Myles McNulty

9.4K posts

Myles McNulty banner
Myles McNulty

Myles McNulty

@MylesMcNulty

Former micro-cap equity analyst, former micro-cap-focussed investment manager. Now managing my own book, predominantly trading UK micro-caps.

London Katılım Ağustos 2012
336 Takip Edilen23K Takipçiler
Sabitlenmiş Tweet
Myles McNulty
Myles McNulty@MylesMcNulty·
I am heartbroken. Our beautiful Achilles passed away in the early hours of Friday morning, aged nine and a half. His health had declined rapidly in recent months, and he had been struggling to keep food down for a few weeks. We’ve had a long family getaway to Italy booked for many months – we’re staying in the very south of the country for six weeks. So Achilles and I set off on a 3-day road trip starting at 4am on Tuesday morning from Bath, and our journey took us across England to the Channel Tunnel, and then through France, Switzerland and down the spine of Italy. We stopped many times, enjoyed the spectacular views and countryside together, and as ever I talked to him constantly. [The selfie of us below is from Wednesday night, at our second hotel (near San Marino).] However on Thursday, Achilles’ already fragile health deteriorated even further. We got to the villa, I unpacked the car and had some time to chill out with him in the garden, and then went to pick up my wife and kids from the airport, who’d flown out that afternoon to meet us. When we all got back to the villa, he was overjoyed to see them. But then within an hour, he began spiralling. We ensured our daughter said a big goodnight and goodbye to him. And it seemed to me that once Achilles knew that the family were reunited and the children both asleep, he could finally face the pain. It was then an agonizing few hours, before we were able to find a 24-hour vet about half an hour away, and we were able to get him in the car. An x-ray revealed his stomach was knotted and in a mess. They offered to perform surgery, but I told them to put him to sleep there and then. I was with him throughout until the very end, looking into his eyes, always talking to him. His actions on that final night summed up his noble character. He accompanied me on our mega road trip, he fought through the pain until the family were all reunited, and then only succumbed to it after the children had gone to bed. Achilles was born in April 2016, the very week I quit my job in the City and became a self-employed trader, working from home full time. I collected him 10 weeks later, and he’s been at my side ever since. He was with me as a single man in my late 20s – the two of us lived alone together for a long while. He witnessed me meet the gorgeous woman who would become my wife, and he was there to welcome our two children into the world with us. One of my great friends wrote to me over the weekend that Achilles was “a colossus, in every sense” – which I think was a beautiful description. He was a hothead in his youth, but mellowed with the passing years. Fiercely independent, but equally loyal to the family. A formidable guardian with his physical presence and immense strength, but a gentle giant who let children climb all over him. He became a legend on Wandsworth Common for five years, then Barnes Common for three, and finally in Bathwick Meadows, in his last 18 months (and of course, all the local pubs in those areas!). It would be unusual for us to go on a walk without anyone commenting on him or stopping us to ask questions about him – his size, beauty and gentle temperament. My mother wrote to me over the weekend, “I wonder how many thousands of photos were taken of Achilles by strangers from all over the world, throughout his life?” We have too many hilarious anecdotes of Achilles to count, but I have already started writing them all down the past three days, to share with our children one day. There’s a huge emptiness in our lives that I cannot imagine ever being filled. I’ve lost my best friend, and our children their older brother and protector. But through the grief, I feel such gratitude that I had the honor of raising and spending the most important decade of my life with such a magnificent soul. Thank you for everything, Achilles. You lit up the world and brought joy to all who had the pleasure of meeting you, even seeing you from afar. I count myself blessed to have had you as my companion for so long. Rest peacefully, my beautiful boy.
Myles McNulty tweet mediaMyles McNulty tweet mediaMyles McNulty tweet mediaMyles McNulty tweet media
English
81
19
446
107.8K
Myles McNulty
Myles McNulty@MylesMcNulty·
China really is cranking up the pressure on Japan. It's a gaping open goal for the company that can recycle - economically and at large scale - the millions of end-of-life NdFeB magnets that are already circulating or sitting in stockpiles in Japan. Recall the #MKA $MKA HyProMag RNS title from over 2 years ago, in June 2024: "HYPROMAG TO COLLABORATE WITH ENVIPRO, A LEADING RECYCLING AND MATERIALS TRADING COMPANY IN JAPAN The collaboration encompasses the following: o  Joint marketing of HyProMag recycling technology solutions and recycled magnets in Japan o  Recycling trials to be carried out in UK and Japan on NdFeB scrap supplied by Envipro o  Analysis of the NdFeB scrap supply market and offtake opportunities in Japan o  Collaboration on potential HyProMag recycling technology development in Japan." ...... Please get a move on with this particular expansion, @MkangoResources!
First Squawk@FirstSquawk

