http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Wed, 22 Nov 2017 02:37:04 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116110542_13434220/ Thu, 16 Nov 2017 06:05:42 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116110542_13434220/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116110019_13434192/ Thu, 16 Nov 2017 06:00:19 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116110019_13434192/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116090025_13433855/ Thu, 16 Nov 2017 04:00:25 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116090025_13433855/ <![CDATA[RNS press release - Mkango enters into agreement with Talaxis ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116070006_13433395/ Thu, 16 Nov 2017 02:00:06 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171116070006_13433395/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171106102029_13421379/ Mon, 06 Nov 2017 05:20:29 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171106102029_13421379/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171103150413_13420375/ Fri, 03 Nov 2017 11:04:13 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171103150413_13420375/ <![CDATA[RNS press release - MKANGO GRANTS STOCK OPTIONS ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171101133001_13416890/ Wed, 01 Nov 2017 09:30:01 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171101133001_13416890/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171101070005_13415768/ Wed, 01 Nov 2017 03:00:05 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171101070005_13415768/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171027112002_13411723/ Fri, 27 Oct 2017 06:20:02 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171027112002_13411723/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171027111501_13411713/ Fri, 27 Oct 2017 06:15:01 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171027111501_13411713/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171027092925_13411466/ Fri, 27 Oct 2017 04:29:25 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171027092925_13411466/ <![CDATA[RNS press release - Result of Equity Issue ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20171026070003_13409359/ Thu, 26 Oct 2017 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20171026070003_13409359/ <![CDATA[RNS press release - MKANGO ADVANCES METALYSIS PROJECT & RAISES £500K ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20170929070003_13379583/ Fri, 29 Sep 2017 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20170929070003_13379583/ <![CDATA[RNS press release - Mkango Releases 2nd Quarter Results ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20170830070003_13344916/ Wed, 30 Aug 2017 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20170830070003_13344916/ <![CDATA[RNS press release - Mkango renews Thambani Licence ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20170823070002_13338630/ Wed, 23 Aug 2017 02:00:02 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20170823070002_13338630/ <![CDATA[RNS press release - 1st Quarter Results ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20170525070007_13237739/ Thu, 25 May 2017 02:00:07 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20170525070007_13237739/ <![CDATA[RNS press release - High grade Uranium, Tantalum, Niobium at Thambani ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20170524070008_13236146/ Wed, 24 May 2017 02:00:08 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20170524070008_13236146/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20170427105523_13206829/ Thu, 27 Apr 2017 05:55:23 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20170427105523_13206829/ <![CDATA[News - Mkango signs 3-D magnets agreement with Metalysis ]]> http://www.proactiveinvestors.com/companies/news/175048/mkango-signs-3-d-magnets-agreement-with-metalysis-175048.html Mkango Resources Limited (LON:MKA)(CVE:MKA) has entered into a Memorandum Of Understanding with Metalysis Limited jointly to research, develop and commercialise novel rare earth metal alloys for use in three-dimensional printed permanent magnets.

Metalysis owns a proprietary metal processing technology that can manufacture metal powders at high margins, and which originated in the University of Cambridge.

WATCH: Zak Mir on Mkango Resources

The MOU will combine Mkango's expertise in the rare earths and rare earths magnets markets Metalysis' technology.

The two companies envisage a comprehensive research and development programme, culminating in the joint pursuit of commercial opportunities. One such opportunity includes evaluating the United Kingdom as a future host country for a manufacturing plant to exploit a commercialised technology. 

Rare earth permanent magnets are a critical component of many electric vehicles, as well as other consumer and green technologies. China dominates the rare earth permanent magnet industry, and with one of the few rare earths projects outside China to have advanced beyond the pre-feasibility stage, Mkango is well-placed to respond to the global demand outlook.

Mkango's share of the first phase of R&D costs will be funded out of existing cash resources.

 

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Mon, 20 Mar 2017 08:01:00 -0400 http://www.proactiveinvestors.com/companies/news/175048/mkango-signs-3-d-magnets-agreement-with-metalysis-175048.html
<![CDATA[News - Mkango upbeat on Malawl rare earth and uranium projects ]]> http://www.proactiveinvestors.com/companies/news/173982/mkango-upbeat-on-malawl-rare-earth-and-uranium-projects-173982.html Mkango Resources Ltd (LON:MKA CVE:MKA) has started its next round of metallurgical/exploration work at rare earths project Songwe Hill and uranium project Thambani, both in Malawi.

At Thambani, the primary focus is uranium but Mkango added recently it will assess the site for its lithium potential.

Processing test work meanwhile will look to improve flotation and hydrometallurgical portions of the flow sheet for Songwe, which will cut costs.

William Dawes, chief executive, said both projects are focused on commodities with strong outlooks.

Songwe is one of the few advanced stage rare earths projects outside China with an offtake deal just signed with trading giant Noble Group and is ewll palced to benefit from a recovery in the rare earths sector.

“Growth in electric vehicle demand and other green technologies will have a huge impact on the rare earths sector.

“For example, BHP Billiton and BP are forecasting that there will be 140 million and 100 million electric vehicles by 2035, respectively, versus around 1 million today. “

The European Union, meanwhile, has indicated it is more vulnerable to supply bottlenecks of rare earths used in electric vehicles and wind power than lithium.

