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Just looking at where we are now, it’s hard not to feel a bit battered and worn down.

Three months ago today, we were sitting at 57p, having already climbed from 42p. During that period, we hit 62p and didn’t drop below 50p until March 13th. Since then, it’s been pretty dire. Yes, we’re up around 20% from the lows of 33p, but the bigger question is how we ever ended up there in the first place!!

What’s been most frustrating is the company's near-silence. I’m not someone who expects constant noise or empty updates, but after an abysmal placing, shareholders deserve something like an interview or such—to rebuild confidence. It does make you question who’s been advising the company through this period.

Maybe a £150m market cap is fair at this stage, and we have been carried away somewhat, but it still feels like we should be closer to at least 50p.

Hopefully, lessons have been learned. But like many others, I think the directors now have a job to do in earning back trust.

Anyway, just a gentle moan, I am sure I am not alone!

Come on Kat, you know the majority will be Bed and Isa deals.

No doubt this message will be missed at 22:30. But............

Having read through 126 messages tonight, it’s pretty clear no one really knows what’s actually going on.

I hear the frustration — and I share it.

At this point, the best thing is for Alex and Will to tell us shareholders what is going on.

They’ve been far too quiet for far too long.

Time to step up.

@StockGenius I completely agree with that. The trades over the last few days support your thoughts.

14 followers..... oh dear

@esduk nailed it yesterday. We follow the US when they go down, but hardly ever when they go up.

Yes, I agree with that, Esduk. Posts only give you 3000 characters, so I couldn't put my whole view across!

Profit-or-roll, also agree with that

My initial thought was that the rollout in other places was slow due to the manufacturing of the equipment. Then I kept on throwing points at Chat to answer, a bit of a rabbit warren!

Chat should never be used for 100% investment guidelines, but it can help speed the search for information and create debate, which it has done!

A very brief overview from Chat - it went into a lot of detail. Does make sense I guess, and certainly helped me

Mkango operates in a strategically important area of the energy transition, aiming to build a rare earth magnet supply chain outside China through recycling (HyProMag), future separation at Pulawy and mining at Songwe Hill. Despite strong global demand for alternative supply, progress can appear slow because Mkango is developing multiple linked parts of a future system rather than a single project, meaning expansion must be sequenced carefully.

Tyseley in the UK is not just a production site but the reference plant used to establish real operating data such as costs, yields, maintenance cycles and product consistency. Germany’s role is to prove the technology can be replicated outside the original environment. Until both plants operate steadily, investors do not view the process as fully scalable, which is why expansion beyond Germany appears cautious. This phase produces limited news because optimisation and commissioning are operational rather than headline milestones.

Equipment availability is not the main constraint, as most machinery involved is standard industrial hardware. The real challenges are operational learning from early plants, hydrogen safety approvals, feedstock supply and customer qualification cycles. Recycling businesses typically scale only once utilisation and commercial demand are proven.

The joint venture with CoTec reduces risk but also means expansion decisions are shared and based on demonstrated economics rather than narrative momentum. At the same time, Mkango has explored a SPAC route to support funding for the capital-intensive Songwe and Pulawy projects. During this type of process, communication naturally becomes more cautious, as forward-looking statements and valuation assumptions must be controlled. Proving recycling first strengthens the financing case for the upstream assets.

Although the geopolitical case around China’s dominance is strong, Mkango is not pushing that narrative aggressively because current production volumes remain relatively small. Management appears focused on maintaining credibility until steady production, repeat customers and contracted demand are visible.

The key issue investors are watching is therefore commercial proof rather than technology. A long-term offtake agreement for recycled material would likely change sentiment quickly by confirming product acceptance, economics and demand-driven expansion while also strengthening financing prospects for the wider business.

In realistic terms, 2026 is likely to focus on stabilising Tyseley and ramping Germany, with late 2026 to early 2027 being the period when commercial agreements and clearer expansion plans could emerge. Mkango’s current pace reflects sequencing and validation rather than structural problems, as the company moves from technology proof to operational and commercial proof before expansion

Like many others, I trust the board — and it’s worth remembering they’ve got very good advisers around them.

That said, they could do an RNS with them being in a ‘closed period’ or ‘sensitive period’. !!!

That would put a rocket in the share price

Wishful thinking I know ;-)

Agreed, but who follows their handle? All of us lot who are invested! It needs to be preached to a wider audience

to sound like a stuck record this board is the best.

yes we have had the odd ******** but nothing compared with others

it is very informative, polite and confident in mka without ridiculous ramping.

i know i am certainly one getting a tad frustrated with lack of pr/communication but esduk made the very valid point that the directors have a lot of skin in the game so will be aware of the situation.

we know how this game works, we start moaning a bit about lack of news and the next day we get it!

let’s hope that is the case for tomorrow!

Mkango is positioned in the most valuable part of the rare earth market: permanent magnets. While magnets are only a smaller slice of the wider “critical metals” theme, they drive the majority of rare earth demand (typically ~80–90%), mainly through NdPr (neodymium + praseodymium), with Dy/Tb additives used in higher-performance magnets. This puts Mkango directly in the supply chain that matters most for EV motors, wind turbines, defence and advanced manufacturing.

