When you approach MKA from a perspective of US REE market, magnet production, MP and DoD etc, you firstly value its HyProMag venture. I have just recently found out that HyPoMag's other owner, Cotec may also give an excellent way to invest into the HyProMag story (adding some other potential hidden value) for a still cheap valuation.
Is it also worth covering cotec holdings.
As the price of mkango increases due to the spac, you get less leverage to the recycling business.
Cotec are still at 60m usd. 1 plant gives them 300m usd of npv or 5x.
Basically it is an easy recommendation as we believe in the mkango story.
When you approach MKA from a perspective of US REE market, magnet production, MP and DoD etc, you firstly value its HyProMag venture. I have just recently found out that HyPoMag's other owner, Cotec may also give an excellent way to invest into the HyProMag story (adding some other potential hidden value) for a still cheap valuation.