CHINA'S RARE EARTH MAGNET EXPORTS TO JAPAN REMAIN LOW IN JUNE – NIKKEI

English
5
11
47
6.2K
Myles McNulty
Myles McNulty@MylesMcNulty·
Outside of the two major longer-term investments in the PF, I've been largely avoiding UK-listed tickers for a while. Potentially AI $AGI #AGI is an exception, and now represents only 1 of 4 UK names in the PF. A startup less than a year old, with a strategy that could potentially genuinely change the AI landscape for the consumer. In short, it has developed a model-agonistic aggregator platform for the emerging AI economy, where individuals and organizations create, protect, and monetize AI-generated content. @that_stocks_guy has published an excellent piece on the company over the weekend, which is a must-read for anyone interested in the stock ⬇️ Listed on AIM last Monday at 5.0p, at 6.1p it now has a mkt cap of a mere £23m. Pre-revenue, even pre-product at the moment. But the pitch is phenomenal, the potential upside really special. If you want UK-listed exposure to the AI trade, Potentially AI is it. Basement level investing at this mkt cap.
Charles Archer@that_stocks_guy

#AGI This is Potentially a frontier AI play that's going to become a champion for what the UK can do. Solving a problem nobody else has. open.substack.com/pub/thatstocks…

English
4
8
26
6.9K
Myles McNulty
Myles McNulty@MylesMcNulty·
Excellent coverage on $MKA #MKA over the weekend by @CoffeeStocksGuy. Ex-UK investors are missing a phenomenal opportunity here. The discount relative to the international peer group should be abundantly clear to all. The long-term uber bull case is simple: HyProMag should actually be trading at a premium to almost all ex-China REE entities, as - given its best-in-class, patented and highly scalable NdFeB recycling technology, which gives it access to feedstock (many multiple “deposits” of a sort!) that no one else can recycle economically - it can become the largest and lowest cost NdFeB magnet producer outside of China. Numerous potential major catalysts could now land at any moment that could help Mkango’s share price begin to close that immense valuation disconnect. A huge few months ahead.
Coffee House Stocks@CoffeeStocksGuy

x.com/i/article/2078…

English
4
13
60
7.4K
SPBHOY
SPBHOY@PaulSemple9·
@MylesMcNulty @RAH00084 @avacta Curious to know whether your use of the word “stonking” was in any way a little nod to Stonks, who let’s acknowledge, always seems to be right at the front of the latest news discovery race. #AVCT
English
2
1
53
3K
Myles McNulty
Myles McNulty@MylesMcNulty·
I have the feeling that corporate action behind the scenes - over and above the $MKAR listing - could be a major factor behind said silence at #MKA. Whatever is happening with HyP USA / HyP RoW, corp. action-wise, I do hope the latter can still press on with overseas expansion. Japan is the very obvious next market, given the ever-increasing tensions between it and China.
English
1
3
30
2K
Darren Willis
Darren Willis@dwillis_fx·
The silence from the #MKA BOD is deafening, with so much coming there really should be lots of noise around what #MKA can offer. Once upon a time @MkangoResources used to have regularly updates with their shareholders. Come on #MKA
Myles McNulty@MylesMcNulty

Trump is literally spelling out to us what to invest in next: Rare earth magnet plants, on US soil. $MKA #MKA and JV partner $CTH are building out at least three HyProMag magnet recycling and remanufacturing plants in the US (and possibly as many as seven), which will likely be the lowest cost magnet manufacturing facilities in the world (certainly, outside of China). For Mkango in particular (which owns c.80% of HyProMag), the current valuation is just nonsensical. Its upstream (non-magnet!) business is listing on NASDAQ in the next couple of months at 77.5p per share equivalent (versus MKA's current SP of 39p) - meaning that HyProMag is priced at less than zero, in MKA's mkt cap.

