http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Fri, 21 Sep 2018 14:48:12 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Mkango Resources receives more encouraging assays from drilling at Songwe Hill ]]> http://www.proactiveinvestors.co.uk/companies/news/205314/mkango-resources-receives-more-encouraging-assays-from-drilling-at-songwe-hill-205314.html Mkango Resources Ltd (LON:MKA) has received another batch of encouraging assay results from its Songwe Hill development in Malawi.

All nine drill holes intersected rare earth mineralisation, with grades in the best five holes up to 2.8% rare earth metals over widths of up to and over 30m.

READ: Mkango Resources adds to board as pace quickens at Songwe Hill

Mkango recently completed a 10,900m drill programme to formulate a mine plan as part of a feasibility study for the project.

William Dawes, chief executive, said four of the holes drilled were step-outs to test how far the deposit might expand to the north-west.

Assays are due from a further 66 drill holes totalling 8,396m.

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Thu, 20 Sep 2018 09:05:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/205314/mkango-resources-receives-more-encouraging-assays-from-drilling-at-songwe-hill-205314.html
<![CDATA[RNS press release - MKANGO ANNOUNCES LATEST DRILL RESULTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180920070004_13797460/ Thu, 20 Sep 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180920070004_13797460/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180918070019_13794054/ Tue, 18 Sep 2018 07:00:19 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180918070019_13794054/ <![CDATA[RNS press release - MKANGO ANNOUNCES EXERCISE OF WARRANTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180917143003_13793527/ Mon, 17 Sep 2018 14:30:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180917143003_13793527/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180914141540_13791797/ Fri, 14 Sep 2018 14:15:40 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180914141540_13791797/ <![CDATA[RNS press release - MKANGO ANNOUNCES DIRECTOR DEALINGS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180912070006_13787291/ Wed, 12 Sep 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180912070006_13787291/ <![CDATA[News - Mkango completes major drilling programme at Songwe Hill ]]> http://www.proactiveinvestors.co.uk/companies/news/204600/mkango-completes-major-drilling-programme-at-songwe-hill-204600.html Mkango Resources Ltd (LON:MKA)(CVE:MKA) shares rose on Tuesday as the miner announced that it has completed a major drilling programme at the Songwe Hill rare-earths project in Malawi. The drilling programme totalled 10,891 metres and comprised 91 drill holes to a maximum depth of 220 metres. 

The drilling programme is a key component of the ongoing initial phases of the Feasibility Study for Songwe.

WATCH: Mkango reports 'excellent first set of results' from drilling at Songwe Hill

Highlights from the results include 51.6 metres grading 1.9% total rare earth oxides, 161 metres grading 1.3 TREO and 43.4 metres grading 1.6% TREO.

 "We are very pleased to announce another excellent set of results from the recently completed major drill programme at Songwe, which is an integral part of the ongoing feasibility study,” said chief executive William Dawes.

“This is the largest drill programme to date in the history of the project and its successful completion is a great credit to the strong international and Malawian team on the ground. We look forward to announcing results from the remaining 75 drill holes totalling 9,259 metres."

In mid-morning trading, Mkango shares were 4.2% higher at 8.75p. 

 -- Adds share price --

 

 

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Tue, 11 Sep 2018 07:43:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/204600/mkango-completes-major-drilling-programme-at-songwe-hill-204600.html
<![CDATA[RNS press release - MKANGO COMPLETES MAJOR DRILLING PROGRAMME ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180911070009_13785524/ Tue, 11 Sep 2018 07:00:09 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180911070009_13785524/ <![CDATA[RNS press release - MKANGO ANNOUNCES EXERCISE OF WARRANTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180906070003_13780529/ Thu, 06 Sep 2018 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180906070003_13780529/ <![CDATA[RNS press release - MKANGO ANNOUNCES ISSUE OF OPTIONS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180831070003_13773774/ Fri, 31 Aug 2018 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180831070003_13773774/ <![CDATA[News - Mkango Resources adds to board as pace quickens at Songwe Hill ]]> http://www.proactiveinvestors.co.uk/companies/news/203763/mkango-resources-adds-to-board-as-pace-quickens-at-songwe-hill-203763.html Rare-earths project developer Mkango Resources Ltd (LON:MKA) has re-jigged its board with the appointment of three new non-executive directors while two are stepping down.

