Member Info for GLR1990

So right now they have a $2m loan to see them through to closing the bond
RF will receive 4% plus warrants at 42p for the 3 month loan, so in the short term there really isn't any concern, but IF the loan is extended beyond the 3 months, that's when it gets nasty? Correct me if wrong?

So, in theory, a lot of good can and should come from this in the next 3 months, but the risk ofc if it doesn't has now increased considerably

Suppose the Q is do you trust management and I've always thought they are a good bunch, so ill back them to get this closed in 3 months and propel the SP towards those warrant prices

Yep he is one of the best, Cotec will be his biggest success yet and his swan song
The rest of the team are pretty big hitters as well, Braam, Geno and Tom, all served at the highest level in the billion dollar market cap regions (Rio, Anglo etc.)

Dont worry guys it is what it is, we have bear markets and bull markets, sure I would love to sell the top of a bull market an d buy the bottom of the bear market every time but its never going to happen, we will all (hopefully) be thanking the market for these prices in due course, I still recall the days when we dropped to 2.75p ask, if only I added more back then (100K shares for £2750 anyone!)

We know we have something special here, we have two plants fully funded with a total funding value in excess of £12m GBP, we own 49% and 66% of that
We have great team / partner in Cotec, we are fully funded thanks to the raise and closure of the cotec deal (£3.5m and £1.5m) and we have an asset with a NPV of $559m give or take, even if we sold that for 5% of NPV it would cover our current market cap (and that would be absurd) as we have spoken about on here, once the MDA lands then we will likely look to cash in hopefully for 20% of NPV or thereabouts (~$100m USD) but even half of that is a 2x on todays SP, with no value attributed to Maginito

The future is good here, even if the short term valuation is a bit depressing

Completely agree

Malawi govt stalled for 9 months so we ran out of cash waiting, had to raise at 12.5p but not for working capital but to fully fund the German plant and access the 3.7m euro grant
hands were tied so to speak, do you keep waiting for the MDA which never lands, or make sure your technology is funded and out there whilst competition is minimal (and we are likely one of the current market leaders)
Plus the dilution was only 10% of the group, a small price to pay in the longer term, albeit still frustrating
Our cornerstone project is Songwe hill, at todays cap valued maybe at 1-3% of NPV when you discount all our other assets, including Maginito
So, as frustrating as the placing was, and the current valuation given to us by market, the truth of the matter is we are in a much better position technology wise than we have ever been, and we have incredible partners with a vast amount of top level elite experience
Songwe at todays valuation is a bonus, hopefully the MDA lands in due course, and we can sell the asset for a good price (10% of NPV minimum) then we can look at funding more projects around the world, whether that is HPMS, taking 100% of HyProMag, or alternate ventures in the US

The future is truly fantastic here, the market will realise all this in the next 12 months

Well today is the day to close out the Cotec deal
Hoping for a detailed update on US plans but may just get 'transaction closed, £1.5m etc.'

We will see, regardless exciting times (outside of the MDA)

Even a broken clock is right twice a day
Lets hope its this month and they don't stall further
After this I am completing avoiding investing in anything of any operation certain territories, which is a real shame as I always had Malawi down as a great place to operate, but this has completely tarnished my once very positive view

has to be done this month surely, I can't wait until the asset is sold or moved on

In the Cotec presentation, JT said he would be in Tokyo Japan 'Next Week' to discuss potential for a RE recycling plant, so I decided to do some digging to see what the market was like in Japan

Only two days ago this article was posted
https://asia.nikkei.com/Business/Materials/G-7-eyes-joint-effort-to-turn-e-waste-into-rare-earths-other-metals

'To mitigate potential risks to economic security, the G-7 is looking to work together on collecting e-waste and turning it into a source of rare metals. G-7 members are estimated to produce 20 kilograms of e-waste per capita per year.'

And take a look at this piece of legislation I knew nothing about

A framework for smoother cross-border transfer of waste is also in the works. In 2025, an updated Basel Convention concerning electronic waste will enter into force. The provisions will place restrictions on the transfer of hazardous e-waste, such as those containing lead or ****nic, as well as potentially explosive waste.

In summary, in 2025 these RE plants can turn a huge liability into an asset - ewaste

'During a trip to Washington in January, Yasutoshi Nishimura, Japan's minister for economy, trade and industry, called for a new "network" for recycling rare metals with U.S. and Europe'

Might be an RNS today or Monday

https://www.accesswire.com/743045/CoTec-Holdings-Corp-Announces-Closing-of-Non-Brokered-Private-Placement

Pursuant to the Closing, the Corporation issued 7,153,210 Units for gross proceeds of $3,576,605. The Corporation will use the gross proceeds of the Private Placement to fund investment commitments and for general working capital purposes.

In regards to

£1,500,000 Maginito Investment

CoTec has agreed to subscribe for shares in Maginito ("Maginito Shares"), equivalent to a post-issuance 10% equity stake, for an investment of £1.5 million (C$2,466,900) with a closing date not later than 15th March 2023.