Unlike many rare earth juniors, Mkango isn’t trying to win purely as a mining story. They are building a non-China magnet supply chain platform through recycling and downstream processing via Maginito (79.4% owned by Mkango and 20.6% by CoTec). Maginito owns HyProMag and Mkango Rare Earths UK, and is commercialising HPMS (Hydrogen Processing of Magnet Scrap) — a short-loop recycling process designed to recover NdFeB magnet material from scrap and end-of-life magnets and convert it into usable magnet-grade feedstock and materials. This increases strategic relevance, improves customer pull, and has the potential to deliver earlier commercial traction than a mine-led timeline.

Execution is already visible. Mkango has established a UK recycling and manufacturing base at Tyseley Energy Park in Birmingham, proving a pathway beyond pilot scale. They are expanding into mainland Europe through HyProMag GmbH with a plant development in Pforzheim, Germany — an important industrial hub where demand for secure, local magnet supply is accelerating. In parallel, Mkango and CoTec are scaling into North America via HyProMag USA, a 50/50 joint venture, supported by securing and stockpiling feedstock — a key requirement for recycling at scale.

There is also a growing policy tailwind behind Mkango’s strategy. The US “Project Vault” initiative (a strategic critical minerals reserve concept focused on reducing China dependency) reinforces the increasing premium placed on traceable, secure, non-China rare earth and magnet supply — and strengthens the value of near-term solutions like recycling.

Mkango is not the only company globally working on recycled rare earth magnets, but it can credibly position as one of the most advanced Western players moving toward commercial-scale output across the UK and Europe, while simultaneously building a route to scale in the US. The overall opportunity is the premium “magnets without China” market, where buyers increasingly pay for supply-chain security, traceability and lower-carbon materials — not just the commodity price.

If delivered, Mkango offers multiple shots on goal across the UK, Germany and the US, potential partnership and offtake upside, and the chance for a valuation re-rating from “rare earth optionality” to strategic supply chain infrastructure.

Edsuk, I would say boredom! I have been posting more recently because it's been so quiet from MKA. We need some news!!! And I won't apologise for saying it!!

Just a video or an interview! please ;-)

On February 2, 2026, President Donald Trump announced the launch of a $12 billion project named "Project Vault," a strategic initiative designed to stockpile critical minerals and rare earths to reduce U.S. dependence on China.

The project is designed as a "Costco model" for American industry, acting as a public-private partnership to secure materials for tech, defense, and manufacturing sectors.

Here are the key details of the project announced:

The Goal: To create a strategic reserve of critical minerals—such as gallium, cobalt, lithium, and nickel—to prevent shortages and counteract Chinese dominance in the supply chain.

Funding Structure: The $12 billion initiative combines a $10 billion loan from the U.S. Export-Import Bank (Ex-Im) with $1.67 billion in private seed capital.

Project Participants: Over a dozen companies have signed on to the initiative, including General Motors, Stellantis, Boeing, Corning, GE Vernova, and Google.

Operational Mechanism: Commodities trading houses—Hartree Partners, Traxys North America, and Mercuria Energy Group—are tasked with handling the purchase and storage of the materials.

Context: This initiative is a response to China’s restrictions on exporting minerals crucial for jet engines, radar systems, and EVs, following tariff actions. It mirrors the Strategic Petroleum Reserve but for critical materials.

"Project Vault" is designed to help U.S. manufacturers hedge against price volatility and supply chain shocks.

From our friend ChatGPT....

Good date to pin it down — and with Feb 2, 2026 specifically, we can tighten the “who could it be?” angle.

Short answer: we still can’t prove the borrower from official docs, but there’s one name that fits the breadcrumbs better than the others.

What’s officially on record (and what it implies)

EXIM’s Board agenda for Feb 2, 2026 lists AP300117 as:

a direct loan (no bank involved)

domestic finance (Exporter/End-User = N/A)

via EXIM’s import authority

for “U.S. companies, domestic employment, and supply chain resilience”

with a Federal Register-style public notice/comment process

That combination strongly points to a “supply chain resiliency” facility for US-based industrial capacity (often critical minerals / manufacturing inputs).

The strongest candidate people are circling: HyProMag USA (rare earth magnets)

The only “candidate” that shows up with a concrete, specific Delaware tie is:

HyProMag USA (Newark, Delaware)

This comes from investor chat/forum sleuthing, but it’s notable because it gives an actual Delaware address and ties into exactly the kind of “supply chain resilience” EXIM language that would map to strategic magnets / rare earths.

Also, HyProMag is associated with the UK-listed group Mkango Resources, which explains why UK markets chatter about it.

Other names being speculated (weaker evidence)

These are being discussed online, but with less direct linkage:

Critical Metals Corp (CRML)

Mentioned mainly on Reddit as “seems aligned”, but it’s not backed by any EXIM document naming them.

This is Mkango we are talking about! This board has to join the dots. And I am very grateful to the people who do!

Down 4.84% on what! utter BS

I know esduk has some thoughts on this a while back, but with their volume, surely it can't affect the UK price too much.

Looking at the chart, we are on the way up!

Plus, that buyer at 16.39 for 50k at 65.50 would be pretty annoying!

Amazing how low the volume always in in Canada

Primary Exchange: TSX Venture Exchange (Ticker: MKA)

Secondary Listing: London Stock Exchange - AIM (Ticker: MKA)

Not doing their day job as they are spending too much time on here!!

Surely this is the start of it now! Up up and away..........