The three non-execs joining are finance and investor relations experts. Susan Muir has spent thirty-years in mining capital markets including most recently as investor relations vice president at gold miner Barrick. Sandra Du Toit is currently executive vice president with Standard Bank in South Africa, while Shaun Treacy is chief investment officer for private equity firm Arete Capital having worked at numerous investment banks.

Company secretary David Berg and another non-exec, Eugene Chen, will not stand for re-election at October’s AGM. Derek Linfield, the chairman, said the new directors broaden the company's international footprint and global network, following the transaction with Talaxis at the end of 2017.

Feasibility study

Talaxis, part of the Noble Group, will invest £12mln to fund a feasibility study at Songwe Hill in Malawi in return for a 49% stake in the rare-earths project. If it agrees to further funding Talaxis has an option to increase its stake in the project to 75%.

Mkango posted a loss of US$1.77mln (US$263,000) in the three months to June as it ramped up activity at Songwe Hill.

 

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Wed, 29 Aug 2018 07:59:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/203763/mkango-resources-adds-to-board-as-pace-quickens-at-songwe-hill-203763.html
<![CDATA[RNS press release - MKANGO ANNOUNCES BOARD CHANGES AND Q2 2018 RESULTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180829070004_13770530/ Wed, 29 Aug 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180829070004_13770530/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180824120908_13767870/ Fri, 24 Aug 2018 12:09:08 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180824120908_13767870/ <![CDATA[Media files - Mkango reports 'excellent first set of results' from drilling at Songwe Hill ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/10185/mkango-reports-excellent-first-set-of-results-from-drilling-at-songwe-hill-10185.html Tue, 21 Aug 2018 08:46:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/10185/mkango-reports-excellent-first-set-of-results-from-drilling-at-songwe-hill-10185.html <![CDATA[News - Mkango hits high-grade rare earths at Songwe Hill ]]> http://www.proactiveinvestors.co.uk/companies/news/203277/mkango-hits-high-grade-rare-earths-at-songwe-hill-203277.html Mkango Resources Ltd (LON:MKA) has hit high-grade rare earths across significant widths at the Songwe Hill project in Malawi.

Among the highlights from the first eight holes were 147.2 metres grading 1.6% total rare earth oxides (TREO) and 91 metres grading 1.5% TREO.

READ: Mkango Resources on 'clearly defined pathway' to production with drilling at Songwe Hill underway

So far 944 metres have been drilled of a planned 10,000-metre programme at Songwe Hill.

The drilling programme is a key component of the ongoing Feasibility Study for Songwe. 

“These are an excellent first set of results from the current programme and we look forward to announcing results from the remaining approximately 75 drill holes as they become available,” said chief executive William Dawes.

“The drill programme and planned resource update are fully funded following investments by Talaxis Limited totalling £6 million in January 2018. Talaxis will invest a further £7 million to fund completion of the feasibility study for Songwe on Mkango publishing an NI 43-101 technical report in relation to the resource update."

 

 

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Tue, 21 Aug 2018 07:47:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/203277/mkango-hits-high-grade-rare-earths-at-songwe-hill-203277.html
<![CDATA[RNS press release - MKANGO INTERSECTS RARE EARTH MINERALISATION ZONES ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180821070005_13762119/ Tue, 21 Aug 2018 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180821070005_13762119/ <![CDATA[News - Mkango Resources updates on drilling at Songwe Hill project ]]> http://www.proactiveinvestors.co.uk/companies/news/202496/mkango-resources-updates-on-drilling-at-songwe-hill-project-202496.html Mkango Resources Ltd (LON:MKA) has updated on a major diamond drilling programme at its Songwe Hill Rare Earths project in Malawi.

The AIM-listed miner said a total of 6,558m of drilling had been completed as of August 8, comprising 52 drill holes to a maximum depth of around 220 metres, with multiple zones of carbonatite, the primary host rock for rare earth mineralisation at Songwe, being intersected.

