Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) said the government of Malawi has renewed the Thambani uranium, tantalum and niobium exploration licence and issued four retention licences for five years until mid-October 2026.
With the recent significant increase in international uranium prices, Mkango is reviewing its strategic exploration and development options, including opportunities for joint ventures and other ways to increase project value, it said.
Work so far on Thambani has identified a number of potential uranium and associated niobium-tantalum targets over the Thambani Massif, and in nearby areas such as the Little Ngona river between the East and West ridges and near Chikoleka village in the far north of the licence areas.
The down-dip extension of surface uranium-tantalum-niobium mineralisation on the East ridge is currently being investigated further to locate targets, it said.
Mkango’s flagship project is the Songwe Hill rare earths project in Malawi with a feasibility study targeted for completion in the first quarter of 2022.