Mkango Resources Share Discussion Threads

[dingo75] 02/2/2017 09:47

this doesn't need promotion, watch and wait.

[andy] 02/2/2017 09:36

mikeroot52 Feb '17 - 09:25 - 177 of 178 0 0
MKA makes the penny stock post this morning -

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Wow! Who's the guy that runs the PSP?

He's backing Cloudtag and Mkango on the same day!

Says it all really!

[andy] 02/2/2017 09:32

mikeroot,

They said they didn't need any finance for 18 months, as recently as the presentation last autumn, and then did a placing!



Dingo,

"soil and rock chip samples" are at the START of exploration, before the more accurate drilling starts!

And that's the cheap end, drilling is where the real money gets spent.

[mikeroot5] 02/2/2017 09:25

MKA makes the penny stock post this morning - seems fairly bullish. Not needing addtional finance is a big tick for the management IMO.

[drinkscotch] 02/2/2017 09:24

Dingo
This is not just about Uranium, they have high amounts of niobium here, as well as Tantalum. You're looking at what could be a pretty exciting project on its own.
Took another pinch today
;)

[dingo75] 02/2/2017 09:12

It's ok Andy, no-ones forced to buy.

However the Thambani Project is far from Grass roots.
Already a lot of work has gone into this project. now the uranium market is hotting up again, perfect time to drill again.

Previous assays are V encouraging.

The first set of assay results of 142 soil and rock chip samples from Little Ngona and Chikoleka previously returned variably anomalous U, Nb and Ta values ranging up to 4.70 % U3O8, 3.25 % Nb2O5 in soil and up to 0.42 % U3O8, 0.78 % Nb2O5 and 972 ppm Ta2O5 in rock chips.

[andy] 02/2/2017 08:57

Dingo,

Sure many other companies need capex too, which is why they ultimately fail of course. Nkamgo require about 30 times cap to complete the REE side of things, can you think of a company that has ever achieved that?

Out of 1,000 mining juniors in Canada only a handful ever turn into a mine. The capex requirement is often the reason for that.

The uranium project here is about as grass roots as it gets! "further mapping, soil and rock chip sampling, trenching and ground truthing of new geophysical anomalies."

[dingo75] 02/2/2017 08:07

Uranium Project a go & Historical Lithium to go for also...nice

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MKANGO TO COMMENCE 2017 WORK PROGRAMME ON ITS THAMBANI URANIUM PROJECT IN MALAWI

Calgary, Alberta: February 2, 2017 - Mkango Resources Ltd. (TSXV / AIM: MKA) (the "Company" or "Mkango") is pleased to provide an update on its 100% owned Thambani uranium project in Malawi.

Following recent management site visits, Mkango plans to commence its 2017 exploration programme in the Thambani licence area during the first quarter.

The programme will comprise follow up of the results of the World Bank airborne geophysics survey reported in 2016 (hxxp://www.mkango.ca/s/news.asp?ReportID=755345) and of previous exploration programmes completed by Mkango, and will include but is not limited to further mapping, soil and rock chip sampling, trenching and ground truthing of new geophysical anomalies.

Whilst uranium (and associated tantalum and niobium) is the primary focus of the exploration programme, Mkango will also evaluate the licence for its lithium potential. The Thambani licence area is host to pegmatite occurrences, which can be a potential host rock for lithium. Furthermore, historical reports refer to an occurrence of a lithium mineral in the licence area. However, these need further geological investigation to determine the significance, and the main focus is on uranium.

The Company aims to commence field work following the end of the rainy season in Malawi, usually late February or early March.

All costs associated with the work programme will be covered out of existing cash resources.

Alexander Lemon, President of Mkango, stated: "The market is clearly seeing renewed interest in uranium projects in recent months following moves by Kazakhstan to cut production and the increasingly apparent lack of supply for new reactors being brought online over the next five years in countries such as India and China. Our strategy for the project remains to bring in a joint venture partner, but we believe that we will enhance value for our shareholders in the near term by pushing ahead with a clearly defined, low cost exploration programme following the end of the rainy season in Malawi. We look forward to updating shareholders in the near future."

In relation to the Songwe Hill rare earths project, Mkango will be providing an update on flow sheet optimization in due course.

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.

For more information, please visit www.mkango.ca.