Been reviewing this over the weekend and really impressed
It's quite a conservative stock IMHO so I dont expect huge overnight SP increases, but a steady move north to 30p+ in the next 3-6 months seems very likely (80% COS)

The company has a very exciting drill campaign each which could add 3-500+ bopd, should all hit in the high range then the SP would have to at least double from here in the short term, 20% decline rate was the quote? Either way payback of 6-7 months per well, that's huge FCF and they appear to have lots of avenues for further revenue streams maybe acquiring older or smaller plays from larger operators, CEO appears top notch to me and they appear to have a great team in place, will continue to add should it trade sub 20p in the coming weeks/months

Got it, just watched the interview but all the info is in the 1st Feb RNS
Gutted I never got some here earlier, management look top class
Wouldn't worry about the warrants yes they are a short term drag but they add cash in the bank and all good companies go through a warrant conversion period, in my experience this is something that should be viewed as a success

What's the timeframe for the rest of the wells? RCE4 spudding next week?

Has to be one of the worst deramps of all time that, simple check on the RNS feed would have clearly shown that a placing has already taken place, it's also pre-revenue lol

in other news cotec have raised a bit more dosh
https://www.digitaljournal.com/pr/news/cotec-holdings-corp-announces-non-brokered-private-placement

Brilliant!

I took a screenshot of it pure coincidence, was impressed by their tweets

Will Pencil 2063 in for the MDA and if it lands earlier, ill take it as a bonus :-P
Focus should well and truly now be on proving and scaling the recycling tech, using any proceeds we can get from operations or sales in Malawi

Seems like we have settled at 13p for now

I agree with Myles comments that we should seriously consider an FSP for Songwe, the current market attributable value is ~£15m GBP which is absolutely absurd, as Myles states a company with twice a larger mine (and further down the road) is trading at $1.3bn, even a tenth of that price for Songwe is not out of the question

I suppose the answer is why not do this beforehand so we didn't have to raise, but we really need the MDA, as per comments in this thread, if an investor wont touch us without an MDA then you can be certain nobody will buy us without an MDA, plus it unlocks astronomical value, much more than the 10% dilution from the placing

Therefore a plan I would be happy with
- FSP songwe for a minimum of £100m GBP (~39p) Obv I think it is worth much more but for the sake of this post being quick and simple lets just go with that, people reading this will think how ridiculous SP is 13p and you are saying 39p for Songwe, but 39p is way below market value, you try buying a mine for less! (look at peers etc.)

We already have the German plant fully funded, and the UK plant, the proceeds would therefore go towards the following:

1. Special dividend to reward LTH and management
2. Scale up US operations and pilot plants globally, with auto manufacturers
3. Co-invest in US RE tech (and above) with Cotec as JV partner (we need to do more with these guys they are truly big players)
4. Rebrand as a RE technology company / critical mineral technology company
5. Take a larger stake in HyProMag (group or subsidiaries)
6. list the group on the NYSE when the market is healthier

The company would revalue post FSP with a serious cash position and focus primarily on NT projects with HyProMag, 2-3 years ago we had to wait years for this but now they are all near term, with UK in H2 2023 and Germany in 2024

Just my musings, probaby change my mind tomorrow but this MDA has dragged on for so long and cost us so much money, I am partly just hoping once we get it we move on and focus on the blue sky tech

WD bought shares yesterday which suggests he feels similar

That is in relation to the Pulawy plant which is est. to cost $120m USD and the Songwe RE project which could cost close to $300m, we have been in discussions regarding funding for these with international and local banks since early last year

· Mkango is continuing to advance discussions with potential lenders and strategic investors for the Songwe Hill Rare Earths Project in Malawi and the Pulawy Separation Project in Poland (the "Projects")

Agree CB

And the timing of it, just after we received £500K from Cotec

Very fortuitous if the MDA lands in the next couple of weeks, and we conclude funding for the project thereafter, for the II's they couldn't have timed it any better...

With that being said, at 13p we have another chance to add shares at a bargain basement level

I am disappointed today I thought this management group were better than 12.5p but the future is extremely positive, management need to win our confidence back and I am sure they will

VANCOUVER, BC / ACCESSWIRE / February 2, 2023 / CoTec Holdings Corp.
CTH
(the "Corporation") is pleased to announce that it has completed a third closing (the "Closing") of its previously announced non-brokered private placement of units (each, a "Unit") at a price of $0.50 per Unit (the "Private Placement"). Each Unit consists of one common share in the capital of the Corporation (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.75 for a period of 12 months following the issuance of the Units.

Pursuant to the Closing, the Corporation issued 5,069,796 Units for gross proceeds of $2,534,898, resulting in an aggregate total of 8,984,904 Units issued in the Private Placement for aggregate gross proceeds of $4,492,452. The Corporation has used and will use the gross proceeds of the Private Placement to fund investment commitments, to repay amounts owing to Kings Chapel (as defined below) and for working capital purposes.

Insiders of the Corporation participated in the Private Placement and purchased an aggregate of 8,271,448 Units for gross proceeds of $4,135,724. As a result, the Private Placement is a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Private Placement is exempt from the formal valuation requirements of MI 61-101 pursuant to subsection 5.5(b) of MI-61-101 because the Common Shares are listed only on the TSX Venture Exchange (the "TSXV") and is exempt from the minority shareholder approval requirements of MI 61-101 pursuant to subsection 5.5(a) of MI 61-101 because neither the fair market value of the Units to be issued to related parties nor the consideration to be paid by related parties pursuant to the Private Placement is expected to exceed 25% of the Corporation's market capitalization as determined in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the expected date of the Initial Closing as the participation therein by related parties was not settled until shortly prior to the closing of the Offering.

All securities issued to Canadian investors in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.

GLR - Should be enough to pay the £1.5m for HyProMag?

https://www.benzinga.com/pressreleases/23/02/ac30685105/cotec-holdings-corp-announces-third-closing-of-non-brokered-private-placement