Member Info for Gallmat

There is an ongoing debate with myles on X. He was 2nd largest taker of the placing last year.

He seems to think individual investors do not get a share in the spac it will sit within mkango.

He thinks they might just sell down spac shares even if they do not publicly state it, but if that is off-putting to spac investors I think my idea holds.

https://x.com/MylesMcNulty/status/1884247221396181147?t=ysBMML-vy_HotNoCLgXnOQ&s=19

I will see Mr Bolton next week and will ask him to reiterate this comment if he does an interview.

TBH it is the sort of thing you should say consistently and not just once

Nope.

To be honest this price action is stupid. Probably just related to losing queensland power.

If they commented they had insurance for other sides legal costs this would bounce.

No idea what they are thinking. The costs of the case are sunk and they had cash plus a new bigger debt facility.

The ceo said it was 1bn usd + in an interview last year.

I believe he used to value projects as a competent person and also lectured on the subject for the institute. I think he has a good idea where is sits

Also the comment was made last year. The company probably had the valuation sitting on his desk and he has seen it.

That is just a guess by me, but you would not leave such a fundamental step to the last minute. If you hated the valuation you would leave time to commision another one

The company needs to clarify the ownership.

After the spac does each shareholder have

1. Share in mkango ( just recyling)

2. Share in spac

Or do we have 1 share in mkango which holds recycling asset and the listed spac.

The latter seems to solve all the frigging issues.

In this case we can directly sell spac shares. Mka would have less listed securities and more cash

If people do not like the idea of the majority holder of the spac selling shares to others ( cashing out). Then can we do my idea and just issue more mkango shares at a higher price. We just agree to share our holding in spac over more people.

Agghh. Make a damn slide so we know what you are thinking. We might have the solution to every funding issue and they cannot state it!

Assume we have 1 share outstanding

Mka valued at 30m

Now we do spac with value of 120.

Mka should reflect a value of 150

If we doubled our shares, issued another share at 150.

Each share now has

1. 50pct of 150 cash . 75

2. Half a share of the businesses 0.5(30+120). 75

Basically Each holder of mka will get less shares in spac

No, Much simpler

1. LOI is confirmed with good valuation

2. The value of mka shares may rise. It will now reflect recycling business & some part of the SPAC value

3. We can just issue some more mka shares If required from a higher price. The spac news helped boost our value.

If is an indirect method. If we issue more mka shares, each mka share will have a lower percentage of recycling and SPAC. We would have essentially sold some of our interest.

I think I am right.

If you look at the appointment RNS they note 4 transaction. Two have completed and have a stock ticker. The others do not

So there seems to be a period where a valuation is estimated and it is not listed.

The guy who organised the presentation implied some interviews will come. Hopefully they clarify

From the video ithought was agreement to make the SPAC and then there is a lag before listing.

I wrote to the company to complain. They did not make a slide and it causes uneccesary confusion.

They cannot leave issues like funding hanging. It's plain stupid, if we understand how things are planned strategically we can rally hard

I am interested in how selling the shares down works.

Anyone buying the nasdaq listing wants us to develop the mine. If the people leading the project is

It was mentioned that the SPAC is not supposed to help fund the recycling business. I think it can actually help during the most critical ramp up stage.

1. I think the valuation is announced when the LOI becomes binding

2. As the spac is not yet listed, the value will sit within mka until the listing occurs

We can then just sell mka shares to raise money.

Each share will reflect the recycling business and spac value.

It seems pretty good to me

If the spac came in at 100m usd target value, you could see mka being worth 60m usd and raising small bits of cash ( until grants land) would not be that painful.

A new EU project we participate. We really seem to be integrated with Europe's strategy :)

Gives overview

https://www.iswa.org/blog/introducing-the-ibot4crms-project-an-eu-project-on-critical-raw-materials-circularity-in-europe/?v=35b5282113b8

Conforms we participate

https://www.vicesse.eu/ibot4crms

It's a shame they closed the spread bet entry.

If the recycling is profitable it might be something you want to hold for a while. Being able to tap equity for short term positions without selling is quite useful.

They do seem to change the policy now and then

For a long time it was closing only, I randomly noticed a few weeks back They allowed new bets and put on a position.

I think sometimes it is risk management for them. If they have too much They might struggle to unwind if someone cannot meet the margin.

The story really improved here and when I saw They allowed bets I jumped in

Alex did seem confident and thinking bigger on the SPAC.

I actually came away excited more on the recycling. Most major auto companies interested, with interest in feed supply and our product.

If we can land deals with one big company it is a huge signal industry players are behind this.

It can be like a wave, with the tech just being accepted as the normal. Huge Value if that happens

Btw, You can also buy mkango in IG with spread bet. All gains are tax free and you have to commit less capital to establish a position

I see other trades that can match this, but I cannot trade them on margin as spread bet

I am not so concerned on the valuation.

The huge value is in the recycling. Even the minimum nasdaq listing will be the same as the market cap now.

I then get a free shot on recycling which could be a high barrier to entry, High growth, boring business with a good P/E

Whatever we get is fine for SPAC. If we issue for 100usd and sells down to 50usd again no issue.

Once the process Is proven the traders will have less fun here. This will turn Into a story about good profit margins, organic growth and our runway.

Personally I am looking forward to this.

Your welcome.

The guy who posted the video responded to my email.

We might get some more short videos in next few weeks which would be welcome.

A more concise delivery on SPAC and other items would be good ( rather than piecing it together from questions)

Hi

Good evening Mark, the video has now been published on BigMarker, it will also go out on the Share Talk site, our twitter and Youtube.

We will also likely release some shorts over the coming weeks.

Cheers

Simon