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Mkango pockets £242 000 windfall on warrant exercise

25th November 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

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VANCOUVER (miningweekly.com) – TSX-V- and LSE Aim-listed Mkango Resources has reported that 3.86-million warrants have been exercised, booting its coffers by about £242 000.

A total of 3.45-million warrants were exercised at a price of 6.6 pence apiece and a further 418 000 warrants were exercised at a price of 3.5 pence each.

Mkango, which is focused on developing two critical rare earths projects in Malawi, recently got a significant boost when Noble Group subsidiary Talaxis made a £12-million investment that will enable the funding of a bankable feasibility study for its advanced Songwe Hill rare-earth project.

Under the terms of the deal, Mkango is also provided with a route to market for production from the future mine and Mkango is thrust into the rare earths spotlight as the preferred partner for Talaxis for future rare earths projects.

Edited by Samantha Herbst
Creamer Media Deputy Editor

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