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Mkango Resources ( (TSE:MKA) ) just unveiled an announcement.
Mkango Resources Ltd. has successfully closed its private placement by issuing 577,271 common shares at 11 pence each, raising funds primarily from its management team. This move strengthens Mkango’s financial position as it continues to focus on its strategic projects, including rare earth magnet recycling and the development of its Songwe Hill and Pulawy projects, which are crucial for meeting the increasing demand for rare earth elements in clean energy technologies.
More about Mkango Resources
Mkango Resources Ltd. is a company focused on becoming a leader in the production of recycled rare earth magnets, alloys, and oxides. It operates through its interest in Maginito Limited, which is involved in rare earth magnet recycling in the UK, Germany, and the US. Mkango also owns the Songwe Hill rare earths project in Malawi and the Pulawy rare earths separation project in Poland, aiming to supply the growing demand from electric vehicles, wind turbines, and other clean energy technologies.
YTD Price Performance: 28.93%
Average Trading Volume: 1,537,339
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £35.02M
See more insights into MKA stock on TipRanks’ Stock Analysis page.