Mkango Resources (MKA)

Sector:

Mining

Index:

FTSE AIM All-Share

 19.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 37.50p
  • 52 Week Low: 18.50p
  • Currency: UK Pounds
  • Shares Issued: 215.21m
  • Volume: 0
  • Market Cap: £42.50m

Mkango upbeat on sampling results from Nkalonje Hill

By Josh White

Date: Thursday 07 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Mkango Resources updated the market on its exploration programme at the Nkalonje Hill rare earths project on Thursday, having completed initial sampling and ground geophysics.
The AIM-traded firm said the project is 14 kilometres from its Songwe Hill rare earths development project.

It said mapping, sampling and ground geophysical data was obtained at Nkalonje in the fourth quarter of 2021, following up on "encouraging" historical regional geophysical data.

Assays of carbonatite dyke samples returned grades of up to 5.92% total rare earth oxides, with a median of 2.96%.

Mapping and geophysics results, meanwhile, confirmed that the major geological features of Nkalonje Hill were those of an alkali silicate-carbonatite intrusive complex, similar to Songwe Hill.

Geophysics also identified a primary shallow drilling target beneath exposed mineralised dykes, as well as a secondary deeper drilling target.

"We are extremely encouraged by the recent exploration results for the Nkalonje Hill rare earths project," said company president Alexander Lemon.

"The targets generated from the mapping and geophysics data are exciting indicators of the potential for further mineralisation at depth."

Lemon said the similarities between Nkalonje and Songwe Hill, and the high total rare earth oxide grades from the assay results, demonstrated a "strong case" for further investigation.

"In the long term, the close proximity of Nkalonje to Songwe provides a good potential source of additional rare earth element feedstock for processing at Songwe."

At 1208 BST, shares in Mkango Resources were down 6.12% at 23p.

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MKA Market Data

Currency UK Pounds
Share Price 19.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 37.50p
52 Week Low 18.50p
Volume 0
Shares Issued 215.21m
Market Cap £42.50m

MKA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.37% below the market average56.37% below the market average56.37% below the market average56.37% below the market average56.37% below the market average
46.77% below the sector average46.77% below the sector average46.77% below the sector average46.77% below the sector average46.77% below the sector average
Price Trend
3.52% below the market average3.52% below the market average3.52% below the market average3.52% below the market average3.52% below the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average
Income Not Available
Growth Not Available

MKA Dividends

No dividends found

Trades for --2022

Time Volume / Share Price
0 @ 0.000p

MKA Key Personnel

CEO William (Will) Drummond Dawes

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