Member Info for velcrofajita

Esduk, yes agreed the funding will come to Poland internally from the EU coffers, but all announcements and schemes will be Polish incentive schemes. I do not see a better alternative to KUKE guaranteed export financing when it comes to the debt portion of the Pulawy funding. I have first hand seen that this is more competitive with longer tenors than anything that EBRD, EIB, IFC etc can come up with. Also lender likely to be one of the two large state owned Polish banks, PKO BP or Pekao. Of course all IMO and things could turn out different

EU will not refer to this, it will be a Polish issue, with the blessing of EU that it is an approved state support. The toughest part will be the environmental approvals but Poland is still ok on these time lines unlike other places in Europe where it can take up to 5 years (Austria, germany etc...)

Flundra on Pulawy there may be a grant or multi year tax incentives or most likely a combination of both. Financing I see a KUKE (Polish EXIM) guaranteed long term financing at very competitive total finance costs (guarantee fee plus interest margin). I have in 2025 negotiated two such financings for tenors of 17 years each.

I also like Poland, still has the entrepreneurial spirit that allot of Western Europe has lost.

Was looking to get into SVML, as I like the long term story there very much. Up 30% today on news so I missed that

I am looking for tier 1 undeveloped deposits (or potential tier 1) or key technology as is the case with Hypromag.

Kat, to be honest I don't care at all about these short term games, plays, trades whatever one wants to call them. "Stock market is the transfer of wealth from the impatient to the patient".

I am very patient with MKA, also considering possible further top up to my already very large holding, following my significant gain on copper

Https://www.reuters.com/world/asia-pacific/australias-lynas-rare-earths-posts-43-rise-second-quarter-revenue-2026-01-20/

Lynas is the for me the best rare earth company outside o f China and well ahead of the pack. When Lynas says that government policies around the globe have improved the functioning of rare earth markets, resulted in rising prices and improved margins, all REE investors need to take notice.

Lynas also actively seeking US price floors similar to MP.

MKA remains a "hidden Gem" for global investors. Imo a good time retail investors to get in and hold until people wake up to the story here. Two key catalysts will be progress re SPAC and Hypromag US investment / financing decision

On the SPAC I expect that they are having to update the DFS numbers as most things are very different to when t was first done, while also feasibility study is needed for Pulawy and the combined MKAR operation. These things take time

HarChris,

Yes it seems like a a mindless ramp but it is anything but that. Greenland may have huge deposits of critical minerals but to mine them and transport them in those harsh arctic conditions and major ESG obstacles is a mission impossible

MKA for sure does not have the quantity of critical minerals that Greenland has, but it comparatively almost immediate and economical to extract/process/recycle

The more trump beats the America first drum, the more valuable Hypromag and MKAR become. Slowly but surely Europe , UK will understand that they have to take their destiny in their own hands and not rely on free market trading, Western Alliance and best ESG credentials to underpin their future prosperity.

MKA is a bigger near term prize that Greenland when it comes to economic supply of critical minerals

Selling is for me owing to boredom, cash chasing the in thing for the next days after this round of trump tariff madness settled down and he says he had a very good discussion with x and y who are very good people.

The next logical step is that the US and Europe stop exporting their e-waste to South East Asia and Africa. In particular the USA ships out up to 70% of all e-waste and this needs to be legislatively stopped so that the local recycling industries have access to the needed feedstock

I am confident that the Trump administration will be onto this as well.

I got 1/3 in MKA, 1/3 in copper and 1/3 across biotech, US Technology and China Technology

Https://www.businesstimes.com.sg/companies-markets/energy-commodities/australian-rare-earths-miner-vhm-scraps-offtake-deal-chinas-shenghe-resources

I see this as a way forward for Songwe as well. We can be sure that one of the conditions of the EXIM financing is that the Chinese offtake agreement needs to be terminated

Anyone who considers that Songwe/Pulawy cannot be debt financed is singing from an outdated hymn sheet

The problem is to overcome the boredom / lack of fireworks at this stage of the development game. This is where patience and conviction is needed to avoid the mistake to sell out and bet on what is hot right now and then possibly never get the chance to rerun here

MKA is in an in demand sector which underpins technological development, has a ready to build mine and state of the art/best in class recycling technology. I have never held a share that is so undervalued with so much going for it

I expects bet's on recycling expansion following this new tension with China. Unlikely to be Hypromag related

For me this slow but consistent uptick in prices of Ndpr / Ndpr oxide is the big game changer for MKA

With each increase the MKAR mining and separation business becomes more more profitable, drives higher cash generation and increases the likely hood of appropriate financing being secured.

More so, with each increase, Hypromag USA gets a step closer to the huge NPV based on forecast prices

This is an excellent environment to have a relatively near term build out of the mine, refine and recycle business. When key news hots, reaction may well be very explosive

Absolutely agreed

Https://en.wikipedia.org/wiki/Nautilus_Minerals

This is what happened last time seabed deposits were considered to be mined. My view, the Japanese rare earths seabed mining will go the same way as nautilus.

Greenland will be similar

Yes agreed on the complexity

This is why I laugh when I hear of Trump taking Greenland for its rare earths or Japan mining seabed deposits. these things are decades away if they can ever overcome the ESG hurdles on mining, never mind the multitude of factors relating to processing / separation

If the US, Japan, Europe are serious about diversifying the supply chain, they need to invest big time into magnet recycling similarly to what has happened with wood, plastics, glass. On top of this they can consider where new mining and processing facilities can realistically be set up. I do not see Greenland nor Japan

Esduk, In the end it does not matter if full commercial ramp up started Dec 25, Jan 26 or Feb 26. I have seen production site completion delays in years not months over my career so I would say we are in line with start up plans. The exciting part is how they finance the capacity expansions in UK/Germany (maybe an offtake arrangement now that they have proved production capability)

Also not to concerned about the delay in MKAR listing, especially considering that Ndpr oxide prices have resumed a strong uptrend so any feasibility studies / business plans to be released for Pulawy will be able to benefit from higher base prices and a positive trajectory built into the forecasts. Higher pricing power and improving margins are what gets the lenders excited!

With a 38% IRR, on future pricing, all hubs will likely be expanded