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Mkango Resources ( (TSE:MKA) ) has provided an update.
Mkango Resources Ltd. has successfully raised £2.34 million to advance its rare earth magnet recycling operations in the UK and Germany. This funding will support Mkango’s commercial production efforts and ongoing corporate costs, while also aiding in the development of its Germany operation. The company is also working on a Business Combination Agreement related to a SPAC transaction, potentially enhancing the value derived from its projects in Songwe Hill and Pulawy. The closure of the Subscription is anticipated by the end of January 2025, subject to regulatory approvals.
More about Mkango Resources
Mkango Resources Ltd. is an industry leader in the recycling and production of rare earth magnets, alloys, and oxides. The company operates through its interest in Maginito Limited, focusing on developing sustainable sources of neodymium, praseodymium, dysprosium, and terbium, which are crucial for electric vehicles, wind turbines, and clean energy technologies. The company has significant projects in the UK, Germany, and the US, as well as exploration initiatives in Malawi and a separation project in Poland.
YTD Price Performance: 19.50%
Average Trading Volume: 1,454,081
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £26.97M
For an in-depth examination of MKA stock, go to TipRanks’ Stock Analysis page.
