Mkango Resources Share Discussion Threads

[cyberbub] 09/12/2024 12:07

250k dump at 7.8p - but looking at the timing, all the trades above 8p after then, shown as sells, must have been buys...The seller limit has opened up again and I can sell 300k just below 8p - perhaps a background buy order has been triggered?

[cyberbub] 09/12/2024 09:45

There should be some positive news from the UK pilot plant in a month or two, and possibly a further update from Germany?Can anyone remind me, I recall that the UK pilot plant is fully funded, and the German plant is due to be debt funded, is that correct?

[barrywhit] 09/12/2024 09:23

We had the Friday traders out now we have the No News Monday sellers. This company and Cotec are a good medium to long term hold/investment..long term is not a T20 trade..

[cyberbub] 09/12/2024 09:13

That's what they want you to feel...

[ayesha4] 09/12/2024 08:28

This is frustrating watching the drip drip down

[amtech1] 07/12/2024 10:31

I presume these warrants are issued in Canada if they have been and not the U.K. as there's nothing on companies house.

[barrywhit] 06/12/2024 10:07

Friday traders sell off started??

[cyberbub] 04/12/2024 12:50

Probably yes. More money for the pot, it will help to get the company through 2025. Probably further money will be needed but hopefully at substantially higher prices.

[barrywhit] 04/12/2024 12:07

Delayed 1,000,000 trade from yesterday just showing, Warrants being sold into the market...imo

[cyberbub] 03/12/2024 15:26

Nice little afternoon burst of buying....IMO it's likely that a big chunk of the trading above 9p was warrant holders front-selling their warrants for a nice 30-40% profit. I don't think they will sell in the low 8s, if they think it is going back to 9-10p or higher.Does the company have a block listing arranged where they can issue new shares for warrants without announcing it immediately?

[barrywhit] 03/12/2024 15:18

Do the MM's have a overhang of warrants to move???

[cyberbub] 02/12/2024 16:53

Today's valuation of Songwe, fully defined, FS'ed and permitted, has to be at least 20% of its NPV, IMO. Today that's officially $559m x 20% = $112m or £90m. Even assuming an extra 100M MKA shares were issued at some point, that's still 22p. And the NPV is based on concentrate prices that are 70% lower than today's, and another 30% lower than forecasts for 2027!!

The lucrative Maginito recycling business, coming on-stream in just 2 years' time, is in absolutely for free!

GLA DYOR

[cyberbub] 02/12/2024 11:56

Sell limits have opened up, can sell large amounts at 8.6, smaller amounts at 8.75p.

[barrywhit] 02/12/2024 11:06

I see our little group of traders have closed their T trades this morning, most will be losing money at 9.2p...

[cyberbub] 30/11/2024 15:49

Yes you would think that 15-20p was fair value here today, looking at the REE peer group valuations? With a bit of luck if Songwe is floated in H1 2025, the company could easily have a valuation of 20p just based on that, IMO.

Longer term I could see the share price pushing towards 100p in 2028 when full production at the US (with 3rd vessel) and German sites is underway and debt is being paid down, along with possibly Songwe starting initial production with MKA retaining a significant stake. It seems a long way off but will roll around soon enough.

NAI

[loafofbread] 29/11/2024 07:48

Decent update this morning.

MM has been calling this for months when he was buying at 6p.

[oapknob1] 29/11/2024 07:43

MM pumping on Twitter now it's risen here.

[not guilty] 29/11/2024 06:31

Noble Group (Talaxis owners) filed for bankruptcy in 2018. The restructuring was completed in 2022, part of which will have been offloading assets to Mkango during that period. Company is now owned by senior creditors and operates as normal, apparently doing quite well.

[cyberbub] 28/11/2024 22:21

Thanks Sian, I had read the Oak Bloke writeup this morning, agree it seems compelling!I just had a couple of minor alarm bells:On the Oak Bloke web page there's a comment saying that Talaxis, Mkango's 25% shareholder, were "wound up after a fraud case"? Anyone know anything?Also, it's not very impressive that the Mkango website itself seems to be several months out of date with the number of shares in issue, and the current state of play (MDA approved etc) at Songwe etc. Seems odd for what is clearly a serious company.

[parker2102] 28/11/2024 18:39

Sian, many thanks.
Great write up

[sian] 28/11/2024 17:05

For information:

[cyberbub] 28/11/2024 11:37

Thanks Jarega.

[jarega85] 28/11/2024 11:02

The main mine is Songwe Hill in Malawi. MDA was signed in late July this year. Mkango own 100% of the mine also.I personally think we might sell the asset and purely focus on the recycling business side. It is obvious that raising to fund the mine ourselves would obliterate the company so selling and retaining a royalty would be one option or a JV.I think the significant derisk of obtaining the MDA hasn't yet reflected in our share price Taking a 20% NPV would be around £90m for Songwe alone.

[cyberbub] 28/11/2024 10:10

Thanks Jarega. What about the main Malawi mine?

[jarega85] 28/11/2024 10:06

US Venture is being fully funded by Cotec and we would have a free carry. Ownership of MKA would be 40% non-dilutable.