READ: Mkango commences major drilling programme at Songwe Hills

Mkango added that assay results from the first batch of samples from 8 drill holes totalling 944m were expected by the end of August, with a second batch of samples from 6 drill holes totalling 721m, having recently been dispatched for assay.

The drill programme is expected to total up to approximately 10,000m and is focused on infill drilling the existing indicated and inferred mineral resource estimates, testing extensions to the mineralisation and geotechnical drilling.

William Dawes, chief executive of Mkango, commented: “The drill programme is on track and we look forward to updating the market with the first set of results. Mkango is developing one of the few advanced stage rare earths projects globally. It is fully funded and well positioned to benefit from growing demand for neodymium and praseodymium used in permanent magnet motors for electric vehicles”.

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Thu, 09 Aug 2018 07:10:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/202496/mkango-resources-updates-on-drilling-at-songwe-hill-project-202496.html
<![CDATA[RNS press release - MKANGO PROVIDES AN UPDATE ON ITS DRILL PROGRAMME ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180809070004_13748964/ Thu, 09 Aug 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180809070004_13748964/ <![CDATA[News - Alternative Resource Capital initiates coverage of Mkango Resources as it sees Songwe Hill project as “globally significant” ]]> http://www.proactiveinvestors.co.uk/companies/news/202475/alternative-resource-capital-initiates-coverage-of-mkango-resources-as-it-sees-songwe-hill-project-as-globally-significant-202475.html Broker Alternative Resource Capital (ARC) has initiated coverage of AIM-listed miner Mkango Resources Ltd (LON:MKA), saying its Songwe Hill project in Malawi is “globally significant” for the rare earth elements (REE) market.

Analysts at the broker said that rare earth elements “are set to be the next commodity beneficiary of the emerging electric vehicle revolution”, although supplies were expected to tighten as China, the world’s dominant producer of REE “continues to rationalise its domestic industry”.

READ: Mkango commences major drilling programme at Songwe Hills

With this in mind, ARC said Songwe Hill is “one of the very few REE projects outside of China that we see having the potential to be brought into production over the next few years, its favourable orebody geometry and mineralogy amenable to simple, low-strip open-pit mining and relatively straightforward, low-temperature mineral processing”.

They added: “This underpins a predicted low-cost structure, with a capex requirement significantly below most of the peer group. We believe cash margins of [around] 60% could be sustained once in production, for average operational [underlying earnings] of >US$90mln [per year]”.

At the start of June, Makango said it had commenced a major diamond drilling programme at Songwe Hill, a key component of a Feasibility Study, which is fully funded by Talaxis Limited, a subsidiary of Singapore-listed commodities trader Noble Group Ltd.

ARC said that this agreement with Talaxis could expose Mkango to 25% of Songwe’s earning potential without any further funding “should Talaxis exercise its earn-in option in full”.

“Talaxis has firmly committed £12mln for a 49% stake to fund the [bankable feasibility study] (of which £5mln has been deployed to date, for 20%), and has an option to move to 75% (and 100% offtake rights) in return for financing the project build (estimated at US$216mln in the 2015 [preliminary feasibility study])” the broker added.

ARC also placed its net present value (NPV)-based evaluation for the group’s shares at around 20p currently but added that this could rise to 100p at production.

In late-morning trading Wednesday, Mkango shares were up 11.5% at 8.7p.

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Wed, 08 Aug 2018 11:37:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/202475/alternative-resource-capital-initiates-coverage-of-mkango-resources-as-it-sees-songwe-hill-project-as-globally-significant-202475.html
<![CDATA[News - Mkango Resources on 'clearly defined pathway' to production with drilling at Songwe Hill underway ]]> http://www.proactiveinvestors.co.uk/companies/news/202387/mkango-resources-on-clearly-defined-pathway-to-production-with-drilling-at-songwe-hill-underway-202387.html Mkango Resources Ltd (LON:MKA) said it has a “clearly defined pathway to production” after it kicked off a major diamond drilling programme at the Songwe Hill rare earths project in Malawi earlier this year.

The drilling programme is for 10,000 metres and is focused on infill, step-out and geotechnical drilling.

