Member Info for SquirtyFlower

They've got buy orders to fill at these levels and lower so they will try to grind potential sellers down into giving up their shares.

MMs also know today is Friday and so traders will be looking to exit positions ahead of weekend so MMs will be looking to pick up their shares on the cheap. They also know the weather is hot, tennis and cricket are on, and school hols are starting more and more so folks will be distracted and easier marks for their games.

SG - I suspect much of this post is AI generated, but it doesn't explain the NTs.

Reason 1: if this was true why could the shares be traded freely last week and earlier this week?

Reason 2: this is just wrong. MKA is not delisting on AIM and moving to the Nasdaq. The SPAC is a separate company.

Reason 3: similar to reason 1. Nothing has changed since last week or earlier this week.

Bit surprised our SP hasn't reacted more positively to this. I appreciate it's MP' s contract not ours, but the demand and pricing implications still cut through to MKA/Cotec business case.

And maybe Cohen & Co had an inkling of these sorts of prices in preparing the BCA valuation......

The great thing is that we won't have that long to wait to discover whether PP or Cohen is correct. As the SPAC listing approaches, further doc to support the valuation and the economics of the mine plus processing will need to be published and, ultimately, the market will decide whether the listing valuation is accurate. Personally I doubt Cohen will risk their reputation by concluding a BCA that was grossly over-optimistic, but we will see within 6 months.

Is it really that difficult to read through the RNS issues over the last couple of years, to read the latest corporate presentation on the company website, and to read back though the posts on here over the last week or so ( there's some nonsense to skim over, but there's a lot of good stuff too)? If you're too lazy to do that and expect to be spoon-fed instead then perhaps investing in shares isn't for you.

They've said on multiple occasions that their phones are ringing off the wall with enquiries so potential suppliers and customers and their intermediaries know exactly who they are. They have lots of govt contacts eg. embassy visits to Songwe, EU project status. They have direct access to major movers and shakers in this arena such as Cohen and Co and Daniel Mamadou. Cotec has contacts into US govt and getting govt funding from Exim. Tyseley only has limited capacity at the moment and they have growth plans, so there is no issue with willing customers being out there. You can be sure the Pforzheim plant will be similarly inundated with demand so, if anything, the issue more likely to be too much demand for current capacity growth plans.

Therefore what good will more publicity really do? Doris in Tesco doesn't need to read about them in the Sun or hear about them on the Beeb. IIs will be looking at them and talking to the BOD e.g the SPAC will have caught the eye, but will have their investment rules e.g some may need mcap to be over £100m for 3 months before they consider it investable rather than the few days at best it currently has. Therefore I really don't think PR is the issue. PR will also bring it's own difficulties like having to explain how we're really so environmentally friendly digging a dirty great hole in the African soil and transporting mine output halfway round the world to Poland for processing.

Here's a link to the BBC article. While MKA recycling capacity can't fully replace China's production it certainly helps and articles like this give Will and the team the easiest sales pitch imaginable both to governments and industries needing REEs. On the other hand, it won't help the MKAR listing pitch as it will cause questions about the environmental damage that will occur. Appreciate that money and need talk in the end, but it will create some questions to be asked. In many ways this also helps to explain why MKAR is being separated out.

https://www.bbc.co.uk/news/resources/idt-66cdf862-5e96-4e6e-90b8-a407b597c8d9

MKA is not moving to the Nasdaq. The Songwe and Pulawy mining and processing are being moved to a separate company and listed via the SPAC process. The rest of MKA will remain on AIM until/unless something changes. MKA will hold $400m worth of shares in the MKAR business but it is otherwise separate from MKA.

An update from Myles on this capacity expansion:

https://x.com/mylesmcnulty/status/1941777022411219080?s=46&t=6L3i5L2B0LVcI0QnNB2C4A

As I've said before a lowball offer would be rejected by the BOD and would attract rival bids. Why would the BOD work so hard and skillfully over a decade to bring multiple projects to the cusp of fruition just to chuck it away on a lowball? Plenty of others out there in the US (you can bet Cohen & co will have contacts, certainly COTEC will, Daniel Mamadou and others) would not let this go cheap without a fight. Talaxis only own 22%. If the BOD and other large shareholders fight them on a takeover and side with another well-backed bid then Vitol would struggle to succeed without substantially raising their bid.

Equally if someone else came in with a lowball then Talaxis/BOD could easily fight them off given their joint holdings.

Regardless of the shares in issue error, the calculations still highlight why Vitol haven't made a bid so far (although if they are behind the share price shenanigans over the past month or so this may soon change). At the moment they're probably happy with the way things are. They control 22% and the BOD and 4 other large shareholders control a similar amount. If they want to takeover then they'd have to pitch an offer at a sufficiently high price that the BOD+4 are willing to accept (which is clearly £2+ and probably quite a bit higher still) or they will have to go hostile. This would just hack the BOD off, flush out rival bids which the BOD+4 might then recommend. Therefore why go through all this when they can work with the BOD (maybe take a seat on the board) and grow the business value? A supportive relationship between Talaxis/Vitol (as it has been so far) that controls nearly 45% of the shares isn't going to take out by anyone else so why mess with it?

Ultimately we may not be able to resist a t/o offer, but I strongly doubt we would only get one offer. Clearly Vitol have an initial advantage in that they control Talaxis 21% existing stake, but there will be others very interested so we would get counter bids (in fact, Vitol may just use their stake to flush out a bidding war with a view to selling their stake to the highest bidder). Therefore whether MKA can resist a t/o or not, I'm very confident that we won't get taken out for some low ball offer that leaves PIs feeling robbed.... though I'd really prefer to see MKA remain independent and grow to become a huge success story on its own.

Superb find Floyd! Given the who's who named in there and the fact they want to invest in Europe, I'd be staggered if MKA isn't front and centre of their radar screen.

Less free float than that in reality as there are a number of PIs with substantial holdings (1 million plus shares) that won't be available any time soon.

Agree, esduk, the total disconnect between the MKA share price and the MKAR value (as well as the total lack of recognition of the Maginito value in the share price) makes the need for action inevitable....whether that is a voluntary move off AIM or being taken out by a bigger fish. I was answering the original comment by another poster who appeared to suggest that yesterday's RNS was about MKA being off AIM in 4q25.

Yesterday's RNS was not about MKA moving off AIM. It was about the Lancaster and Pulawy assets being broken out into a separate listing on NASDAQ. The AIM listed business will remain and consist of the Maginito/recycling parts of the business plus the $400m shareholding in the Nasdaq business.

The recycling is worth a lot more than 200 million. Start at a billion for that alone and even that is probably a serious underestimate.

Bengot - think you need to get down to ASDA asap. I hear they're selling extra bitter lemons for 5p/kg......