At Thambani, Alexander Lemon, Mkango’s president, added:  "The market is clearly seeing renewed interest in uranium projects in recent months following moves by Kazakhstan to cut production and the increasingly apparent lack of supply for new reactors being brought online over the next five years in countries such as India and China.

Our strategy for the project remains to bring in a joint venture partner, he said, but Mkango can add value by pushing ahead with a clearly defined, low cost exploration programme following the end of the rainy season in Malawi.

 

 

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Wed, 01 Mar 2017 07:41:00 -0500 http://www.proactiveinvestors.com/companies/news/173982/mkango-upbeat-on-malawl-rare-earth-and-uranium-projects-173982.html
<![CDATA[News - Mkango says all AGM business approved ]]> http://www.proactiveinvestors.com/companies/news/173411/mkango-says-all-agm-business-approved-173411.html Dual-listed Mkango Resources Ltd (LON:MKA, CVE:MKA) announced on Monday the results of its annual general meeting of shareholders held on February 16.

All business put forward at the Meeting was approved by the shareholders of the Corporation.

This included: the re-election of Derek Linfield, William Dawes, Alexander Lemon, David Berg, Eugene Chen and Adrian Reynolds as Directors of the Corporation; re-appointment of Meyers Norris Penny LLP as auditors of the Corporation and the approval of the stock option plan of the Corporation in accordance with the policies of the TSX Venture Exchange.

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Mon, 20 Feb 2017 12:32:00 -0500 http://www.proactiveinvestors.com/companies/news/173411/mkango-says-all-agm-business-approved-173411.html
<![CDATA[News - Mkango Resources surges as it announces exploration programme at Thambani ]]> http://www.proactiveinvestors.com/companies/news/172560/mkango-resources-surges-as-it-announces-exploration-programme-at-thambani-172560.html Shares in dual-listed Mkango Resources Ltd (LON:MKA, CVE:MKA) shot up in London as it announced plans to start exploration on its Thambani uranium project.

Following recent management site visits, Mkango plans to commence its 2017 exploration programme in the Thambani licence area, in Malawi, during the first quarter.

The decision follows the airborne geophysics survey last year that was funded by the World Bank.

Read Mkango identifies more rare earths targets in Malawi

The programme will include further mapping, soil and rock chip sampling, trenching and ground ‘truthing’ of new geophysical anomalies.

Mkango said that searching for uranium (and associated tantalum and niobium) would be the main focus of the programme, but it would also evaluate the licence for its lithium potential.

Lithium is the hot mineral in mining circles these days because of the expectation of massively increased demand from battery makers.

The Thambani licence area is host to pegmatite occurrences, which can be a potential host rock for lithium. Furthermore, historical reports refer to an occurrence of a lithium mineral in the licence area, Mkango revealed; however, these need further geological investigation to determine the significance.

It is the rainy season at the moment in Malawi, so the programme will kick-off when that ends, which is usually late February or early March.

The exploration programme will be funded from existing cash resources.

“The market is clearly seeing renewed interest in uranium projects in recent months following moves by Kazakhstan to cut production and the increasingly apparent lack of supply for new reactors being brought online over the next five years in countries such as India and China,” said Alexander Lemon, president of Mkango.

“Our strategy for the project remains to bring in a joint venture partner, but we believe that we will enhance value for our shareholders in the near term by pushing ahead with a clearly defined, low cost exploration programme following the end of the rainy season in Malawi," he added.

Shares in Mkango rose to 4p at one point in London, before ebbing to 3.58p, up 14.5% on the day.

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Thu, 02 Feb 2017 10:44:00 -0500 http://www.proactiveinvestors.com/companies/news/172560/mkango-resources-surges-as-it-announces-exploration-programme-at-thambani-172560.html
<![CDATA[News - Mkango Resources gets regulatory approval for collaboration deal with Noble Resources ]]> http://www.proactiveinvestors.com/companies/news/171030/mkango-resources-gets-regulatory-approval-for-collaboration-deal-with-noble-resources-171030.html Mkango Resources Ltd (LON:MKA, CVE:MKA) said today it has received regulatory approval for its previously announced agreement to collaborate with commodity trader Noble Resources.

It also said it has obtained regulatory approval for a £450,000 placing with existing shareholders and new institutional investors. 

READ: Mkango surges as Noble gets behind it ...

Mkango shares surged before Christmas on the news that Noble Resources is to lend its considerable weight to the rare earths explorer.

The group confirmed that it would issue 12 million warrants to Noble, with an exercise price of 6.6p.

Should Noble exercise all of the warrants, which have a life-span of two years, it would end up with a 12.5% stake in Mkango.

Noble, one of world's largest commodity traders and the largest in Asia, will identify the optimal markets and counter-parties for output from Mkango’s Songwe Hill rare earths project in Malawi.

Songwe Hill is in development and heading towards completion of a definitive feasibility study.

Noble will advise on the best strategy for the product mix at the project, and the optimal logistics route to take the project’s production to market.

Will Dawes, chief executive of Mkango, said at the time that the deal should transform the company.

Mkango has also completed the placing of shares at a price of 3.5p each which raised £450,000 from existing and new institutional investors.

