Mkango Resources (CVE:MKA) this week reported turning a net loss into net income with its fiscal 2015 earnings.
Net income per share for the year ended December 31, 2015, was $0.01 versus a net loss per share of $0.03 in 2014.
A net loss of $2.3mln in 2014 became a net income of $530,294 in the latest year, the company reported.
Total assets grew to $252,935 versus $185,678 a year earlier, and liabilities halved to $984,747.
The principal business of Mkango Resources is rare earth element and associated minerals exploration and development with two properties in the Republic of Malawi, Africa, including the Phalombe exploration licence and the Thambani exploration licence.