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Mkango Res Share Discussion Threads
Showing 251 to 273 of 275 messages
|There were a few excitable posters back last June saying this was going to 10p,20p, here 7 months later,it's still only 3p & change..what happened?|
|Took a large helping of this.
Cheapest REE asset on the market.that includes tsx,asx,lse.
32mt worth $350m and the value on market is £shy of 3m sterling.
other assets to be injected so keep eye on things|
They have been running the whole thing on a shoe string from day 1 and hence why they diluted Canadian shareholders to oblivion. From their Q3 results it was clear that they would need to raise money in the spring, they have taken the opportunity to get some money in early and I do not blame them for doing that, it is the sensible thing to do.
Nothing has really changed, MKA still do not have a partner to fund the BFS. Personally I think they are significantly underestimating how much the BFS will cost. There was very little drilling done for the PFS and much more will be needed before anyone would put up the capital costs for a full mining project.
They have been touting this project around for over 2 years now without any real interest. Maybe Noble can help them find someone, maybe not. Malawi does not have much in the way of mining experience and infrastructure and because the PFS was done to a bare minimum standard there is quite a lot of risk that the BFS will not stack up.
TW and BMD get a bit rabid about MKA. Of course they are going to need to raise relatively small amounts of money to mark time whilst they pray that someone is going to come along with the big money needed to advance the project. Anyone investing here is gambling that someone will come along. They probably have 12 - 18 months to find someone and get cracking on the BFS before the licence becomes in jeopardy and no one wants to know. As whoever does come along will need to put up all the money for the BFS I would expect them to also take a controlling slice of the project. How much reward there would be for MKA shareholders is debatable. On a risk reward basis I do not think MKA is a wise investment. Why anyone would think I need to eat humble pie over that is beyond me.|
|"Complementary to and on the basis of the Agreement, Mkango has raised GBP450,000 (GBP430,125 net of finders' fees) from existing shareholders and new institutional investors."
How long were they saying they didn't need to raise money for 18 months for?
Even at the recent presentation they repeated it, and TW said they would need to do one within months!
And now they have raised it...........|
|Decent review of todays RNS can be found here.
why not the 36% from early on, news warrants it
weak market this (in general)|
|Tidy I was hoping for one from SK with perhaps some humble pie?|
|Comments on today's RNS?|
|Looks like they will run out of money some time after Easter. Placing around March time would be my guess.|
|Bit slow off the mark Dan, already posted on 22 Nov. No wonder you were caught robbing banks if that is how quickly you move.
No surprise that the video edited the questions though. It would have been good to watch them squirm and would have exposed the lies told about you running away.|
Oxfam blow up Mkango Resources.
daniel levi bmd
|Has enough drilling been done already?
From Songwe PFS:
"A total of 38 inclined and vertical diamond drill holes totaling 6,852.28 m have been drilled"
"The 2014 Resource Estimate incorporates a dataset of 19,130 assays a total of 21,037m of drilling over 323 drill holes."
About half of frontier's resource is in the measured category, none of MKA's is in that category.
About a third of frontier's reserves are in the proven category none of MKA's are in the proven category|
|is there a copy of video out yet anywhere|
|The conditions under which the directors get paid include if they manage to raise more money eg though a placing.
The company has a tiny amount of money to see it through 18 months, which is not enough to actually pay directors and not enough to do any work of the project. It will cover Nomad, Broker, PR fees, office rental, Mining Maven ramping events and travel to go an talk to anyone who will listen to a pitch about doing some form of JV. The renewal of the licence may well have brought minimum expenditure conditions which bust the tiny budget. Try asking Will why the extant licence end dates were not included in the admission document and what the conditions on the extended licence are.
In this case directors remuneration is not particularly excessive, unlike a load of AIM lifestyle companies. The company has gone from year to year with an emphasis of matter regarding going concern included in each annual report. They are therefore quire expert at living on a shoestring and diluting shareholders on a regular basis to keep the show on the road. Fundamentally the problem is they started out without the money needed to get the project to the PFS stage. In a number of ways you have to admire the directors for getting this far, they have worked very hard for very little reward, but have lost investors a lot of money in the process.
Ultimately this extract from the admission document speaks volumes:
"At present, only one other mining company in Malawi has secured a full Mining Licence from the Malawian Government and thereby brought a mine into the full production stage."
The Chinese are primarily interested in securing the raw materials China needs. As China is the major exporter of REE this motivation is not there. The Chinese are a nightmare to deal with as there are a whole load of government approvals needed before any money appears. So many of the resource companies I have looked at that have been involved with "the Chinese" have come to grief one way or another.
Having talks and meetings mean nothing, one hopes they are having talks and meetings all the time, though after over 2 years of having talks and meetings it must be getting harder to find people they have not already spoken to who have the deep pockets needed and might be interested in chancing their arm in Malawi. If the talks and meeting were to move to a formally announced due diligence phase and that was with the Chinese, the best thing to do would be to sell on the share price spike. But do not hold your breath for that announcement.|
|None of the bod take a wage plus Will confirmed they have cash by email On 18 Sep 2016, at 15:46, Will Dawes wrote:Dear Xxxx, Thank you for your email. I can assure you that the company is not insolvent. Below is a link to our most recent quarterly report. The MD&A is also on the website. http://www.mkango.ca/i/pdf/fs/Mkango-Jun-30-2016-Financial-Statements-FINAL-WD.pdf Please refer to section 2, Going Concern. As at end of June, working capital surplus of US$559,440. This is calculated as current assets minus current liabilities. Current liabilities are detailed in section 6. Also, as stated in the quarterly: "At the time of its AIM listing, the Company raised gross proceeds of £1 million. The Company forecast that the net proceeds of the fund raising, totalling £545,000, would fund the working capital requirements of the Company for the next 18 months.As at the current date, the Company's expenditures remain within budget." Long term liabilities are not included in the working capital calculation in accordance with normal accounting practice. Long term liabilities comprise warrants (which are non-cash) and unpaid deferred salaries for Alex Lemon and me. The circumstances under which these would ever be paid are included in section 7, hence part of long term liabilities. Alex and I are co-founders of the company, largely incentivised via equity, and so it is strongly in our interest to make it a success. As a Canadian company, the next set of quarterlies for the quarter ending September 2016, will be released by the end of November. Kind regards Will Will DawesChief Executive Mkango Resources Limited706 27 Avenue NW,Calgary, Alberta T2M 2J3Canadawww.mkango.ca Tel : +44 207 3722 744Mobile : +44 7785 702 947Email: [email protected]|
|This is looking like a pump job now.
I think a placing in on the cards, all the ingredients are there, promotional presentation followed by people spamming twitter posts and tring to make out they are doing business with the Chinese.
|#MKA delighted to meet delegation from Zhuzhou High-tech Industrial Development Zone on Friday #China #EV #WindTurbines #MagLev #RareEarthshttps://twitter.com/mkangoresources/status/800650402882469888|
|ah so they're "talking to the Chinese"
A bit different to a "deal" then!
I spoke to a Swiss businessman tonight, so I'm "in talks with the Swiss"|
|They have been talking to anyone who will listen for over 2 years now. All smells a lot like a ramp before a placing.|
|Taking to Chinese check their twitter link. Can't believe you didn't know.|
Share Talk and twitter are not official market channels of communication.
If the company are saying that on Twitter I think they will be in serious trouble if not already announced to the market.
Where is the RNS re the Chinese "deal"?|
|Ramp ahead of a placing|
|PLUS mkango tweets Andy.|