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MKA Mkango Resources Ltd

6.25
0.00 (0.00%)
Last Updated: 07:36:30
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mkango Resources Ltd LSE:MKA London Ordinary Share CA60686A4090 CMN SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.25 6.00 6.50 6.25 6.25 6.25 31,162 07:36:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 0 -5.99M -0.0236 -4.66 27.88M

Mkango Resources Limited Mkango renews Thambani Licence (7100O)

23/08/2017 7:00am

UK Regulatory


Mkango Resources (LSE:MKA)
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TIDMMKA

RNS Number : 7100O

Mkango Resources Limited

23 August 2017

MKANGO RESOURCES LTD.

706 27 Avenue NW,

Calgary, Alberta T2M 2J3

MKANGO RENEWS THAMBANI LICENCE

Calgary, Alberta: August 23, 2017 - Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango"), is pleased to announce that the Government of Malawi has granted a further two year renewal, from September 8, 2017, for Exclusive Exploration Licence ("EPL") 0303/10R3 ("the Thambani Licence"), in southwest Malawi.

The main exploration targets in the Thambani licence are uranium, niobium, tantalum, zircon and other associated minerals. In May 2017, Mkango announced the results of recent exploration at Thambani. Assay results from 85 rock grab samples returned high grade uranium, tantalum and niobium values, ranging up to 3.3 % U(3) O(8) , 1.9 % Ta(2) O(5) and 6.0 % Nb(2) O(5) . 35 of the samples graded above 500ppm U(3) O(8) and 24 graded above 1,000ppm U(3) O(8) . The May 2017 press release can be accessed via the following link: http://www.mkango.ca/s/news.asp?ReportID=790626. Mkango is currently evaluating strategic options for Thambani, including opportunities to joint venture or spin-off the project, and other potential avenues to create value.

About Mkango Resources Ltd.

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 licences 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. In December 2016, Mkango entered into an agreement with Noble Resources International to collaborate in the rare earths sector. In March 2017, Mkango entered into a MOU with Metalysis Limited to jointly research, develop and commercialise novel rare earth metal alloys for use in three-dimensional (3D) printed permanent magnets.

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, 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

 
 
            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 Corporation in the United States. The securities of the Corporation 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

MSCPTMFTMBBTBJR

(END) Dow Jones Newswires

August 23, 2017 02:00 ET (06:00 GMT)

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