English
1
3
21
3.4K
Myles McNulty
Myles McNulty@MylesMcNulty·
@ShareSurfer_ If that's your interpretation, that's your interpretation 🤷‍♂️
English
1
0
3
595
Myles McNulty
Myles McNulty@MylesMcNulty·
Trump is literally spelling out to us what to invest in next: Rare earth magnet plants, on US soil. $MKA #MKA and JV partner $CTH are building out at least three HyProMag magnet recycling and remanufacturing plants in the US (and possibly as many as seven), which will likely be the lowest cost magnet manufacturing facilities in the world (certainly, outside of China). For Mkango in particular (which owns c.80% of HyProMag), the current valuation is just nonsensical. Its upstream (non-magnet!) business is listing on NASDAQ in the next couple of months at 77.5p per share equivalent (versus MKA's current SP of 39p) - meaning that HyProMag is priced at less than zero, in MKA's mkt cap.
Aaron Rupar@atrupar

Trump: "Magnets! Do magnets, okay? I'll tell you how to make money. Do magnets. It's one thing we don't have, but we're getting close. I guarantee you it's gonna be susssessullll"

English
6
18
66
15.6K
Robin Mayes
Robin Mayes@Robin25461631·
@MylesMcNulty Crazy valuation for @MkangoResources at the moment just considering the up coming listing. Just one of many bargains out there at the moment whilst fear dominates greed over these summer doldrums.
English
2
4
19
1.2K
Myles McNulty
Myles McNulty@MylesMcNulty·
Really encouraging to see fresh pairs of eyes turning to $AVCT #AVCT, especially those from the FinX retail community usually focussed on US stocks. There will be a monumental tipping point in the not-too-distant future for Avacta. pre|CISION is on track to have a truly profound impact on cancer treatment - which touches almost everyone's lives at some point, some way or another. Personally, I see big commercial deals being signed for AVA6103, AVA6207 and AVA6000 (probably in that order), before the end of the year. Each could generate substantial non-dilutive cash injections (particularly so AVA6103). But I do not think those deals will be the tipping point for the share price, per se. All the information required for a monumental share price rerate is already in the public domain. The pre|CISION delivery platform is already streets ahead of any other targeted oncology technology on the market or in development. It deserves a multi-billion $ valuation, today. I think the tipping point in the coming weeks / months will simply be the company falling at last onto the radars of thousands of (likely, ex-UK) retail and insto investors, who have never heard of Avacta before. That point is, I think, at long last near.
Coffee House Stocks@CoffeeStocksGuy

Avacta is a small British biotech most of FinTwit couldn't name. AIM-listed. Spent the last two years selling off its diagnostics business - Launch Diagnostics went to Palex for £12.9m in 2025 - to go all-in as a pure-play oncology company. 1 June: ASCO data showed no severe cardiac toxicity on its lead cancer drug. Three weeks later, the FDA agreed it can skip straight to ONE pivotal trial for full approval - progression-free survival as the sole endpoint. Salivary gland cancer is a small indication though. Whether this becomes a platform story or stays a one-drug story depends on what the next readout shows. $AVCT

