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Mkango Resources signs definitive agreement to develop Songwe Hill licence

Will Dawes, chief executive of Mkango Resources Ltd (LON:MKA), tells Proactive Investors they've signed off their agreement with trading group Noble to develop the Songwe Hill licence in Malawi.

Talaxis, a subsidiary of Noble, will acquire up to 75% of Lancaster Exploration, which holds the licence, and up to 49% of Maginito, a downstream rare earths business.

Quick facts: Mkango Resources Ltd

Price: 4.3 GBX

LSE:MKA
Market: LSE
Market Cap: £5.72 m
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Mkango Resources invests in rare earth magnets recycler

Mkango Resources Ltd's (LON:MKA, CVE:MKA) Will Dawes talks Proactive London through the news they're to buy a stake in a company that's developed a technology to recycle rare earth magnets. Mkango's taking a 25% stake for £300,000 and will provide a £200,000 convertible loan for HyProMag -...

on 23/9/19

2 min read