More than 50 drill pads have been constructed along with new access roads and enlarged camp infrastructure.

Mkango is targeting completion of an updated mineral resource estimate by the end of 2018.

The drilling programme is a key component for the feasibility study for Songwe, which is being fully funded by Noble Group Ltd subsidiary Talaxis.

Development deal with Talaxis

At the end of January, Talaxis invested an initial £5mln into Lancaster Exploration Limited - the subsidiary which holds the licence for Songwe Hill - in return for a 20% interest in the business.

Talaxis also invested £1mln into a new Mkango subsidiary, Maginito Limited, in return for a 24.5% interest in Maginito.

Once the updated resource estimate has been delivered, Talaxis can increase its stake in Lancaster to 49% through investing a further £7mln with an option to go up to 75% once the feasibility study is complete.

The feasibility study is expected to be completed by end 2019.

If Talaxis exercises its option, Mkango will retain a 25% interest, free carried to production.

Maginito will also receive a further £1mln once a second phase of R&D work is completed, which will take Talaxis’ stake to 49%.

Largest drill programme to date at Songwe

Among the most recent intercepts were 147.2 metres at 1.6% total rare earth oxides (TREO) and 91 metres at 1.5% TREO.

The latest results go to support the company's vision of a bulk tonnage operation, although we'll have to wait for the feasibility study to see how the numbers play out

“Mkango is fully funded to completion of a feasibility study with a clearly defined pathway to production,” said Dawes.

“We look forward to keeping the market updated as we progress through the drilling programme and other major milestones."

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Mon, 06 Aug 2018 14:17:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/202387/mkango-resources-on-clearly-defined-pathway-to-production-with-drilling-at-songwe-hill-underway-202387.html
<![CDATA[News - Mkango commences major drilling programme at Songwe Hills ]]> http://www.proactiveinvestors.co.uk/companies/news/198157/mkango-commences-major-drilling-programme-at-songwe-hills-198157.html Mkango Resources Ltd (LON:MKA) has commenced a major diamond drilling programme at the Songwe Hill rare earths project in Malawi.

The drilling programme is a key component of the Feasibility study for Songwe, which is being fully funded by Talaxis Limited, a subsidiary of Noble Group Ltd.  

READ: Mkango Resources subsidiaries receive investments totalling £6mln (C$10.5mln) from Talaxis

The drilling programme is for a minimum of 5,000 metres and will be focused on infill, step-out and geotechnical drilling. Over 50 drill pads have been constructed along with new access roads and enlarged camp infrastructure.

Mkango is targeting completion of an updated mineral resource estimate by the end of 2018.

 At that point, Talaxis will invest a further £7mln to fund completion of the feasibility study for Songwe.

 "We are delighted to announce the commencement of the drilling programme at Songwe,” said Mkango chief executive William Dawes.

“This is a culmination of extensive preparatory work completed over recent months and we are excited to kick off what will be the largest drill programme to date at Songwe. Mkango is fully funded to completion of a feasibility study with a clearly defined pathway to production. We look forward to keeping the market updated as we progress through the drilling programme and other major milestones."

 

 

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Mon, 04 Jun 2018 07:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/198157/mkango-commences-major-drilling-programme-at-songwe-hills-198157.html
<![CDATA[RNS press release - MKANGO COMMENCES MAJOR DRILLING PROGRAMME ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180604070007_13664776/ Mon, 04 Jun 2018 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180604070007_13664776/ <![CDATA[RNS press release - Mkango Q1 2018 Financial Statements and MDA ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180530070007_13658900/ Wed, 30 May 2018 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180530070007_13658900/ <![CDATA[Media files - Mkango Resources signs definitive agreement to develop Songwe Hill licence ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9328/mkango-resources-signs-definitive-agreement-to-develop-songwe-hill-licence-9328.html Fri, 18 May 2018 14:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9328/mkango-resources-signs-definitive-agreement-to-develop-songwe-hill-licence-9328.html <![CDATA[News - Mkango Resources signs off Songwe Hill development deal with Noble Group division ]]> http://www.proactiveinvestors.co.uk/companies/news/197264/mkango-resources-signs-off-songwe-hill-development-deal-with-noble-group-division-197264.html Rare earths group Mkango Resources Ltd (LON:MKA) has signed off its agreement with trading group Noble to develop the Songwe Hill licence in Malawi.

