TIDMMKA
Mkango Resources Limited
01 March 2017
MKANGO RESOURCES LTD.
706 27 Avenue NW,
Calgary, Alberta T2M 2J3
MKANGO RESOURCES CORPORATE UPDATE
Calgary, Alberta: March 1, 2017 - Mkango Resources Ltd. (TSXV /
AIM: MKA) (the "Company" or "Mkango") is pleased to provide a
corporate update.
March 2017 Work Programme
Following the collaboration agreement signed with Noble
Resources International ("Noble") and GBP450,000 placing in
December 2016, Mkango has completed preparatory work in relation to
the advanced stage Songwe Hill rare earths project ("Songwe") and
the Thambani uranium project, with the following work programme
planned for March:
- Exploration to commence on the Thambani uranium project as
discussed in the press release announced on 2 February 2017;
- Processing test work to commence in South Africa focused on
improving the flotation and hydrometallurgical portions of the flow
sheet for Songwe, thereby potentially lowering operating costs;
- Ongoing flotation research at Camborne School of Mines as part of SoS Rare (http://www.bgs.ac.uk/SoSRARE/?src=topNav); and
- Continued evaluation of new growth opportunities in the rare
earths and green technology metal space.
The Mkango executive team will be in Asia late March focused on
developing future partnership opportunities, and will also be
participating in the 7(th) China Rare Earths Market Conference in
Ganzhou, China on 22-24 March 2017.
Appointment of Blytheweigh
Mkango is pleased to announce that it has appointed Blytheweigh
as its financial public relations and investor relations
consultant, effective March 1, 2017. Blytheweigh is a London and
Johannesburg based specialist financial public relations and
investor relations agency with a focus on small to mid-cap listed
companies. The agreement with Blytheweigh provides for a monthly
fee of GBP2,000 per month and runs for an initial term of 6 months
with a thirty-day notice of termination provision. Blytheweigh does
not have any direct or indirect interest in Mkango or its
securities and no incentive stock options have been granted to
Blytheweigh. Information on Blytheweigh can be found at
www.blytheweigh.com
William Dawes, Chief Executive of Mkango, stated:
"We are entering an exciting time for Mkango, as we kick off the
next phase of work for the Songwe Hill rare earths project and
Thambani uranium project, two commodities with strong outlooks.
Mkango, with one of the few advanced stage rare earths projects
outside China as well as the recently announced collaboration with
Noble Group, one of the world's largest commodity traders, is
therefore well positioned as the recovery in the rare earths sector
gathers momentum. We look forward to working with Blytheweigh
during this transformational period.
Growth in electric vehicle demand and other green technologies
will have a huge impact on the rare earths sector. For example, BHP
Billiton and BP are forecasting that there will be 140 million and
100 million electric vehicles by 2035, respectively, versus around
1 million today. This would require multiple new sources of rare
earths supply to meet demand. Similarly, a European Union report
recently concluded that the European Union is vulnerable to supply
bottlenecks of rare earths used in electric vehicles and wind
power, more so than, for example, lithium."
About Mkango Resources Limited
Mkango's primary business is the exploration for rare earth
elements and associated minerals in the Republic of Malawi, a
country whose hospitable people have earned it a reputation as "the
warm heart of Africa." Mkango holds, through its wholly owned
subsidiary Lancaster Exploration Limited, a 100% interest in two
exclusive prospecting licenses in southern Malawi, the Phalombe
licence and the Thambani licence.
The main exploration target in the Phalombe licence is the
Songwe Hill rare earths' deposit, which features carbonatite hosted
rare earth mineralisation and was subject to previous exploration
in the late 1980s. Mkango completed an updated Pre-feasibility
Study for the project in November 2015. Mkango's strategy for
Songwe is to further optimise the project with a view to maximising
efficiency and reducing costs, thereby providing a strong platform
for entering into partnerships, marketing and offtake arrangements.
The main exploration targets in the Thambani licence are uranium,
niobium, tantalum and other associated minerals.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will
occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause actual performance and
results in future periods to differ materially from any estimates
or projections of future performance or results expressed or
implied by such forward-looking statements. Such factors and risks
include, without limiting the foregoing, delays in obtaining
financing or governmental or stock exchange approvals. The
forward-looking statements contained in this press release are made
as of the date of this press release. Except as required by law,
the Company disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law. Additionally, the Company undertakes no
obligation to comment on the expectations of, or statements made
by, third parties in respect of the matters discussed above.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
UK: +44 207 3722 744
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Nick
Elwes
UK: +44 207 138 3204
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Jeff Keating , Caroline Rowe
UK: +44 20 3470 0470
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any equity or other securities of
the Company in the United States. The securities of the Company
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") and may not be offered
or sold within the United States to, or for the account or benefit
of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRASEMFIAFWSEIE
(END) Dow Jones Newswires
March 01, 2017 02:01 ET (07:01 GMT)
Mkango Resources (LSE:MKA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mkango Resources (LSE:MKA)
Historical Stock Chart
From Apr 2023 to Apr 2024