As a result two specialist Swiss mutual funds, the Rare Earth Elements Fund and the Metals Exploration Fund, each hold an interest of 3.6% in Mkango.

The group said the main uses of the proceeds from the placing will be to accelerate the optimisation of the processing flow sheet and evaluation of product marketing options to facilitate further marketing, offtake and partnership discussions, as well as to evaluate additional opportunities and other expenditures.

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Fri, 30 Dec 2016 07:54:00 -0500 http://www.proactiveinvestors.com/companies/news/171030/mkango-resources-gets-regulatory-approval-for-collaboration-deal-with-noble-resources-171030.html
<![CDATA[RNS press release - Receives Regulatory Approval for Noble transaction ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20161230070004_013081128/ Fri, 30 Dec 2016 02:00:04 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20161230070004_013081128/ <![CDATA[News - Mkango surges as Noble Resources gets behind it ]]> http://www.proactiveinvestors.com/companies/news/170666/mkango-surges-as-noble-resources-gets-behind-it-170666.html Commodity trader Noble Resources is to lend its considerable weight to Mkango Resources Ltd (LON:MKA, CVE:MKA), the rare earths explorer.

Noble, one of world's largest commodity traders and the largest in Asia, will identify the optimal markets and counter-parties for output from Mkango’s Songwe Hill rare earths project in Malawi.

Songwe Hill is in development and heading towards completion of a definitive feasibility study.

Noble will advise on the best strategy for the product mix at the project, and the optimal logistics route to take the project’s production to market.

The commodity trader will also be able to introduce Mkango to parties interested in financing development of the project.

Mkango said Noble would also be in its corner in market-related discussions with key stakeholders, including Mkango's financial, technical and legal advisers, prospective investors and lenders and relevant government agencies associated with the project.

Shares in Mkango shot up 8% in the first half hour of trading to 3.51p as the company revealed it would issue 12mln warrants to Noble, with an exercise price of 6.6p.

Should Noble exercise all of the warrants, which have a life-span of two years, it would end up with a 12.5% stake in Mkango.

Will Dawes, chief executive of Mkango, said the deal should transform the company.

"Mkango is focused on one of the few advanced stage rare earths projects outside China, and through Noble's network and relationships in Asia and elsewhere, its marketing expertise, logistics platform and off-take capabilities, we are very well positioned to advance the project against the backdrop of a recovering rare earths sector,” Dawes said.

Mkango added it has raised £450,000 from existing and new institutional investors through the issue of shares at 3.5p, a premium of a quarter of a penny to last Friday’s closing price.

Two specialist Swiss unit trust funds, the Rare Earth Elements Fund and the Metals Exploration Fund, are buying into the company and each will end up with an interest of 3.6% in Mkango after the share issue.

The main uses of proceeds from the placing will be to accelerate the optimisation of the processing flow sheet and evaluation of product marketing options to facilitate further marketing, off-take and partnership discussions.

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Mon, 19 Dec 2016 08:40:00 -0500 http://www.proactiveinvestors.com/companies/news/170666/mkango-surges-as-noble-resources-gets-behind-it-170666.html
<![CDATA[RNS press release - Mkango enters into Agreement with Noble ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20161219070010_013071056/ Mon, 19 Dec 2016 02:00:10 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20161219070010_013071056/ <![CDATA[RNS press release - 3rd Quarter Results ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20161129070007_013049174/ Tue, 29 Nov 2016 02:00:07 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20161129070007_013049174/ <![CDATA[News - Mkango reports jump in total assets in Q3 ]]> http://www.proactiveinvestors.com/companies/news/169629/mkango-reports-jump-in-total-assets-in-q3-169629.html Mkango Resources Ltd (LON:MKA, CVE:MKA), the rare earths explorer, reported a jump in Total assets with its third quarter earnings on Monday.

Total assets mushroomed to $539,997 in the three months to Sept 30 from $252,935 in the same period a year ago.

The total comprehensive loss rose to $485,682 from $49,234 in the third quarter of 2015, the Toronto- and London AIM-listed company said.

“The operations of the Company are currently being funded by the net proceeds of a fund raising completed in connection with its listing on the AIM market of the London Stock Exchange on June 15, 2016. The Company’s strategy is to further advance the projects via research collaborations, marketing and off-take agreements, joint ventures, financial and strategic partnerships,” the company said in a statement.

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Mon, 28 Nov 2016 15:48:00 -0500 http://www.proactiveinvestors.com/companies/news/169629/mkango-reports-jump-in-total-assets-in-q3-169629.html
<![CDATA[RNS press release - Holding in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20161118151153_013040370/ Fri, 18 Nov 2016 10:11:53 -0500 http://www.proactiveinvestors.com/companies/rns/6737/LSE20161118151153_013040370/ <![CDATA[News - Mkango looking at long term production potential In Malawi ]]> http://www.proactiveinvestors.com/companies/news/167717/mkango-looking-at-long-term-production-potential-in-malawi-167717.html These are exciting times for rare earths explorer Mkango Resources Ltd (LON:MKA, CVE:MKA).

Not only is it bullish on the outlook for the rare earth sector, it also has one of the few advanced stage rare earth projects in the world.

