Member Info for flundra

Is 10% equity and 5% royalty really that "awful" GLR?
Seems to compare reasonably with other regimes in Africa and worldwide. And particularly given where Malawi are, what they've said to date and the historic problems with Paladin. There's some decent tax breaks and fx account provisions to satisfy lenders in there too.

Wtfdik too but on the face of it a 10% golden share (with option to buy another 10%) and 5% royalty looks fair enough. The fx provisions look fair too. MKA's funding or sale plans may be further advanced too.

The Globe announcement in full...

https://www2.asx.com.au/markets/company/gbe

AIM, mining, delay, chill, buy

It'll be interesting to see what the market thinks when Globe gets its MDA. What will its SP do, what will Globe and the market experts and commentators say? Will MKA SP follow? Potentially very exciting times for MKA.

Assuming Globe does get its MDA in short order it will be informative for MKA shareholders to see the terms (and how reasonable they are) particularly as they relate to the crucial points of tax royalties and fx. I presume these will be announced on ASX. It's a very significant and positive development that the MDA seems to have been granted imo, assuming fair terms.

Lots of moving parts in these negotiations. Shareholders and lenders interests included. MKA must make sure they get fair terms. It's not our job alone to solve Malawi's foreign currency crisis for example.

Difficult to guess timeframes to MKA MDA completion. Hopefully not too long though particularly now there's a precedent with Global Metals presumably on fair terms. The same issues seemed to be holding that up.
This share still a strong buy imo. Just a bit more patience needed.

I guess it turns on relative bargaining strength of the parties. Both want the MDA but who wants it more and quickest...?

https://mwnation.com/govt-guards-against-exploitation-in-mining/

This article from mid Jan explains the ongoing forex/tax sticking point issues well.
At that point the Globe MDA review was at 90% and MKA review at 70% with both companies understanding Malawi's position.
Lack of fx currency is a big issue in Malawi.
If Globe are now at 100% maybe MKA 's up to 80%?!

Agree. And getting MKA to pay for established international firms (with their own reputations to uphold) to advise Malawi is more likely to prevent corruption than lead to it.

Good find crumbs.
There'll always be accusations of corruption flying around given Malawi's past, but Malawi finding and paying for other lawyers might not solve that. If there's corruption, it'll find a way whoever's acting and whoever's paying the bills. Lean on those other lawyers for example. I doubt Malawi will get anything better straighter and cheaper than MKA DWF and Trinity and the current bill paying arrangement though.

The bit I like most in this article is MKA having made a rutile discovery expected to fetch billions...

2 new sets of lawyers have joined the party in the last few months - DWF and Trinity. That means expense and delay, but should also mean licensing and a MDA that sticks. Just a little more patience needed I'd say then hopefully a massive reward.

Time for patience and to keep adding imo

What's the Advisory Committee actually done I wonder? Substantially strengthened BKY's position and greatly assisted - yes, but how?

Nice one sigas10 thanks for reposting!

My best guess is that DWF and Trinity will have now advised Govt of Malawi, who will in turn now be deciding whether to issue the MDA/ML in current form, or whether to seek further amendment, anything from a few tweaks to a major re-write I guess. The mood music going in to this was so positive from both sides though, you wouldn't think there'll be any points of principle needing changes, so no major delays. Fingers crossed.
When granted it'll be the sort of news that'll likely get announced by the govt or the press ahead of any RNS. Time to accumulate shares.
All imo, just surmising where we might be atm. Gla

Gardiner was chief operating officer at ORM, resigned in Sept '21. Interesting to see him recycled into another uk battery metals explorer.

Quiet atm given what's just around the corner

https://www.nyasatimes.com/mining-company-mkango-resources-given-approval-to-explore-songwe-hill-rare-earths-project-in-phalombe/

I think Lemon's quote here still reflects the current MDA position. Hopefully MDA is imminent therefore but I suppose the main question for now is whether the international lawyers find something Malawi want to renegotiate.

Ribera's so duplicitous. Lots of vague waffling around the desertification issue she's supposed to be addressing (eg people leaving places like Retortillo for lack of opportunity). At the same time she's preventing the solution (in Retortillo it's BKY's project) so as to further her counterproductive vanity policy of non nuclear. And acting unlawfully doing so. She seems almost proud to be sacrificing the opportunity for the area. Appalling.

I agree v nice purchase from Dawes. No one spends that kind of money on a whim. He knows where this is going.
Add in the Minister's comments, and the ML and MDA look nailed on to me. Yes there's the delay and expense as more lawyers scrutinise the MDA but ultimately that's a positive thing. It means the Malawi government are taking their responsibilities to the people seriously and gaining international credibility too. I suspect MKA are paying the fees (the Minister said there was no cost to Malawi in this exercise and the current raise was partly for fees) and MKA would not do this were they not confident the MDA stands up to scrutiny from everyone's perspective. Funding should follow readily imo.
No brainer strong buy imo.