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Mkango Resources ( (TSE:MKA) ) has issued an update.
Mkango Resources Ltd has released its financial statements for the year ending December 2024, highlighting a cash position of $1.16 million and a subsequent $2.93 million raised through a private placement. The company is advancing its rare earth projects, including the Songwe Hill project in Malawi, which has signed a Mine Development Agreement with the government, and the Pulawy project in Poland, designated as a strategic project by the European Commission. Mkango is also progressing with rare earth magnet recycling and manufacturing projects in the UK, Germany, and the USA, with significant developments in infrastructure and production capabilities expected by 2025. The company’s strategic moves, including a potential NASDAQ listing through a business combination, position it as a key player in the rare earths industry, with implications for stakeholders in terms of market expansion and technological advancements.
More about Mkango Resources
Mkango Resources Ltd is a company listed on AIM and the TSX-V, focusing on 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. The company holds interests in various projects, including the Songwe Hill rare earths project in Malawi and the Pulawy rare earths separation project in Poland, as well as rare earth magnet recycling initiatives in the UK, Germany, and the USA.
YTD Price Performance: 136.48%
Average Trading Volume: 1,876,433
Technical Sentiment Signal: Sell
Current Market Cap: £63.24M
See more data about MKA stock on TipRanks’ Stock Analysis page.