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Mkango triggers investment condition with filing of technical report

Songwe is the main exploration target in the 80% held Phalombe licence

Songwe
The technical report is available under the company's profile on www.sedar.com

Mkango Resources Ltd (LON:MKA), the exploration and development company focused on Malawi, has filed a NI 43-101 technical report for its Songwe Hill Rare Earths Project.

The report relates to the resource update announced last month.

READ: Mkango Resources increases mineral resource estimate at Songwe

With the filing of the technical report, Mkango has fulfilled the condition for Talaxis Limited to advance the next tranche of investment, totalling £7mln, in accordance with the definitive agreements between Mkango and Talaxis announced on 18 May 2018.

The company has notified Talaxis of the fulfilment of this condition and will update the market on receipt of the investment, which will increase Talaxis's stake in Lancaster Exploration Limited, the company that holds the licence for Songwe, to 49%.

Quick facts: Mkango Resources Ltd

Price: 7.6 GBX

LSE:MKA
Market: LSE
Market Cap: £10.11 m
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