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Pure speculation but the Lockheed Martin connection clearly stands out. Could CoTec/MKA be looking to marry up HyProMag directly to US defense companies? ie they buy the tech to have in-house? Huge potential. Seems the Vice Admiral is incredibly well connected across industry and policy making
Https://www.accesswire.com/838731/cotec-holdings-corp-appoints-retired-vice-admiral-robert-harward-as-non-executive-director
And the Vice Admiral's Wikipedia page:
https://en.m.wikipedia.org/wiki/Robert_Harward
The rutile results continue to puzzle me. I emailed the company early last year specifically about them but received no reply and I submitted a question about them for the July Q&A session last year. I thought the short one line reply by Alexander Lemon that they're not being focused on was really looking to shut down any discussion of it. Particularly odd in light of Sovereign's deposit literally nextdoor and rumours that circulated online last year from in-country that the Mkango find was very large, possibly on par with Sovereign's. I'm trying to find my notes on it but I seem to recall the claim was made by someone in Malawi with a link to metallurgy.
I'm left with the impression that things have happened in the background that are yet to be announced
Good to see HyProMag named and detailed on the US State Department website.
Text is the same as the UK government press release but worth highlighting again in relation to HyProMag having its name in lights:
'the MSP partners confirmed they are working to advance the following projects...and are collaborating with relevant governmental or financial agencies of MSP partners'.
https://www.state.gov/joint-statement-on-the-minerals-security-partnership-announce-support-for-mining-processing-and-recycling-projects/
Jose W. Fernandez, United States Under Secretary of State for Economic Growth, Energy, and the Environment, attends a reception in London, hosted by Critical Minerals Alliance and sponsored by Mkango Resources...
https://twitter.com/CMIA_alliance/status/1710321075903439283?t=1d3anokh-oSTq8TXu9bgiA&s=19
I seem to recall a rumour/indication that the sticking point is the Malawian government wanting a 10% royalty rate on the mine in the deal as opposed to, I think, Mkango's 3% offer. That would fit with talk of the 'last few points' of the MDA negotiations and almost being completed etc
Unless I've overlooked something there's been no update since the RNS 3rd December 2020 announcing the end of the exploration programme: "All samples have now been transported...(to)..Scientific Services in Cape Town, South Africa...detailed mineralogical analysis will take place. The Company looks forward to updating the market further once it has received and evaluated the assay and mineralogical results."
Obviously the pandemic would have slowed things down but I've emailed the company on the rutile results issue and received no response. Has anyone else? Strange that they seem to be sitting on the results with Sovereign Metals' discovery right nextdoor
Interesting to note (judging by her Twitter) that the UK High Commissioner has only been in post a few days, making this one of her first engagements. Potentially indicates some significance...?
Resilience for the future: The UK’s critical minerals strategy
Published by HM Gov today, includes a mention on MKA's very own HyProMag
'Hypromag, a spin-out of this work, has developed an effective way of extracting rare earth magnets for recycling from end-of-life waste streams, such as hard disk drives, using patented Hydrogen Processing of Magnet Scrap technology, and is working to achieve this at an industrial scale.'
https://www.gov.uk/government/publications/uk-critical-mineral-strategy/resilience-for-the-future-the-uks-critical-minerals-strategy
Via Slasher81 on Twitter...
https://times.mw/government-advances-on-mining-deals/?amp=1
It's not unique, merely self deprecating and there's an entire thesis available about it online which may offer a positive interpretation of the minister's comments ;)
https://www.academia.edu/38583734/A_Country_Laughing_at_Itself_Malawian_Humour_in_the_Digital_Age
The interview yesterday was very upbeat and indicated all parties (including international angles with the UK/EU/US) are pulling together. I should imagine doing business in Malawi in general can be slow at times but on the 'joke' comment by the minister: perhaps it could be interpreted in a positive way, in that he saw the names of the international banks now involved and thought 'Golly, surely this be a prank?' Malawian humour is known to be self deprecating.
"Mr Sewell joined Mkango's President, Alex Lemon, and CEO, Will Dawes, in Malawi this week as they met with major international development and commercial bank teams visiting the Songwe Hill Rare Earths Project ("Songwe Hill") in Malawi. The results of the feasibility study for Songwe Hill will be released by the Company next week."
Interesting!
Tweet by former Malawi High Commissioner to UK, meeting with MKA and citing "more positive developments"
https://twitter.com/KenaMphonda/status/1526891720285294593?t=2kFN51yamAEG9IGDJ1xx5Q&s=19
https://twitter.com/MkangoResources/status/1524657840387936256?t=DfFa3XWvEbskSTAt1Z_8IA&s=19
https://www.mwnation.com/govt-moves-on-mining-ventures%ef%bf%bc/
Really interesting article on Sovereign's Kasiya license huge rutile deposit, nextdoor to MKA's own rutile deposit. Mkango gets a name check too. Very much worth a read.
https://www.thisismoney.co.uk/money/investing/article-10611667/SMALL-CAP-MOVERS-Sovereign-Metals-worlds-largest-rutile-deposit.html
Very interesting read from Proactive Investors this morning: Sovereign Metals joins UK Critical Minerals Association. Spells out the worldwide strategic importance of Sovereign’s Kasiya rutile project in Malawi that is right next door to Mkango's own rutile find
https://www.proactiveinvestors.co.uk/companies/news/976336/sovereign-metals-joins-uk-critical-minerals-association-976336.html
I think the upgrade to local roads and bridges by the Malawi Road Authority could add further weight to a buyout/deal having been done. I can't see the Malawian government being willing to spend funds without knowing exactly how things are being financed (and presumably if MKA had financed the upgrades they'd need to release that as news to shareholders). At the end of the day Malawi hasn't got the money to upgrade infrastructure based on possible outcomes and promises.
On a similar note I'm assuming the fabled rutile results have long been under an NDA for a buyer, possibly with US connections given rutile's importance