Mkango Resources Ltd (LON:MKO) closed out the three months to 31 March 2021 with just under C$3.7mln in the bank.
The loss for the three months ended March 31 was C$1.49mln, broadly flat on the comparable figure from a year earlier.
The company continues to work on a feasibility study for its Songwe Hill rare earths project in Malawi, and this should be completed by the fourth quarter of 2021.
Meanwhile, in early March Mkango completed its flotation pilot plant programme at ALS Metallurgy in Perth. Hydrometallurgical piloting is now underway at ANSTO in Australia.
Design and engineering studies by lead engineer SENET are continuing in parallel.