Talaxis, a subsidiary of Noble, will acquire up 75% of Lancaster Exploration, which holds the licence, and up to 49% of Maginito, a downstream rare earths business.

WATCH: Mkango Resources signs definitive agreement to develop Songwe Hill licence

Rare earths such as neodymium alloy powders are used in magnets expected to be used extensively in electric vehicles. 

Talaxis already has a 20% stake in Lancaster following an investment of £5mln in January.

That money will fund a drilling programme with a resource estimate scheduled by the end of the year.

At that point, Talaxis can increase its stake in Lancaster to 49% through investing a further £7mln with an option to go up to 75% once a feasibility study is complete.

The feasibility study is expected to be completed by end 2019.

If Talaxis exercises its option, Mkango will retain a 25% interest, free carried to production.

Maginito will also receive a further £1mln once a second phase of R&D work is completed, which will takes Talaxis’ stake to 49%.

Daniel Mamadou, an executive director of Talaxis said: "As the market for permanent magnet technology continues to grow rapidly, access to reliable sources of neodymium becomes key.”

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Fri, 18 May 2018 07:46:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197264/mkango-resources-signs-off-songwe-hill-development-deal-with-noble-group-division-197264.html
<![CDATA[RNS press release - MKANGO SIGNS DEFINITIVE AGREEMENTS WITH TALAXIS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180518070004_13646112/ Fri, 18 May 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180518070004_13646112/ <![CDATA[News - Mkango Resources says initial phases of the feasibility for Songwe Hill are underway ]]> http://www.proactiveinvestors.co.uk/companies/news/196324/mkango-resources-says-initial-phases-of-the-feasibility-for-songwe-hill-are-underway-196324.html Mkango Resources Ltd (LON:MKA, CVE:MKA) said the initial phases of the feasibility study for the Songwe Hill rare earths deposit has started.

Drilling is targeted to commence within the next month, once all drill roads and pads are completed, Mkango said.

READ: Mkango Resources well-positioned to progress the feasibility and development phases of Songwe Hill​

The plan is to drill a minimum of 5,000 metres, with the focus on infill, step-out and geotechnical drilling.

Meanwhile, metallurgical optimisation is underway at laboratories in Australia and Canada. The work programme has been scaled up following receipt of the Talaxis funding and is focused on flotation, hydrometallurgy and acid regeneration.

The Environmental, Social and Health Impact Assessment is underway and being completed in accordance with World Bank Standards and Equator Principles.


 


 

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Thu, 03 May 2018 08:13:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/196324/mkango-resources-says-initial-phases-of-the-feasibility-for-songwe-hill-are-underway-196324.html
<![CDATA[RNS press release - MKANGO PROVIDES UPDATE ON SONGWE ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180503070002_13628074/ Thu, 03 May 2018 07:00:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180503070002_13628074/ <![CDATA[News - Mkango Resources well-positioned to progress the feasibility and development phases of Songwe Hill ]]> http://www.proactiveinvestors.co.uk/companies/news/194970/mkango-resources-well-positioned-to-progress-the-feasibility-and-development-phases-of-songwe-hill-194970.html Mkango Resources Limited (LON:MKA) (TSX:MKA) is well-positioned to progress the feasibility and development phases of its Songwe Hill rare-earths prospect in Malawi, according to a management discussion and analysis report for the year ended December 31, published on its website Friday.

Following recent investments by Noble Group subsidiary Talaxis, the exploration and development company said the initial phases of the feasibility study include a diamond drilling programme and the publication of an updated mineral resource estimate.

READ: Mkango Resources subsidiaries receive investments totalling £6mln (C$10.5mln) from Talaxis

The group is also undertaking metallurgical optimisation and work on the ongoing environmental, social and health impact assessment of the project.

At the end of January, Talaxis invested an initial £5mln  into Lancaster Exploration Limited - the subsidiary which holds the licence for Songwe Hill - in return for a 20% interest in the business.