English
5
20
149
19.1K
Myles McNulty
Myles McNulty@MylesMcNulty·
@RedditDeluxe A hugely significant and positive read-across for #EPP, many thanks for highlighting 👍 Potentially a return of many multiples on offer here. The lack of both foresight and risk appetite in the UK PLC investment community is truly dismal, although no longer surprising.
English
1
8
21
1.8K
Reddit Investor
Reddit Investor@RedditDeluxe·
It’s very encouraging to see another project of “national significance” receive £66.5m of pre-FID DEVEX government DESNZ funding. I have heard many stating that nothing will happen at #EPP until FID. That is plainly false, as the buildout of what is anticipated to be the UK’s largest energy storage facility advances newsflow will be constant and high value. Also yesterday’s Viking funding news goes to show that game-changing news such as DEVEX finance can drop anytime… and when it does, this stops being a sub £20m MCAP company.
Reddit Investor tweet media
English
3
26
39
2.6K
Myles McNulty
Myles McNulty@MylesMcNulty·
It is simple as a broker and analyst moving from ARC to Cavendish, and taking their business - including #MKA research coverage and broking - with them. The £12.5m raise settled less than 3 months ago, and they turned away a few £ mill in the placing. At 38.5p it's a 100% uplift just for MKA to be trading at the value of its circa 80% shareholding in $MKAR (at the $10 listing price). Then look at valuations being ascribed to other magnet makers. - Vacuumschmelze (current capacity of 2,000 tpa of magnets - although not yet operating at that capacity) being acquired by $UUUU for $1.9 billion. - JS Link receives an equity investment by $LYC of A$50m, at a valuation of circa US$760m million. Current capacity of 1,000 tpa - also not yet operating at that capacity. - $USAR mkt cap still $4.5 billion, despite a 40% SP decline since the start of June. No commercial-scale magnet capacity in place yet. - Vulcan Elements valued at circa $2 billion. No commercial-scale magnet capacity in place yet. To note, Mkango now has fully constructed capacity of 1,200 tpa across 3 plants... 700 tpa of which represents the lowest cost magnet production outside of China. The first HyProMag plant build should be commencing in the coming months in the US, and I'm increasingly confident we hear of HyProMag expansion into a fourth territory v shortly. Hopefully Japan, given the size of the market opportunity. Personal hope is that once MKAR is listed, mgmt fast-tracks plans to wind up MKA. Could sell HyP to HyP USA, and then distribute shares in HyP USA and MKAR to us MKA shareholders; or else could reverse MKA into MKAR. Either way, the UK listing is a huge negative for the company now, as our domestic investment community is just too poor and too risk averse (relative to overseas communities) to attribute any serious value (on a relative basis) to Mkango. [The other possibility is that USAR just comes in for the lot in the coming months!!]
English
2
2
42
3.3K
Garf
Garf@glr_1990·
#MKA A new broker always spooks the market But why fear it? At 38p there isn’t much to lose IMHO, the last two raises have been 30p and 33p With a $400m net to #MKA IPO happening in the coming months, offering shares at just $200m (38.5p) would be a gargantuan opportunity for investors So the way I see it, if Mkango wants to bolster its WC, then I welcome it with open arms. Every raise we do adds enormous value. And if we don’t, then I welcome the piece of news which will likely be the SPAC F4 approval and potential listing date Raises when done right, are brilliant for investors and the company - move away from the old AIM mentality of bucket shops, we are far away from those lands now and we are becoming a European powerhouse. If the board have some more aquisition ideas, let’s concentrate. We are in a great, envious position. All paths lead to success. I have added.
English
4
5
31
4.5K
Myles McNulty
Myles McNulty@MylesMcNulty·
@Jenkoool Remember that $LLY already has had more than a sneak peak of the pre|CISION peptide, through its acquisition of POINT in late 2023 - which had an active partnership with $AVCT #AVCT for FAP-based radioligand therapies at the time it was taken over by LLY.
English
0
3
79
3.5K
Jenkoo
Jenkoo@Jenkoool·
If only there was a company that had a platform with over half a decade of experience with FAP and the latest interest in Oncology…. Peptides. Suspect Lilly and others would be a little interested in peeking under to hood 😊 #avct
Lilly Oncology Medical@LillyOncMed

Fibroblast activation protein (FAP) is expressed by cancer-associated fibroblasts (CAFs) within the tumor stroma. CAFs may: ➡️Drive tumor progression ➡️Promote therapy resistance ➡️Enable targeted ionizing radiation delivery to tumor cells 🔗e.lilly/49m2JgN #Theranostics