Last year's prefeasibility study for its Songwe Hill project in Malawi outlined an inferred and indicated resource of 32mln tonnes of rare earths, with the potential for a long 18-year mine life exploiting just the higher confidence indicated material.

An international research study

Now, the firm is part of a large international research study, HiTech AlkCarb, which will provide greater understanding of the geology and geophysics of the Phalombe licence, which hosts Songwe, and which could show the area could support a much longer term and bigger rare earth project.

Speaking to Proactive, Will Dawes, Mkango's chief executive, explained, that the delegation was part of the EU funded €5.4 million HiTech AlkCarb research project and saw a large group of international and Malawian expert geologists and geophysicists‎ visit a number of prospects in the Phalombe licence in addition to other areas over the course of a week.

Apart from Songwe, ‎other prospects in the Phalombe licence visited by the party were the Nkalonje, Mantrap, Knoll and Namangale areas.

Without getting too geologically technical, this pioneering research is looking at the potential of whether there are additional buried carbonatite bodies, which could host more rare earths and thereby expand the long term potential of the Phalombe licence.

Dawes  explained that in the years following the original ground geophysics at Songwe, which was carried out six years ago, the focus was the outcropping mineralised carbonatite (above surface), from which the 32 million tonne resource was delineated, and the focus was not on potential buried carbonatites but that could all change now.‎ The original ground geophysics together with our collaboration in ‎HiTech AlkCarb will enable a greater understanding of that potential.

Potential for a longer mine life?

"We're not just looking at  Songwe  as an 18 year mine life operation. This project, the surrounding area and the other prospects have the potential to have a much longer mine life - and to be a very long term and sustainable producer of rare earths," he said.

Notably, Dawes said the Nkalonje vent was also of particular interest for follow-up work and could have potential for an underlying carbonatite ‎hosted rare earths deposit.

Dawes reckons the sort of data coming from the HiTech AlkCarb study in parallel with developing a better understanding of the exploration upside will provide an enhanced platform to bring in a partner to complete additional drilling and a definitive feasibility study, thereby accelerating development of the Songwe and the Phalombe licence.

The same can be said for the group's 136.9 sq km Thambani licence also in Malawi, prospective for uranium, tantalum and niobium where a partner would also be sought.

For Songwe Hill, the next major step would be a definitive feasibility study, said Dawes - Songwe's credentials were already underlined in an updated pre-feasibility report last November.

That envisaged Songwe Hill production of 2,841 tonnes of rare earths in mixed chemical concentrate per year over the 18 years.

The project's net present value (NPV) was US$345mln with up-front capital expenditure forecast at US$216mln.

Some 65% of the rare earths production value would be neodymium and praseodymium and over 15% the heavy rare earths, dysprosium and terbium.

These four are among the most valuable and used in hi-tech permanent magnet applications seen as critical components in the next wave of consumer products, electronics and green energy.

Bullish on rare earth market

Dawes said 50% of overall rare earth demand is geared towards clean energy and cleantech, and he is very bullish on the outlook for prices and the market.

The HiTech AlkCarb project is not the only cutting edge research into rare earths the group is involved in. It's also involved in the SoS RARE research consortium looking at extraction and processing methods. So there is much to look forward to.

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Thu, 20 Oct 2016 12:59:00 -0400 http://www.proactiveinvestors.com/companies/news/167717/mkango-looking-at-long-term-production-potential-in-malawi-167717.html
<![CDATA[News - Mkango Resources says Phalombe Licence renewal validates work so far ]]> http://www.proactiveinvestors.com/companies/news/167555/mkango-resources-says-phalombe-licence-renewal-validates-work-so-far-167555.html The two year renewal of the Phalombe Licence by the  Malawi government is a strong validation of work completed so far and the site's potential, rare earths explorer Mkango Resources Ltd (CVE:MKA, CVE:MKA) told investors.

Phalombe hosts the group's flagship Songwe Hill project, along with the Nkalonje, Mantrap, Knoll and Namangale prospects.

The licence has been renewed until January 2019, the firm said in a corporate update.

An updated prefeasibility study for Songwe released in November last year envisaged production of 2,841 tonnes of rare earths in mixed chemical concentrate per year over an 18 year mine life.

The project's net present value also rose 18% to US$345mln using an average price for a basket of rare earths of US$59.8kg, while the up-front capital expenditure was forecast at US$216mln.

Rare earth exploration is an evolving field and the Phalombe licence was recently visited by a large delegation in connection with the €5.4 million HiTech AlkCarb research project led by the Camborne School of Mines, University of Exeter and funded under the European Union's Horizon 2020 Research and Innovation programme in which Mkango is an industry partner.

The study has particular relevance to Mkango in its scope to better understand the potential for large, unexposed mineralised bodies of carbonatite, the host rock for rare earth mineralisation, on either a prospect or regional scale.

Such targets at may include the summit of Songwe hill and the Nkalonje vent system where and geophysics work will cover the areas to further assess their potential as future drill targets. 