Talaxis also invested £1mln into a new Mkango subsidiary, Maginito Limited, in return for a 24.5% interest in Maginito.

A further £8mln will be invested by Talaxis into Lancaster and Maginito subject to a definitive joint venture agreement and the publication of the updated mineral resource estimate.

Mkango is aiming to develop the Songwe Hill project, along with complementary downstream opportunities in the rare earths supply chain, through Maginito, both of which are in partnership with Talaxis

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Fri, 13 Apr 2018 15:11:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194970/mkango-resources-well-positioned-to-progress-the-feasibility-and-development-phases-of-songwe-hill-194970.html
<![CDATA[RNS press release - Annual Financial Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180413070002_13603038/ Fri, 13 Apr 2018 07:00:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180413070002_13603038/ <![CDATA[RNS press release - MKANGO ANNOUNCES EXERCISE OF WARRANTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180301070016_13550170/ Thu, 01 Mar 2018 07:00:16 +0000 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180301070016_13550170/ <![CDATA[RNS press release - MKANGO ANNOUNCES EXERCISE OF WARRANTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180126150002_13511587/ Fri, 26 Jan 2018 15:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180126150002_13511587/ <![CDATA[Media files - Mkango Resources in unique position after £6mln funding boost ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8667/mkango-resources-in-unique-position-after-6mln-funding-boost-8667.html Fri, 26 Jan 2018 09:12:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8667/mkango-resources-in-unique-position-after-6mln-funding-boost-8667.html <![CDATA[RNS press release - MKANGO ANNOUNCES EXERCISE OF WARRANTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180125070003_13508675/ Thu, 25 Jan 2018 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/6737/LSE20180125070003_13508675/ <![CDATA[News - Mkango Resources subsidiaries receive investments totalling £6mln (C$10.5mln) from Talaxis ]]> http://www.proactiveinvestors.co.uk/companies/news/190571/mkango-resources-subsidiaries-receive-investments-totalling-6mln-c105mln-from-talaxis-190571.html Mkango Resources Ltd. (LON:MKA) (TSX-V:MKA) has announced that, following recent shareholder and exchange approvals, investments totalling £6mln (C$10.5mln) made by Talaxis Limited have been received by the rare earths explorer’s subsidiaries.

The AIM/TSXV listed firm said Talaxis has invested £5mln (C$8.8mln) into Lancaster Exploration Limited - the subsidiary which holds the licence for the advanced stage Songwe Hill rare earths project in Malawi - in return for a 20% interest in the business.

WATCH: Mkango in unique position after £6mln funding boost READ: Mkango signs 3-D magnets agreement with Metalysis

The group said the investment into Lancaster will fund the initial phase of the Feasibility Study for Songwe, including an extensive drilling programme starting in the second quarter of 2018.

It said Talaxis has also invested £1mln (C$1.8mln) into a new Mkango subsidiary, Maginito Limited, in return for a 24.5% interest in Maginito.

The group pointed out that Maginito is focused on neodymium alloy powders, magnet and other technologies relating to electric vehicles and other cleantech applications.

Mkango said a further £8mln (C$14mln) will be invested by Talaxis into Lancaster and Maginito subject to completion of definitive documentation and a number of milestones.

Mkango “uniquely positioned”

William Dawes, Mkango’s chief executive officer commented: "Following receipt of the investment from Talaxis, Mkango is uniquely positioned. We are one of very few companies with an advanced stage rare earths project fully funded to completion of a Feasibility Study with a clearly defined development pathway to production. This is complemented by downstream growth opportunities focused on the electric vehicle technology space.”

He added: “We look forward to working with Talaxis as well as the Government and people of Malawi as we move the project through the development phase to become a leading sustainable producer of rare earths."

Talaxis is the holder of 13.6% of the issued and outstanding common shares of Mkango. In addition to its shareholding, Talaxis also holds 12mln warrants Mkango which, upon exercise, could result in Talaxis holding 22.5% of the then-issued and outstanding shares of the group.

However, Talaxis has agreed with Mkango that it will not exercise any warrants which would increase its holding in the firm to 20% or more.

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