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Mkango Resources ( (TSE:MKA) ) just unveiled an announcement.
Mkango Resources Ltd. has successfully closed a private placement, raising £3 million (approximately C$5.6 million) through the issuance of 10 million common shares. The proceeds will be used to fund recycling development costs in Germany and the UK, as well as ongoing corporate expenses. The shares have been admitted to trading on AIM and are subject to a statutory hold period in Canada. This financial move is expected to support Mkango’s strategic initiatives in rare earth recycling and enhance its market positioning in the clean energy sector.
More about Mkango Resources
Mkango Resources Ltd. is a company listed on the AIM and 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 significant interests in Maginito Limited, which is involved in rare earth magnet recycling in the UK, Germany, and the US, and also owns rare earth projects in Malawi and Poland.
See more insights into MKA stock on TipRanks’ Stock Analysis page.