Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
CJ - ah I didn't know that/didn't clock it. Fired then. In that case new CEO search is 3-6 months. So far seems to be ok as we got the DS update. Pretty sure what we are waiting for is currently underway so just have to wait for the license and so on.
Yayay - that's also why I think troy must have given notice so that they could have started the search, however in that case being informed on 27th December he resigned is an outright lie. OR literally he had some form of contract that expired end of 2023 and he elected not to renew as maybe the rest of the board didn't vote him his options or the package he wanted to in order to stay. Really hard to say what happened. I think more likely the latter not the former as CEO resigning (even if 3-6 months in advance) is RNSable.
Big question here is just how many of the 166m shares have been forward sold. If all of them have been then this is good news. If there is still an overhang then we could drop lower as they are sold (counterintuitively). I am not sure I can be bothered going back through and checking each and every unknown trade for the past 2-3 weeks.
GLA
I guess I'm waiting for the management board update which surely should be well past completion and mostly within BoD control, or mining license which, to be fair, is not in the BoDs control at this point.
Forgot about this:
"▪ HyProMag HPMS technology selected as an MSP project
▪ MSP (est 2022) consists of 14 governments, including UK and USA
▪ MSP aims to ensure adequate supplies of minerals such as rare earths to meet net zero carbon goals
▪ MSP regards resilient supply chains to be critically important for an equitable and sustainable energy transition
▪ MSP aims to catalyse public and private sector investment in responsible critical mineral supply chains globally."
GLA
Agreed - primarily I thought that was to get the facility over the line plus the expansion into the recycling. You'd think they would have done it back in November after the interims, or even in early january if MDA not signed by end of 2023. So for me it isn't clear that it is currently necessary. I'd need to see recycling production (which should cover general outgoings of the whole company once commerical at 100t/year - but that is tricky as we don't quite know (i dont think) exactly what magents are being created (price depends on strength and type). Depends on incoming i should think.
https://www.metal.com/price/Rare-Earth/Rare-Earth-Magnets
looking at CNY120-380 divide 9 GBPCNY (about 9 CNY/GBP) is about 13.3-42GBP/kilo
at 20t/yr (1.67t/month) this is GBP22,000-GBP70,000 per month
at 100t/yr (8.33t/month) this is GBP111000-GBP350,000 per month
minus opex. maybe opex equal price scrap recyclers pay to get it recycled.
Short term goal is to get that facililty up and running and an interim update on that would be welcome in my view. Aim is to start at 20t/y vols then in a matter of weeks/couple of months ramp up to 100t/yr volumes. By Q2 2024 I expect the I expect 50k odd and by Q3 around 250k a month.
Traady
Right. soo.... we knew all of this back in November. It isn't a surprise. Should be enough until end H1 assuming no sales from birmingham and no cash injection from JV partner. Dont forget on all of this we were expecting the MDA by the end of the year at the latest. But this company isn't just Songwe it is the recycling tech of which we have a serious JV with COTEC for (which wasn't known about at the time of the 30 sep interims).
GLA
LWHL - no company does what you are proposing, absolutely no company. UNLESS it happens in a single day which it hasn't. Mining, RE metal prices (and raw) are highly affected by chinese production and the general global trend. Being able to recycle this material is a key step and I think why MKA will prove to be a success.
If you want to know why the likely reason of recent declines then you can look at these:
https://strategicmetalsinvest.com/terbium-prices/
https://strategicmetalsinvest.com/neodymium-prices/
https://strategicmetalsinvest.com/dysprosium-prices/
https://strategicmetalsinvest.com/praseodymium-prices/
which are not yet related to the company but we are in the 'Rare Earth' bucket for investors and so get affected by macro/sector effects.
GLA
LewisW - I guess in mining "regular" can be at seldom as every 6 months! With Hypromag and building a facility then I would think every few months increasing until fully at production then noise for that facility will reduce because it'll then just be a nice profit line in the P&L. More facilities more news.
Looking at the last year or two we've had decent news at least every couple of months. So I think at this stage I would expect to hear something every couple of months. March 3rd would be 2 months since last news.
CristalB - I don't think LewisW was directing that at you, I read it as more in general. I know you've been here a while and your posts have been balanced - that's why history here is useful!.
I agree Bonker, this is so artifical it stinks
LWHL - this is why I want to be kept up to date with the processing plant and progress there. MDA is out of our hands but surely progressing that at pace so we can get a significant income stream going is best.
Alternative to a raise of course, which you may know, is that we may bargain some small % of the JV away to COTEC for some funds. I believe we (this BB) also covered this topic a few months ago if I recall.
Such low volume and yet dropped 20% in a few days (6.25ish to now 5.25ish). Just not going to get spooked as that is ridiculous.
Well Songwe MDA really is out of our hands. All in the hands of Malawi. I'm checking google daily for any news articles(!) but nothing to suggest it will fail. Why would it? Who else will get that mine up and running. Certainly won't be Malawi.
Got an update on COTEC 3rd Jan - all good there.
Would like an update to confirm end of commission of infrastructure for the Birmingham plant to progressing to commercial volumes (to start at 20t/yr vols sometime Q2 2024 moving to 100t/yr vols Q3 2024), and progress on Germany Hypromag facility and the Polish Songwe concentrate processing plant, and progress on US Hypromag facility.
Not looking at any other mines MKA have because best to focus on one thing at a time
In the scheme of things things should be progressing but we can't really shout for news. I am not going to capitulate there is too much going for it.
GLA
TraadyL - fair point. guess wouldn't be a quarterly as would be a year end. Tuesday 2nd May 2023 was the 2022. I guess that also included the jan-mar quarter update as well.
But I'd like to state that AVCT is NOTHING like MKA. do we have a Phase 2 clinical trial to fund? No. No we don't.
Silvermaple - 9 posts in the last 30 days only on MKA. Filtered.
SuperRoty
Posted in: MKA
Posts: 6,272
Price: 6.70
No Opinion
Rutile Results15 Feb 2024 10:28
Not invested here at the moment but I cannot see any communication from the Board regarding the results of the rutile samples that were sent for analysis in Dec 2020.
Not invested. Negative bias. Nothing of note posted. Filtered.
Roty - lol that old chestnut "I hope i am wrong". yes, yes, you are. It looks nothing like forward selling of placing shares. Check out the L2 of hemo that last 3 weeks and you will see the difference. all the forward selling at as unknowns and not as buy/sell.