Mkango Advances To Phase II Of Neodymium Alloy Project With Metalysis And Raises £500,000 In Placing

Mkango Resources (AIM / TSX-V: MKA) (the “Company” or “Mkango”) is pleased to announce that it has commenced Phase II of its research and development (“R&D”) programme with Metalysis Limited (“Metalysis”) and has raised £500,000 (C$833,333) at 3.5 pence (C$0.058) per share in a placing (the “Placing”).
Will Dawes, Chief Executive of Mkango, commented:

“Mkango is now uniquely positioned in the rare earths sector and these very promising developments provide a strong platform for moving into Phase II R&D. Our collaboration with Metalysis enhances our ability to meet supply chain requirements for accelerating growth in the electric vehicle market, amongst other applications.
This programme is underpinned by our advanced stage Songwe Hill rare earths project in Malawi, where Mkango is spearheading the sustainable development of rare earths for the emerging, global low carbon economy.”

Click here to read the full text release.