viewMkango Resources Ltd

Mkango CEO says new data confirms Malawi as serious mining destination

Will Dawes, chief executive officer at Mkango Resources Ltd (LON:MKA) says he is very excited about the Rare Earth sector going forward.

Just two weeks since listing on AIM, the group is to get its hands on new airborne data fund by the World Bank that will confirm it as a serious mining investment destination in the future.

The data will cover the group’s licenses in Malawi and confirm existing anomalies and compliment ongoing discovery programmes.

“We are one of the very few advanced stage Rare Earth projects and we’re the only focused Rare Earth company listed on AIM,” says Dawes.

He told Proactive Investors that he was confident of the fundamentals of Rare Earth going forward.

Dawes says that the outlook is “very good” over the next few years.

Touching on the feasibility study back in November at the Songwe Hill mine in Malawi, Dawes said it had revealed a lot of resource upside in what is a “major significant rare earth deposit”.

“We have identified areas where we can reduce costs, and that is a major focus for us at the moment.”

Quick facts: Mkango Resources Ltd

Price: 2.96 GBX

Market: LSE
Market Cap: £3.94 m

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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...

on 18/5/18

2 min read