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Tue, 18 Oct 2016 08:03:00 -0400 http://www.proactiveinvestors.com/companies/news/167555/mkango-resources-says-phalombe-licence-renewal-validates-work-so-far-167555.html
<![CDATA[RNS press release - Holding in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20160930104120_012985282/ Fri, 30 Sep 2016 05:41:20 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20160930104120_012985282/ <![CDATA[News - Mkango chief upbeat on rare earths outlook ]]> http://www.proactiveinvestors.com/companies/news/129857/mkango-chief-upbeat-on-rare-earths-outlook-129857.html Mkango Resources Ltd's (LON:MKA, CVE:MKA) second quarter charted significant progress and it sees a positive outlook for prices of rare earths and uranium.

The results are the first since it listed on London's AIM on June 15, raising £1mln in the process, which will provide for 18 months' working capital, it said today.

For the three months to end June, and in keeping with an explorer, the firm posted a net loss of US$699,213 (2015: US$1.17mln).

Cash at end of period was US$1.12mln compared to $62,303 at the same time last year.

It's been a busy few weeks. Earlier this month it said it had identified two more potential rare earths targets at its  Phalombe licence in Malawi from an airborne survey funded by the World Bank.

In July, it secured a two-year exclusive deal to acquire the worldwide licence for a rare earths processing technology.

William Dawes, chief executive, told investors today that he was pleased with the results.

"The company believes that prices for rare earths and uranium are at a cyclical low, with a positive outlook geared to growth in cleantech applications, technology and the low carbon economy," he said.

"We continue to explore partnership opportunities for both the Songwe and Thambani projects with a view to accelerating exploration and development of the projects for the benefit of all stakeholders."

In-depth - Mkango’s Aim listing a major milestone, says chief executive

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Wed, 31 Aug 2016 07:44:00 -0400 http://www.proactiveinvestors.com/companies/news/129857/mkango-chief-upbeat-on-rare-earths-outlook-129857.html
<![CDATA[RNS press release - 2nd Quarter Results ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20160831070007_012948258/ Wed, 31 Aug 2016 02:00:07 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20160831070007_012948258/ <![CDATA[RNS press release - Holding in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20160825115331_012943860/ Thu, 25 Aug 2016 06:53:31 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20160825115331_012943860/ <![CDATA[News - Mkango investor Williams increases holding to 18% ]]> http://www.proactiveinvestors.com/companies/news/129311/mkango-investor-williams-increases-holding-to-18-129311.html Mkango Resources Ltd (LON:MKA CVE:MKA) investor Christopher Williams on June 15 acquired 4,257,754 common shares of the company at a price of six cents per common share ($255,465 in total).

Williams also acquired 4,257,754 warrants entitling the holder to acquire one common share of the company at a price of 12 cents for three years. The common shares and warrants were acquired by Mr. Williams pursuant to a placing by the company in conjunction with its admission to the AIM market.

Prior to this acquisition, Williams had ownership of and control over 3,548,128 common shares (assuming the exercise of 887,032 common share purchase warrants), which represented approximately 5% of the company's issued and outstanding common shares.

After the placing acquisition, Williams had ownership of and control over 12,063,636 common shares representing approximately 17% of the company's issued and outstanding common shares and an increase of 12%.

On August 9, Williams acquired 730,000 common shares of the company over the facilities of AIM at a price of seven cents per common share ($51,100 in total). As a result, assuming the exercise of all warrants he holds, Williams currently has ownership of and control over a total of 12,793,636 common shares, representing approximately 18% of the issued and outstanding common shares of the company.

Williams acquired the securities that are the subject of this press release for investment purposes. Depending on market conditions and other factors, Mr. Williams may from time to time acquire and/or dispose of securities of the company or continue to hold his current position.

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Fri, 12 Aug 2016 17:05:00 -0400 http://www.proactiveinvestors.com/companies/news/129311/mkango-investor-williams-increases-holding-to-18-129311.html
<![CDATA[RNS press release - Holding in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20160810175607_012926919/ Wed, 10 Aug 2016 12:56:07 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20160810175607_012926919/ <![CDATA[News - Mkango identifies more rare earths targets in Malawi ]]> http://www.proactiveinvestors.com/companies/news/129147/mkango-identifies-more-rare-earths-targets-in-malawi-129147.html Mkango Resources Ltd (LON:MKA CVE:MKA) has identified two more potential rare earths targets in Malawi from an airborne survey funded by the World Bank.

The survey covered Mkango's Phalombe licence though not the flagship Songwe Hill project where a pre-feasibility study has already been carried out.

Nkalonje and Namangale, two other vent systems in the Phalombe licence, were indicated by the survey as having potential for rare earths.

In both cases, the survey recorded strong thorium radiometric anomalies coincident with the vents, which are known as a highly effective tool for rare earths exploration, though they do not feature large areas of outcropping carbonatite, the host rock for rare earths at Songwe Hill.

Outcrops of carbonatite veins and dykes however may indicate a possible carbonatite body below surface, in particular at Nkalonje.

 William Dawes, Mkango’s chief executive, said: "The airborne survey further supports the rare earths exploration potential of the broader Phalombe licence area.

The Songwe project itself has significant resource upside, both laterally and to depth, and together with other targets in the Phalombe licence, underpins Mkango's potential to be a long term, sustainable producer of rare earths.”

