ChiswickFox

Since Labour came to power... ⚠️ There are roughly 280,000 more people unemployed ⚠️ 1.1 million more people on welfare without work requirements ⚠️10,000 fewer young people not in education, employment, or training ⚠️ 62,000 more people working in the public sector and 65,000 more small boat arrivals How do you think Labour are doing?

🚨 BREAKING: Football madness in Brazil 🇧🇷 A goal scored in just 19 SECONDS… without even touching the ball 😳⚽ Novorizontino capitalise on a shocking error by Sport Recife in Série B. You’ll never see this again 😂

We're at the 'looting' stage, where all the regime does (and can do) is confiscate as much wealth as it possibly can in order to keep a grip on power, paying the salaries of its own employees and handing welfare payments to its client groups, to keep both classes on side. But it can't confiscate as fast as it is spending it, and so it's running out of road.

£4k for just council tax. I can't keep shouting and do nothing about it ☹️

And this is from your after tax income Imagine having to go out and earn £8k just to get your bins collected Games gone

What a headline🤣🤣🤣

The Reeves bounce

@bphillipsonMP @educationgovuk Lol 😂 😂🤡🤡🤡🤡

This government is focused on the cost of living. At @educationgovuk, we're saving families cash: £450 on free breakfast clubs £50 on school uniforms £500 on free school meals £300 on school holiday clubs Now it's confirmed we've halved childcare costs, saving parents £8,000.

On a final note for the week a AIM lesson my friend has seen the market cap increase in his investment 25 fold yet he is around 99% down...welcome to the world of #kefi

#lgen looking v cheap

After skipping lunch today - never has an instant coffee tasted so good. Happy Friday! ☕️

An absolute beast of an update from @MkangoResources #MKA yesterday - unfortunately completely ignored (for now!) by the wider markets, courtesy some rather extreme geopolitical events currently unfolding... Two major studies unveiled: 1) Updated Definitive Feasibility Study for the Songwe Hill Rare Earths Mine in Malawi. 2) Pre-Feasibility Study for the Pulawy Rare Earths Separation Plant in Poland. Songwe Hill The updated DFS incorporated revised rare earth pricing (both a Base Case Scenario and an Upside Scenario - calculated by Adamas Intelligence, a leading research house focused on the global rare earths industry); as well as capital and operating cost assumptions. The base case post-tax NPV10 for the project is $339.5m, with an IRR of 24%. Using an NPV8, that figure increases to $461.2m. The upside scenario post-tax NPV10 is $488.5m, with an IRR of 29%. The NPV8 is $644.8m. Total initial capex requirement: $325.5m. Pulawy This PFS is the first time Mkango has presented any financials on the project to the market - and wow did it surprise to the upside! Base case post-tax NPV10 of $779m, IRR of 40%. Upside scenario post-tax NPV10 of $892m, IRR of 43%. Total initial capex requirement: $212m. ...... The combined base-case NPV10 of the two assets is therefore: $1.12 billion For the upside scenario: $1.38 billion. However, I would argue that using an NPV10 is far too conservative. REE projects - above all processing operations such as Pulawy - are in extreme demand worldwide right now. One located in mainland Europe would be a major strategic asset for the entire continent. I would suggest an NPV using a discount rate of somewhere between 5% and 8% would be more reasonable. Moreover, given the EU CRMA designation for both Songwe Hill and Pulawy, it seems highly likely that both projects will receive either substantial grants or low cost loans to fund construction. Also recall that the US DFC has already indicated that it might contribute $100m to the construction of Songwe Hill. Such financing arrangements - particularly grants - will boost the projects' NPVs and IRRs considerably. $MKAR will be listing on NASDAQ in the next 2-3 months at a valuation of circa $500m. [Mkango's circa 80% stake will be valued at approx. $400m, at the listing price.] So, in the most conservative case, MKAR will be trading at circa 45% of NPV at its listing price, but in an upside scenario (using the bull case pricing and lowering the NPV discount rates) it is easy to perceive how $500m could in fact be only 20%-25% of the combined projects' NPV. It's also worth pointing out that the major US-listed peers ( $MP $UUUU $USAR) in fact tend to trade at premiums to their NPVs - even prior to commencement of production. I see yesterday's announcement as a major boost to the IPO prospects for MKAR: both to securing investment from the US and EU governments, and from banks and institutions for project funding; and as a boost to post listing trading (to close out that big discount to NPV!!). Exciting times ahead for MKA shareholders. And I haven't touched on HyProMag! Still very much expecting big news from HyProMag USA in the near future...!

Absolutely humiliating for Rachel Reeves who claimed Truss crashed the economy when 10 year Gilt yields briefly passed 4% The Labour moron premium is far larger, as UK government borrowing costs close in on 5% #Economy

Just back from lunch, watched two council drones fine a nail salon £150 because their sign was one foot outside a designated area, the state hates you

Normal day in the uk

@faisalislam good job Labour MPs blocked welfare cuts 😂😂😂

So the UK's 10-year gilt yield - the cost of government borrowing - is now up at 2008 levels. An 18-year high The difference is that, back then, UK national debt was 48pc of GDP, and now it's the best part of 100pc. So the debt service costs are much MUCH heavier. Of the £14.3bn the UK government borrowed in February alone, no less than £13bn of that was spent on interest on existing debts - a situation which is not only unsustainable, but very close to provoking a disastrous financial collapse. Yet still, our national discourse is all about more spending, more borrowing, more "state intervention". When is the Labour party – and much of the listless, unthinking rump of the UK's political and media class – going to start acknowledging reality? WHEN ....?

@iancowie @HLInvest This deserves a story in Sunday times - total incompetence on a Friday during the most volatile trading week in years

Rather surprised to find how empty the morning feels without the chance to check my 'forever fund' now the @HLInvest website is down. It's usually the best, or the worst, news of the day; translating all that macro stuff about people I never met into stuff that really matters to me!

@hlinvest please can you provide details of your complaints team, this is simply unacceptable for a broker