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Mkango Resources ( (TSE:MKA) ) just unveiled an update.
Mkango Resources and CoTec Holdings have announced that Intelligent Lifecycle Solutions (ILS) has started stockpiling feedstock as part of a supply and pre-processing agreement with HyProMag USA. This initiative is crucial for HyProMag USA’s rare earth magnet recycling and manufacturing plant in Texas, aiming to strengthen the U.S. supply chain for critical minerals. The project is expected to enhance the circular economy and critical mineral supply chains in the United States, with significant implications for stakeholders by unlocking new NdFeB scrap sources and generating value.
Spark’s Take on TSE:MKA Stock
According to Spark, TipRanks’ AI Analyst, TSE:MKA is a Neutral.
The overall stock score is driven primarily by the company’s weak financial performance due to persistent losses and lack of revenue. While technical analysis indicates positive momentum, the valuation remains unattractive due to negative earnings and lack of dividends. The absence of earnings call details and corporate events leaves the financial and technical aspects as the primary influences on the score.
To see Spark’s full report on TSE:MKA stock, click here.
More about Mkango Resources
Mkango Resources Ltd. is a company listed on the AIM and TSX-V, focusing on becoming a market leader in the production of recycled rare earth magnets, alloys, and oxides. It aims to develop sustainable sources of neodymium, praseodymium, dysprosium, and terbium to meet the growing demand from electric vehicles, wind turbines, and other clean energy technologies. CoTec Holdings Corp. is a publicly traded investment issuer on the Toronto Venture Stock Exchange and OTCQB, committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions.
Average Trading Volume: 68,974
Technical Sentiment Signal: Buy
Current Market Cap: C$265.4M
See more insights into MKA stock on TipRanks’ Stock Analysis page.