Member Info for Gallmat

Nope.

More interested in the UK commissioning and maybe grants

Things are always best when they get politicised.

They have the perfect excuse to support. You can point to USA interactions with ukraine and greenland.

It you do nothing you just look like an idiot who is asleep at the wheel.

Hoping for some good announcements

Thanks Tom.

I had a similar thought on location of the plant which is why I asked the question on the presentation. It seemed to be that pulway was chosen due to 40pct lower costs than anywhere we else.

I also noticed an interesting line where they said they were

"Already looking at something much bigger on or near the site to significantly scale up"

I still think they might be asking for support for a bigger operation, seems strange not to do that if ionic are going for something with 1200t input.

Their costs without scrap are higher than ours with scrap. They also released a preliminary study yesterday saying a 30 to 50pct reduction in co2, again probably worse than what we will release ( cotec doing study)

You have to fire a warning shot against them and show you will contest the scrap supply

https://x.com/Mark42367885/status/1891625948744749503?t=nZo1OaXKYn2wwkGyPb7mYQ&s=19

I hear vsa organised lots of meetings for the CEO.

Seems like people are getting interested.

Why I think grants are inbound for the sector.

Ionic newsletter quoting statements in uk Parliament.

It seems bullish for them and implausible we will not also get support, given we are supported by MSP and are frequently noted by the CMA

https://x.com/Mark42367885/status/1891469817455980611?t=MfuEonpeF3Mk6r9p8lurXQ&s=19

Profit

I am not sure this is a huge rns. This is just saying we agreed terms for a future lease. No way it is binding. Wr have not even completed the spac of dfs on processing.

The only real data point I have is from a different company ionic rare earths who have said for months they expect an update on a cornerstone grant from uk gov in q1.

Interestingly they pitched a plant costing 100m usd. It had been said before mkango had asked for support and I think we must have pitched a much larger operation.

If we let another company pitch a bigger operation to get ahead it would be a massive mistake and I think are management are pretty good.

So I personally hope to hear about gov support and a bigger operation.

Great prospects here but we need to get a sense of stage. This is just a lease. We need to complete the songwe optimisation before you know the economics and then so a study here.

I will get excited when I see a binding SPAC agreement and people putting in cash for development at the suggested market cap.

Also when we here on grants and larger plans in uk and Europe. If ionic are talking a out a 100m+ usd investment I see no reason why we would not want to steal their fire.

Lots of steps still required and I will be much happier when I see come production and supply agreements.

It is widely quoted that China uses vat and other methods to subsidise rare earths.

Is it about time europe also puts tarrifs on magnets. America will have 37pct from next year!

So this is taking more land, or just renegotiating the existing terms.

I think the former

Ionic Rare Earths Ltd

ASX: IXR

I think it is Inferior. If you check the projects mka have been involved with there are really big names. Such as gkn, they work with 90pct of auto manufacturers. Drive systems for 50pct of autos.

Sadly mk fail to realise when they say the names on calls that they are not household names. If they said oh, these are some of the biggest car part suppliers in the world.

Anyway. Their communication style is my biggest worry about them. That and their business acumen.

If they told the story better the share price would be much higher!. Lowest cost producer in a multi billion industry comes to mind!

I would also say we are actually producing a superior product. It is green without security risks.

The question is not just about growing demand, it really is why would you not want to substitute this product.

If we start to make money I would love to see a strong development of long loop or even maybe a strategic tie up with ionic materials.

Ionic are going after Brazil and an MOU with a south Korean company. Combining would give us a full suite offering and give a great global footprint

Fevertree man

Another interesting idea is that magnets had a 2.5pct tariff, trump added 10pct taking us to 12.5pct now.

Biden also scheduled a 25pct tarriff for 2026. Often they just stack them so we could have a tariff of 37.5pct already in the usa where our biggest market is.

If you take the dfs price 55. Factor it for a 10pct increase in spot since that date and then add in a 37pct tarriff you are getting close to the upper scenario of a 500m npv in usa

Having seen a few companies commercialise, zincox for example being a disaster. They had a huge jump in scale.

I believe there we are just using a vessel that is around 3.5 times larger. So it is not the same as say going from the lab to a blast furnace scale.

Given that most of the capital is sunk for uk and Germany, hopefully the grants will help out with other cash flow requirements.

There is still alot to do here, but if we can show it works even on 1 shift then you have build a brand new business. Not something to be sniffed at.

Fevertreeman

The points about commercialising tech are valid.

When I view this proposition I ask.

1. Will it be great if it works. Yes

2. What is my downside. Given that the minimum value for a SPAC is 55m usd that implies you get the recycling for free

I view this as a call option stock and do not worry about the practical side because at todays price I pay 0 for it

I would ignore me for a day or 2 :)

Having some problems seeing lots of things clearly today, need to kick myself back in to line

Barrick CEO is saying how gold is become reserve currency for Central banks.

I believe central banks will continue to buy gold, maybe in part as a protest vs holding USD given trumps antics.

I find myself second guessing myself as to what is the discount on our NPV from being an earlier stage project. Hopefully the company can issue SOC soon and put me out of my misery.

I believe we are looking at 1bn+ usd but find my though process a bit stuck at a critical time

Myles

It might be worth mentioning the tarriffs.

Trump added 10pct now, biden had a 25pct rate set to start next year. If you stack both of these we are at circa 35pct above spot.

I think it was only 4 days then he is on leave.

So today is probably last day

I would have thought after SOC is released as well

The issue is the CEO has not updated the market on what determines its release. As ever if there is uncertainty the stock gets played around with.

I am just ignoring it as much as I can as in few months the whole saga will be done.

If a raise is pre SOC I would imagine it is a smaller one.

Fair play if people sell and get lucky with the rebuy.

We know there is a funding requirement. If there is a placing then just do it and enough to get us to the trial.

Sometimes people feel annoyed if it happens but any person following knows this. Clear out the only negative thing (IMHO) and then we can get on with business