 

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Tue, 09 Aug 2016 08:08:00 -0400 http://www.proactiveinvestors.com/companies/news/129147/mkango-identifies-more-rare-earths-targets-in-malawi-129147.html
<![CDATA[News - Mkango secures exclusive licence for acid production process ]]> http://www.proactiveinvestors.com/companies/news/128613/mkango-secures-exclusive-licence-for-acid-production-process-128613.html Mkango Resources Ltd (LON:MKA, CVE:MKA) has secured a two-year exclusive deal to acquire the worldwide licence for a rare earths processing technology.

The process, which produces high strength hydrochloric acid (HCL) for industrial applications, was developed by researchers at the McGill University in Montreal, Canada. 

The group’s Songwe Hill rare earths project incorporates an HCL gangue leach step, producing calcium chloride in solution.

The HCL will be regenerated using the calcium chloride feed stream together with sulphuric acid produced from sulphur at a plant on site, essentially removing the need to import large quantities of liquid HCL.

Mkango said this will bring significant potential cost and logistical benefits. The group will also investigate the production of a gypsum by-product for sale in Malawi.

“This technology is not only applicable for Songwe but potentially for other primary carbonatite hosted rare earths projects. We are also interested in evaluating the technology's use in other industrial applications where high strength hydrochloric acid is required,” said chief executive William Dawes.

"Mkango strives to be at the forefront of technology development in the rare earths sector and is collaborating in a number of other leading edge research programmes including HiTech AlkCarb and SoS RARE."

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Tue, 26 Jul 2016 07:33:00 -0400 http://www.proactiveinvestors.com/companies/news/128613/mkango-secures-exclusive-licence-for-acid-production-process-128613.html
<![CDATA[News - Mkango Resources chief hails Thambani licence airborne data ]]> http://www.proactiveinvestors.com/companies/news/128097/mkango-resources-chief-hails-thambani-licence-airborne-data-128097.html Mkango Resources Ltd (LON:MKA, CVE:MKA) chief executive William Dawes said the group was 'excited' about the results of a recent airborne survey over two thirds of its 137 sq km  Thambani licence in Malawi.

The work was part of a US$25 million World Bank funded nationwide airborne programme flown at 250 metre spacing.

Dawes said it further confirmed "significant potential for uranium, niobium, tantalum and other minerals in the Thambani licence".

"This area benefits from good infrastructure, including roads, power and a new railway line passing through the south of the licence area. To date, the market has yet to recognize Thambani's potential and we continue to look at opportunities to maximise value."

Among highlights, the survey confirmed a previously-identified uranium anomaly measuring at least 3km by 1.5 km, along the western flank of the Thambani East ridge.

It also found  a number of magnetic anomalies not previously identified, including a 2.3 km linear magnetic high anomaly along the Thambani East Ridge and a  1 km by 0.5 km magnetic high anomaly to the north.

These areas require further investigation to determine their significance and establish whether they are related to mineralisation or geological features, Mkango said.

WATCH - MKANGO CEO SAYS NEW DATA CONFIRMS MALAWI AS SERIOUS MINING DESTINATION ]]>
Tue, 12 Jul 2016 08:08:00 -0400 http://www.proactiveinvestors.com/companies/news/128097/mkango-resources-chief-hails-thambani-licence-airborne-data-128097.html
<![CDATA[News - Mkango gives back to the community ]]> http://www.proactiveinvestors.com/companies/news/127909/mkango-gives-back-to-the-community-127909.html It is not all about digging up earth for mining companies as Mkango Resources Ltd (CVE:MKA, LON:MKA) proved in a new video on its web site.

The film features a number of activities sponsored by Mkango under its numerous corporate social responsibility programmes at its Songwe project in Phalombe, in Malawi.

Recent activities include the construction of a new bridge linking a number of communities together; classroom painting in collaboration with its local partner boNGO Worldwide, community netball and football competitions and refurbishment of water boreholes.

"One of Mkango's core principles is to ensure that there will be poverty reduction, improved education and empowerment of previously disadvantaged groups within the communities that we work in. Therefore, it is important for us to implement meaningful, sustainable and successful social responsibility programmes commensurate with the stage of exploration and development, " said Alexander Lemon, president of Mkango.

Meanwhile, investors who are awaiting further news on the recent acquisition of airborne data that covers the majority of its Phalombe and Thambani licences in Malawi were informed that the company is currently analysing the data and will update the market in due course.

The main targets in the Thambani licence are uranium, niobium and tantalum, whereas rare earths are the major area of focus in the Phalombe licence.

The analysis incorporates historical datasets and geological information generated by Mkango and from historical exploration.

This regional generative and follow- up work complements Mkango's focus on its flagship project, the advanced stage Songwe Hill rare earths project for which a pre-feasibility study was completed in November 2015.

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Wed, 06 Jul 2016 08:49:00 -0400 http://www.proactiveinvestors.com/companies/news/127909/mkango-gives-back-to-the-community-127909.html
<![CDATA[Media files - Mkango CEO says new data confirms Malawi as serious mining destination ]]> http://www.proactiveinvestors.com/companies/stocktube/5186/mkango-ceo-says-new-data-confirms-malawi-as-serious-mining-destination-5186.html Mon, 27 Jun 2016 15:39:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/5186/mkango-ceo-says-new-data-confirms-malawi-as-serious-mining-destination-5186.html <![CDATA[News - Mkango to acquire airborne survey for Malawi licences ]]> http://www.proactiveinvestors.com/companies/news/127407/mkango-to-acquire-airborne-survey-for-malawi-licences-127407.html Rare earths junior Mkango Resources Ltd (LON:MKA CVE:MKA) is to acquire new airborne data that covers the majority of its Phalombe and Thambani licences in Malawi.

