Mkango Resources (MKA)

Sector:

Mining

Index:

FTSE AIM All-Share

29.00p
   
  • Change Today:
    -0.25p
  • 52 Week High: 37.50p
  • 52 Week Low: 15.75p
  • Currency: UK Pounds
  • Shares Issued: 214.58m
  • Volume: 132,665
  • Market Cap: £62.23m
  • Beta: 0.02

Mkango stake in HyProMag rises to 42pc

By Josh White

Date: Wednesday 03 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Mkango said on Wednesday that it was increasing its interest in HyProMag to 41.6% from 25%, following the exercise of HyProMag's its right to convert the £0.2m convertible loan, which formed part of the £0.5m financing package completed in January 2020, into shares.
The AIM-traded firm said cash retained by HyProMag would be used to support the scale-up of the patented 'Hydrogen Processing of Magnet Scrap' (HPMS) technology at University of Birmingham and Tyseley Energy Park.

It said HyProMag was set to become the UK's first producer of recycled, sintered NdFeB rare earth magnets and materials, as used in electric vehicles, wind turbines and consumer electronics.

Such magnets benefitted from an estimated 88% lower energy usage, and close-to-zero human toxicity compared to primary mining to separation to metal alloy to magnet production, the board said.

Mkango said it was evaluating further complementary opportunities to expand its position in rare earth recycling, benefiting from its increased strategic interest in HyProMag with associated offtake and supply rights, and HyProMag's early-mover competitive advantage in a sector with high technological barriers to entry.

"We are very pleased to increase our interest in HyProMag, which has the technology, team and network of partnerships to unlock the supply chain for rare earth magnet recycling," said chief executive officer William Dawes.

"We look forward to supporting its future growth as it scales up to commercial production and developing new opportunities for collaboration in the recycling sector.

"Recycling is a key component of Mkango's 'mine, refine, recycle' strategy and will become an increasingly important part of the rare earth supply chain in the UK, Europe and elsewhere."

At 1143 GMT, shares in Mkango Resources were down 0.43% at 30.12p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MKA Market Data

Currency UK Pounds
Share Price 29.00p
Change Today -0.25p
% Change -0.85 %
52 Week High 37.50p
52 Week Low 15.75p
Volume 132,665
Shares Issued 214.58m
Market Cap £62.23m
Beta 0.02

MKA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.97% below the market average67.97% below the market average67.97% below the market average67.97% below the market average67.97% below the market average
46.9% below the sector average46.9% below the sector average46.9% below the sector average46.9% below the sector average46.9% below the sector average
Price Trend
96.24% above the market average96.24% above the market average96.24% above the market average96.24% above the market average96.24% above the market average
98.58% above the sector average98.58% above the sector average98.58% above the sector average98.58% above the sector average98.58% above the sector average
Income Not Available
Growth
21.94% above the market average21.94% above the market average21.94% above the market average21.94% above the market average21.94% above the market average
16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average

MKA Dividends

No dividends found

Trades for 21-Jan-2022

Time Volume / Share Price
16:35 60 @ 30.00p
15:55 1,676 @ 29.23p
13:41 10,000 @ 28.53p
13:38 21,551 @ 28.61p
12:00 20,025 @ 28.61p

MKA Key Personnel

CEO William (Will) Drummond Dawes

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