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Unless the fundamentals change MKA will be fine. After a 60% move up profit taking is normal lol. Just sit back, enjoy the ride and sell when you've reached your target. This will be moving much higher so imo so I wouldn't be selling anytime soon but always stick your goals 👍

HYPROMAG USA COMMENCES PROCESS TO APPOINT EPCM PROVIDER FOR RARE EARTH MAGNET RECYCLING AND MANUFACTURING PROJECT

LONDON, UK AND VANCOUVER, BC / ACCESSWIRE / December 5, 2024 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec") and Mkango Resources Ltd. (AIM:MKA)(TSXV:MKA) ("Mkango") are pleased to announce the initiation of a "Request for Proposal" process from leading Engineering, Procurement and Construction Management ("EPCM") providers to complete the detailed engineering design, procurement and construction management phase for HyProMag USA LLC. ("HyProMag USA") state-of-the-art rare earth magnet recycling and manufacturing project in the United States (the "Project").

The results of the positive feasibility study for the Project were announced on November 25, 2024, which can be accessed via the following link: https://hypromagusa.com/hypromag-usa-feasibility-study-demonstrates-robust-economics-and-the-opportunity-to-develop-a-major-new-domestic-source-of-recycled-rare-earths-magnets-for-the-united-states/

The detailed engineering design phase will include the completion of sufficient engineering design works to support development of the AACE[1] Class 1 capital cost estimate to update that of the Feasibility Study. This will also support the final site selection efforts which are to be completed in H1 2025 and allow the commencement of site permitting in line with the initial project schedule. This targets initial revenue in Q1 2027.

Following completion of the detailed engineering design phase, a decision is expected to be taken mid-2025 as to whether HyProMag USA will proceed with the final procurement and construction of the Project (the "Notice to Proceed ").

Julian Treger, CoTec CEO commented:"Following the successful completion of the independent Feasibility Study,we are looking forward to working with leading EPCM providers to build these facilities. The detailed engineering design phase is expected to deliver further cost savings and design improvements which should enhance the Project's metrics. The company is now focused on working with its stakeholders and potential partners in securing funding from the U.S. Government, financing, off-take and feed supply. The end-to-end process of recycling end-of-life NdFeB magnets into new sintered NdFeB magnets is supported by the Minerals Security Partnership2 which aims to accelerate the development of secure, diverse, and sustainable supply chains for critical minerals."

Will Dawes, Mkango CEO commented: "Momentum continues on the Project following the positive results from the feasibility study announced last week, and we are very excited to be pushing forward with the EPCM selection process. This important Project will help catalyze further development of a robust domestic ecosystem for rare earth magnet recycling and manufacturing in the United States, and will be underpinned by rigorous design and engineering standards. We look forward to working with the Project

Yeah the actual ban wasn't a surprise to the markets. If people actually looked up the the recently banned ree's they'd know China stopped exporting them to the US for awhile.

The actual important info for us (as pointed out by the Cotec Holdings CEO) is the US 25% tariff on Chinese permanent magnets that'll start in 2026. Hypromag US comes online in 2027 so expect almost guaranteed higher prices moving forward.

This guy's on the Cotec Board. He's probably has the DoD connections:

Robert (Bob) Harward

NON-EXECUTIVE DIRECTOR

Bob Harward is a retired United States Navy Vice Admiral (SEAL) and a former Deputy Commander of the United States Central Command, he served on the US National Security Council in The White House and led several multi-national special forces commands in Afghanistan and Iraq. He joined Lockheed Martin in 2014 as their Chief Executive in the UAE and expanded his responsibilities to cover the Middle East, leaving to join Shield AI as Executive Vice President for International Business Development and Strategy based in the UAE.

I had the same thought too but ultimately they won't make much of a difference. The demand for "green tech" may or may not decrease but the real issue is that REEs are strategic. From defense to AI the applications are too important to allow China to have be the main source of it so diversification of the supply for the west is critical .

The current CEO of Cotec wrote an article for the Telegraph about this back in 2019 called "There is no time to waste in the race for rare earth metals"

Also a very recent article from Reuters titled "US targets scrap to close the critical minerals gap" will show you the kind of funding REE recycling projects get.

A search on those two pieces may provide some counter arguments to your thoughts. I'm not saying I'm 100% right but they're both worth checking out for a solid assessment on the REE situation and the potential for the recycling market.

Links are removed but you can look up a 2023 press release called "Mkango Subsidiary, Maginito, and CoTec Form US Joint Venture" and a YouTube vid called "Cotec provides market update" uploaded 2 days ago. They talk a lot about the US Hypromag JV

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2023 press release

CoTec will fund the initial operations of the Joint Venture, including the costs of the Feasibility Study. If the Joint Venture proceeds with the construction of the US Project, CoTec will also be responsible for funding all the development costs of the US Project, with a total expected funding of £30 million to £50 million during the first three years post completion of the Feasibility Study, subject to results of the Feasibility Study. All funding provided by CoTec would be in the form of shareholder loans. CoTec and Mkango also expect that the Joint Venture will seek US government funding for the US Project.

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Mkango will pay back their share of the financing later

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