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Zak Mir: ‘Mkango shares can almost double this summer if they do this one thing’

Minerals explorer Mkango Resources Ltd (LON:MKA) could almost double its share price over the summer months if it can post a weekly close above recent resistance of 4p, according to technical analyst Zak Mir.

“[There’s] a rising trend channel that can be drawn from this time last year, with the top of the channel heading towards 7p,” explains Mir in the latest Proactive Investors Bulletin Board.

“Really if we can get a decent weekly close above 4p, one would be looking for shares to hit that 7p zone over the next two to three months.”

Quick facts: Mkango Resources Ltd

Price: 5.15 GBX

Market: LSE
Market Cap: £6.85 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