A nationwide airborne geophysical survey over Malawi has recently been carried out as part of a US$25mln World Bank-funded project.

High resolution airborne geophysics was flown at 250 metre spacing, while there were uranium, potassium and thorium radiometric surveys, a magnetic survey, a gravity survey and raw data production.

The Phalombe and Thambani licences have excellent potential for rare earths and uranium, respectively, said Alexander Lemon, Mkango’s president.

In addition, a five-year Geological Mapping and Mineral Assessment Project (GEMMAP), which encompasses ground truthing of the airborne geophysical survey, also got underway last week.

The French government is supporting the project, which aims to acquire geo-scientific and mineral occurrence data.

Malawi was last mapped in the 1950s and 1960s using aerial photography with very limited follow up ground work, said Mkango.

GEMMAP will be implemented by a consortium of the Malawian Geological Survey, French Geological Survey (BRGM), Council for Geosciences of South Africa and the Geological Survey of Finland (GTK).

Lemon said:  "We believe GEMMAP will significantly enhance Malawi's credentials as an investment destination for exploration and mining.

“Auspiciously, GEMMAP was launched on the same day as Mkango's very successful listing on AIM."

Shares in Mkango were little changed at 4.88p having risen sharply since their AIM debut.

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Wed, 22 Jun 2016 15:17:00 -0400 http://www.proactiveinvestors.com/companies/news/127407/mkango-to-acquire-airborne-survey-for-malawi-licences-127407.html
<![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20160620145117_012860913/ Mon, 20 Jun 2016 09:51:17 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20160620145117_012860913/ <![CDATA[News - Mkango’s Aim listing a major milestone, says chief executive ]]> http://www.proactiveinvestors.com/companies/news/127148/mkangos-aim-listing-a-major-milestone-says-chief-executive-127148.html “This is a major milestone,” says Will Dawes of Mkango Resources Ltd (CVE:MKA, LON:MKA).

This morning the company added an Aim listing to its existing Venture Exchange listing, with the shares steady in early trade at 3.62p.

In the process Mkango also raised £1 mln.

After years of tough mining equity markets a combined capital raising and new listing have become comparatively rare.

Even Tharisa, which listed on the main board in London a week or so ago, didn’t raise any money.

But Mkango has got several unique selling points that it can put in front of new and existing investors in the UK.

It is the only focussed rare earths company listed on Aim. And it’s the only Aim-listed exploration company focused on Malawi.

Specialised it may be, but the potential payoffs could be significant.

“We started off with an early stage exploration target,” says Dawes. “Over the last five years we’ve taken that project all the way through drilling and resource definition to the point where it is now beyond the pre-feasibility stage.”

Indeed, an updated pre-feasibility study put out by the company at the end of last year showed Songwe Hill to have an after-tax net present value of US$345 mln

The study put the internal rate of return at 37% and estimated total production as likely to come in at 2,841 tonnes of rare earths oxide over an 18 year mine life.

What’s more, the rare earths in question are likely to be much in demand over the coming years, as over 80% of the company’s production value contains rare earths used in high growth permanent magnet applications.

So, while the company’s low cost structure insulates it on the downside, there is nonetheless plenty of upside on offer too.

It’s this value proposition that London investors will now be offered.

So far, they’ve taken to it pretty well. The £1 mln raise was all done in London, and the aim now is to widen the investor base further.

“Listing in London gives us a great platform as the project progresses to a more advanced stage,” says Dawes.

“A further objective is to improve liquidity and to close the value gap in relation to peers. There is a strong affinity between the UK and Malawi, and a good understanding of Africa in the London market. Coupled with our listing in Canada, we are well positioned moving forward”

The company’s management is already largely based either in the UK or in Malawi, so there are certain operational synergies.

The plan now will be to undertake further work on Songwe Hill with a view to lowering capital expenditure and operating costs still further.

The current studies show that it will take US$216 mln to build, already amongst the lowest in the sector for rare earths projects. Ongoing work might well cause that number to be tweaked a bit before full-blown feasibility work can begin.

“The pre-feasibility study identified opportunities to reduce operating costs” says Dawes. “I’m confident we can be a lowest cost quartile producer.”

If he can deliver on that aspiration, then getting the funding to build at Songwe Hill could become a compelling proposition.

  

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Wed, 15 Jun 2016 10:24:00 -0400 http://www.proactiveinvestors.com/companies/news/127148/mkangos-aim-listing-a-major-milestone-says-chief-executive-127148.html
<![CDATA[RNS press release - Mkango Resources announces first day of trading ]]> http://www.proactiveinvestors.com/companies/rns/6737/LSE20160615070009_012854153/ Wed, 15 Jun 2016 02:00:09 -0400 http://www.proactiveinvestors.com/companies/rns/6737/LSE20160615070009_012854153/ <![CDATA[News - Mkango Resources completes shares consolidation ]]> http://www.proactiveinvestors.com/companies/news/127110/mkango-resources-completes-shares-consolidation-127110.html Mkango Resources Ltd (CVE:MKA) has completed a share consolidation in anticipation of its impending listing on London’s Alternative Investment Market, commonly referred to as ‘Aim’, in the middle of this month.

