TIDMMKA
RNS Number : 8760Z
Mkango Resources Limited
20 March 2017
MKANGO RESOURCES LTD.
706 27 Avenue NW,
Calgary, Alberta T2M 2J3
MKANGO ANNOUNCES R&D PROGRAMME WITH METALYSIS TO DEVELOP 3D
PRINTED RARE EARTH MAGNETS FOR ELECTRIC VEHICLES
Calgary, Alberta: March 20, 2017 - Mkango Resources Ltd. (TSXV /
AIM: MKA) (the "Company" or "Mkango") is pleased to announce that
it has entered into a Memorandum Of Understanding ("MOU") with
Metalysis Limited ("Metalysis") to jointly research, develop and
commercialise novel rare earth metal alloys for use in
three-dimensional (3D) printed permanent magnets.
The MOU will combine Mkango's intelligence surrounding the
performance characteristics and future global demand outlook for
rare earth magnets with Metalysis' disruptive, solid-state process,
which can generate high margins from the manufacture of metal
powders for markets including 3D printing. Together, the parties
envisage a comprehensive research and development ("R&D")
programme, culminating in the joint pursuit of commercial
opportunities. One such opportunity includes evaluating the United
Kingdom as a future host country for a manufacturing plant to
exploit a commercialised technology.
Rare earth permanent magnets are a critical component of many
electric vehicles, as well as other consumer and green
technologies. China dominates the rare earth permanent magnet
industry, and with one of the few rare earths projects outside
China to have advanced beyond the pre-feasibility stage, Mkango is
well-placed to respond to the global demand outlook.
Mkango's share of the first phase of R&D costs will be
funded out of existing cash resources.
William Dawes, Chief Executive Officer of Mkango, said:
"We are very pleased to collaborate with Metalysis. It is a core
part of Mkango's strategy to be at the forefront of research and
technology in every step of the rare earths supply chain;
positioning the Company as a future low cost, sustainable supplier
of rare earths used in electric vehicles and other green
technologies, which have entered a new phase of accelerating demand
growth. The R&D programme will seek to enhance marketing
flexibility, increase future margins and affirm the Company's
competitive positioning."
About Metalysis Limited
Metalysis is a growing company, based in South Yorkshire, U.K,
with global rights to disruptive technology posing proven economic
and environmental benefits over traditional metal production
methods. The Company is committed to transforming the metals
industry through its patented process for producing Titanium,
Tantalum, other metals and innovative alloy powders.
Metalysis' process, originating from the University of Cambridge
and proven at industrial scale, can generate high margins from the
manufacture of metal powders for markets including 3D printing.
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
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