Mkango Resources (MKA)

Sector:

Mining

Index:

FTSE AIM All-Share

21.25p
   
  • Change Today:
    -0.25p
  • 52 Week High: 37.50p
  • 52 Week Low: 18.50p
  • Currency: UK Pounds
  • Shares Issued: 215.21m
  • Volume: 142,898
  • Market Cap: £45.73m

Mkango starts final stage of pilot plant test work for Songwe

By Josh White

Date: Tuesday 14 Dec 2021

LONDON (ShareCast) - (Sharecast News) - Mkango Resources announced the start of the final stage of hydrometallurgy pilot plant test work for the Songwe Hill Rare Earths project in Malawi on Tuesday.
The AIM-traded firm said design and engineering studies by lead engineer SENET were nearing completion, with the Songwe feasibility study targeted for the first quarter of next year.

It said rising rare earth prices and concerns over security of supply provided a favourable market backdrop, with accelerating demand geared to growth in green energy and technology applications.

The company said the piloting of the hydrometallurgy processing flowsheet was an "integral part" of the feasibility study, and a "critical step" towards commercialisation of the Songwe project.

It said the feed for the hydrometallurgy pilot plant was flotation concentrate derived from the successful flotation pilot programme, which was completed earlier in the year.

"This is a major milestone for the development of Songwe and further cements the company as being one of very few advanced stage rare earth project developers positioned to meet demand from accelerating growth in the electric vehicle sector, wind power generation and other industries driven by decarbonisation of the economy," said chief executive officer William Dawes.

"Mkango's integrated 'mine, refine, recycle' strategy is progressing on all fronts, encompassing development of sustainably produced light and heavy rare earths from Malawi, a rare earths separation and downstream hub in Poland, working with major Polish fertiliser and chemicals company Grupa Azoty Pulawy, and rare earth magnet recycling in the UK and Germany, via our interest in HyProMag."

At 1259 GMT, shares in Mkango Resources were down 0.33% at 30.15p.

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MKA Market Data

Currency UK Pounds
Share Price 21.25p
Change Today -0.25p
% Change -1.16 %
52 Week High 37.50p
52 Week Low 18.50p
Volume 142,898
Shares Issued 215.21m
Market Cap £45.73m

MKA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.51% below the market average56.51% below the market average56.51% below the market average56.51% below the market average56.51% below the market average
41.88% below the sector average41.88% below the sector average41.88% below the sector average41.88% below the sector average41.88% below the sector average
Price Trend
16.97% above the market average16.97% above the market average16.97% above the market average16.97% above the market average16.97% above the market average
26.39% above the sector average26.39% above the sector average26.39% above the sector average26.39% above the sector average26.39% above the sector average
Income Not Available
Growth Not Available

MKA Dividends

No dividends found

Trades for 28-Jun-2022

Time Volume / Share Price
11:10 35,000 @ 21.16p
10:18 5,000 @ 21.49p
10:07 70,000 @ 21.45p
09:44 11,664 @ 21.45p
09:00 1,160 @ 21.00p

MKA Key Personnel

CEO William (Will) Drummond Dawes

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