The company completed a C$1.8mln placing, and will consolidate shares at a ratio of three old shares to one new share.

The consolidation has been approved by the TSX Venture Exchange and directors of Mkango expect the shares to list on London’s junior market on 15 June, 2016, or shortly thereafter

It currently has roughly 121mln issued and outstanding common shares, but after the consolidation, this will reduce to around 40mln.

Mkango will retain its listing on the TSX Venture Exchange.

The expected proceeds of the placing will provide the corporation with sufficient working capital for a minimum period of one and a half years from completion of the placing, Mkango said.

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Tue, 14 Jun 2016 07:54:00 -0400 http://www.proactiveinvestors.com/companies/news/127110/mkango-resources-completes-shares-consolidation-127110.html
<![CDATA[News - Mkango to take Aim in mid-June ]]> http://www.proactiveinvestors.com/companies/news/126621/mkango-to-take-aim-in-mid-june-126621.html Mkango Resources Ltd (CVE:MKA) is set to list on London’s Alternative Investment Market, commonly referred to as ‘Aim’, in the middle of this month.

The directors expect the shares to list on London’s junior market on 15 June, 2016, or shortly thereafter. Mkango will retain its listing on the TSX Venture Exchange.

The company will be taking the opportunity to raise fresh capital when it makes its debut on Aim, with institutional investors having signed up to buy more than £1mln (around C$1.89mln) of Mkango shares.

In conjunction with the placing of shares and the admission to Aim, the company intends to undertake a share capital consolidation on the basis of one new share for every three old shares, which will have the effect of reducing the number of shares in issue by two-thirds to 40.42mln.

Based on the consolidated share capital, Mkango will be placing the new shares at 3.3 pence (p) per unit, with each unit comprising one common share of Mkango and one purchase warrant – a common enough practice in Canadian circles but a tad unconventional on the UK market.

The warrants can be exercised at a price 6.6p.

UK shares are traditionally priced in pence, rather than pounds and fractions thereof.

The expected proceeds of the placing will provide the corporation with sufficient working capital for a minimum period of one and a half years from completion of the placing, Mkango said.

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Wed, 01 Jun 2016 08:43:00 -0400 http://www.proactiveinvestors.com/companies/news/126621/mkango-to-take-aim-in-mid-june-126621.html
<![CDATA[News - Mkango more than halves losses and boosts cash pile ]]> http://www.proactiveinvestors.com/companies/news/126463/mkango-more-than-halves-losses-and-boosts-cash-pile-126463.html Mkango Resources (CVE:MKA) more than halved its losses thanks to exchange rate translation and boosted its cash pile when it reported first-quarter results on Thursday.

Cash and cash equivalents at March 31 were at C$87,774 versus C$63,066 at March 2015.

The company achieved a reduced total comprehensive loss of C$106,112 in the first three months of 2016, versus a loss of C$269,569 in the first three months of 2015.

The exchange difference on translating foreign operations turned in income of C$188,544 versus a loss of C$15,570 in the earlier period.

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Thu, 26 May 2016 15:40:00 -0400 http://www.proactiveinvestors.com/companies/news/126463/mkango-more-than-halves-losses-and-boosts-cash-pile-126463.html
<![CDATA[News - Mkango receives commitments for C$1.9mln ]]> http://www.proactiveinvestors.com/companies/news/126340/mkango-receives-commitments-for-c19mln-126340.html Mkango Resources Ltd. (CVE:MKA) said on Tuesday it had received commitments for over one million pounds sterling (approximately C$1.9mln) to date in relation to a London listing.

The placing is conditional on admission to the Alternative Investment Market of the London Stock Exchange by June 30.

As previously announced, in conjunction with and subject to successful completion of both the placing and admission to AIM, the corporation proposes to undertake a 1:3 consolidation on the basis of three pre-consolidation shares for one post-consolidation share. The consolidation would have the effect of reducing the number of shares outstanding prior to the placing from 121,256,956 to 40,418,985.

Under the terms of the placing, the corporation will issue 30,303,030 post-consolidation units at a post-consolidation price of 3.3 pence per unit.
Each unit will consist of one common share of the corporation and one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at a price of 6.6 pence for a period of three years following the closing date of the placing.

If the closing price of the common shares on AIM exceeds 19.8 pence for at least 20 consecutive trading days following the date that is four months after the date of issuance of the warrants, the corporation shall have the right, exercisable within three business days thereafter, to accelerate the expiry of the warrants to 20 business days after the issuance of a news release announcing the new expiry date.

The expected proceeds of the placing will provide the corporation with sufficient working capital for a minimum period of 1-1/2 years from completion of the placing.

SP Angel is nominated adviser and broker in relation to the proposed admission to AIM, and Jub Capital has been appointed placing agent for the placing.

Units will be offered and sold only to persons in jurisdictions to whom units may be offered and sold pursuant to the placing without breach of applicable securities laws.

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Tue, 24 May 2016 14:52:00 -0400 http://www.proactiveinvestors.com/companies/news/126340/mkango-receives-commitments-for-c19mln-126340.html