English
3
6
66
8.5K
Myles McNulty
Myles McNulty@MylesMcNulty·
In a different application to the way I believe you’re thinking of peptide use, but…Peptide-drug conjugates. An evolution of the current leading modality for precision oncology, the antibody-drug conjugate. Avacta #AVCT’s pre|CISION platform is by a long way, the best-in-class PDC platform. Bookmark and revisit in 6 months. Currently 74p.
English
2
8
89
6.8K
Antonio Linares
Antonio Linares@alc2022·
Peptides are an evolutionary leap for humanity They will cure everything
English
20
4
208
24K
Myles McNulty
Myles McNulty@MylesMcNulty·
Come to think of it, #MKA's existing nameplate capacity across its three constructed plants (excluding likely planned expansion at the two HyProMag plants) is already 1,200 tpa - which is 60% of VAC's existing capacity. Mkango's attributable share of that 1,200 tpa is circa 88%, or ~1,060 tpa. VAC's current capacity is 2,000 tpa (which it is not yet operating at). Being acquired for $1.9bn. Not a bad read across for MKA's HyProMag, purely for its European operations!
English
2
3
15
1.8K
MB
MB@MBdaytrading·
@MylesMcNulty Totally agree !! Surely !
English
1
0
3
1.3K
MB
MB@MBdaytrading·
I’ll be extremely surprised if #MKA isn’t on the radar of some of the big US RE companies!
English
1
2
19
4.3K
Myles McNulty
Myles McNulty@MylesMcNulty·
* $USAR acquired Less Common Metals for its metal / alloy making capacity
English
0
1
2
1.6K
Myles McNulty
Myles McNulty@MylesMcNulty·
#MKA is just so incredibly placed right now. If one considers the recent spree of M&A in the rare earths industry, it is clear that operating status is key for the majors. - $UUUU acquired Australian Strategic Materials to add metal / alloy making capacity; - $UUUU acquired VAC for its magnet making capacity; - $USAR acquired Less Common Metals for its magnet making capacity; - $USAR acquired Serra Verde for its operating mine. Mkango now has three fully constructed magnet recycling / remanufacturing plants across Europe, which are now either operating or in the process of being commissioned. By H2 next year, it will be four plants across three nations, with construction having commenced on a mine and separation plant. Cash flows at industry-leading margins can build rapidly, from today. I remain absolutely convinced that Mkango (pr perhaps just HyProMag) will be the subject of a bid in the not-too-distant future. USAR remains the number 1) predator, in my view - especially after UUUU went for VAC.
English
2
6
34
3.8K
Myles McNulty
Myles McNulty@MylesMcNulty·
@TallPaul64PW If there's nothing by 7.01am on Monday then yes, I'd agree it's strange. For now, unconcerned and waiting patiently.
English
0
1
24
1.4K
Paul Walton
Paul Walton@TallPaul64PW·
@MylesMcNulty All looking very very positive! However, 2nd data dump promised for Q2 and last day of Bio Int tomorrow. Why no data yet? Bit strange. Any thoughts?
English
2
0
5
4.4K
Myles McNulty
Myles McNulty@MylesMcNulty·
On Avacta #AVCT $AVCT's pre|CISION platform: It is abundantly clear that Big Pharma now acknowledges that the current leading modality in precision oncology - the antibody-drug conjugate ('ADC') - has numerous limitations (not least, still significant unwanted side effects). Modalities evolved from ADCs - non-antibody-drug conjugates ('XDC') - are the new frontier. pre|CISION is an XDC platform, specifically, a peptide-drug conjugate ('PDC') platform. And from what at least I can see, it is by far the best-in-class PDC platform in clinical development. - Most targeted (= least side effects whilst simultaneously ensuring greatest efficacy); - Largest TAM (~85% of all cancer types across solid tumour and blood); - Most flexible delivery platform (can be used to deliver almost any warhead to the tumour); - 80-90% cheaper to manufacture than an ADC-equivalent (due to no biologic (antibody) being used). pre|CISION Gen1 (i.e. AVA6000) has now been in the clinic for half a decade. Gen2 - which is infinitely more powerful than Gen1 - has been in clinic for 4 months (AVA6103), with the first data release due in the next six months. I am banking on this first Gen2 data being the catalyst that begins another rapid evolution of the global precision oncology industry. By monetizing the Gen1 and the earlier stage Gen3 platforms in the coming weeks and months, there is real potential for Avacta's mkt cap to increase by many multiples from here, with limited further equity dilution from this point. My PF has never been more heavily weighted to the stock than it is right now.
stonks@JStonker

Great perspective of Sethera Therapeutics CEO @ BIO San Diego. BP want differentiated science but they're careful that it can be developed, manufactured, protected and advanced. In that environment peptide therapeutics are becoming more attractive #AVCT biospectrumasia.com/influencers/25…

English
5
23
161
20.8K