Mkango Resources Announces SPAC Merger for NASDAQ Listing of Rare Earth Projects

Mkango Resources ( (TSE:MKA) ) just unveiled an update.

Mkango Resources Ltd has signed a letter of intent with Crown PropTech Acquisitions to merge its Songwe Hill and Pulawy Rare Earths Projects into a NASDAQ-listed entity via a SPAC merger. This strategic move aims to create a vertically integrated global rare earth platform, potentially enhancing Mkango’s market position. Mkango will maintain a majority interest in the new entity, which will not include its HyProMag recycling business. The transaction is subject to due diligence and regulatory approvals, and further details will be disclosed upon finalizing the agreement.

More about Mkango Resources

Mkango Resources Ltd is engaged in the production and recycling of rare earth elements, particularly focusing on neodymium, praseodymium, dysprosium, and terbium. The company aims to meet the increasing demand from clean energy sectors, including electric vehicles and wind turbines. Mkango holds interests in various projects, including the Songwe Hill rare earths project in Malawi and a separation project in Pulawy, Poland, alongside its interests in the Maginito Limited recycling business.

YTD Price Performance: 16.98%

Average Trading Volume: 1,212,222

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £28.19M

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