[dingo75] 01/2/2017 16:25

Noble weren't granted 12% of the equity at over twice today's price for nothing.
There will be developments on this in the near term.

[dingo75] 01/2/2017 16:23

Sure there is the expenditure to get it into production, the same with hundreds of other companies. However they own this valuable asset, songwe hill and there are many ways to skin a cat + A Uranium project that has excellent grades and widths.

For £2.6m. There is no other world class REE project selling for so little.

This valuation wont last.

[andy] 01/2/2017 15:42

dingo,

Then the little matter of over $100 million capex to sort out for a £3 million company!

[dingo75] 01/2/2017 07:54

New Presentation Out



check the figures for their REE project. all for £3m @ 3.5p. ludicrously cheap

[andy] 31/1/2017 15:03

Well there are plenty of lithium companies around.

ask yourself, do Mkango have any spare cash to go pursuing another venture?

I must admit I was surprised to hear Cornwall might host a lithium deposit, but all good for the fledgling UK mining industry.

[dingo75] 31/1/2017 13:03

Who knows. follow the lithium is all i'm doing!!!

[andy] 31/1/2017 12:03

That's a bit tenuous!

Apart from a director in common, which is hardly rare in the mining industry, I don't see any obvious "links" personally.

[dingo75] 31/1/2017 11:55

potential "Cornish Lithium" Link

from LSE...



Derek Linfield non exec chairman of MKA and director of Cornish Lithium

[dingo75] 25/1/2017 16:03

Correction
mk cp £2.6m!¬!¬

[dingo75] 25/1/2017 15:56

Ticking up

Commodity Giant Noble has options over 12.5% of tiny MKA.
and those two swiss funds injected funds late December.
A lot of bank for your buck @ £3m

[ny boy] 18/1/2017 17:45

There were a few excitable posters back last June saying this was going to 10p,20p, here 7 months later,it's still only 3p & change..what happened?

[drinkscotch] 18/1/2017 15:06

Took a large helping of this.

Cheapest REE asset on the market.that includes tsx,asx,lse.

32mt worth $350m and the value on market is £shy of 3m sterling.



other assets to be injected so keep eye on things

[sweet karolina] 20/12/2016 12:31

Andy,

They have been running the whole thing on a shoe string from day 1 and hence why they diluted Canadian shareholders to oblivion. From their Q3 results it was clear that they would need to raise money in the spring, they have taken the opportunity to get some money in early and I do not blame them for doing that, it is the sensible thing to do.

Nothing has really changed, MKA still do not have a partner to fund the BFS. Personally I think they are significantly underestimating how much the BFS will cost. There was very little drilling done for the PFS and much more will be needed before anyone would put up the capital costs for a full mining project.

They have been touting this project around for over 2 years now without any real interest. Maybe Noble can help them find someone, maybe not. Malawi does not have much in the way of mining experience and infrastructure and because the PFS was done to a bare minimum standard there is quite a lot of risk that the BFS will not stack up.

TW and BMD get a bit rabid about MKA. Of course they are going to need to raise relatively small amounts of money to mark time whilst they pray that someone is going to come along with the big money needed to advance the project. Anyone investing here is gambling that someone will come along. They probably have 12 - 18 months to find someone and get cracking on the BFS before the licence becomes in jeopardy and no one wants to know. As whoever does come along will need to put up all the money for the BFS I would expect them to also take a controlling slice of the project. How much reward there would be for MKA shareholders is debatable. On a risk reward basis I do not think MKA is a wise investment. Why anyone would think I need to eat humble pie over that is beyond me.

[andy] 19/12/2016 10:00

"Complementary to and on the basis of the Agreement, Mkango has raised GBP450,000 (GBP430,125 net of finders' fees) from existing shareholders and new institutional investors."

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How long were they saying they didn't need to raise money for 18 months for?

Even at the recent presentation they repeated it, and TW said they would need to do one within months!

And now they have raised it...........

[mikeroot5] 19/12/2016 09:27

Decent review of todays RNS can be found here.

[andrbea] 19/12/2016 09:05

3% rise
why not the 36% from early on, news warrants it
weak market this (in general)

[keya5000] 19/12/2016 07:54

Tidy I was hoping for one from SK with perhaps some humble pie?