etc.
Wtfdik and all IMHO of course but definitely a buy at these bucket shop levels and gla.

There's also still the mysterious rutile asset lurking in the background.

Agree Lewis. And I'd rather be the second or third MDA under Malawi's new 2018 regime, than first. MKA can learn much from the GBE precedent and negotiate smarter now.

The equity option is a full contributary interest so they'd be in there with the pack