REG - Mkango Resources Ltd - MKANGO RELEASES Q1 2024 FINANCIAL STATEMENTS

Mkango ResourcesAnnouncement

30/05/2024 07:00

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RNS Number : 3479Q  Mkango Resources Limited  30 May 2024

 

 

 

 

MKANGO RESOURCES
LTD.

550 Burrard
Street

Suite
2900

Vancouver

BC V6C
0A3

Canada

 

30 May 2024

 

Mkango releases Q1 2024 financial statements

 

LONDON and VANCOUVER, British Columbia, 30 May 2024 (GLOBE NEWSWIRE) -- Mkango
Resources Ltd (AIM / TSX-V:MKA) (the "Company" or "Mkango"), is pleased to
announce that it has released the Financial Statements and Management's
Discussion and Analysis for the three month period ended 31 March 2024. The
reports are available under the Company's profile on SEDAR (www.sedar.com
(//www.sedar.com) ) and on the Company's website
(https://mkango.ca/investors/financials/
(https://mkango.ca/investors/financials/) ).

 

To view the Financial Statements, please click here:
http://www.rns-pdf.londonstockexchange.com/rns/3479Q_1-2024-5-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3479Q_1-2024-5-29.pdf)

 

To view the Management Discussion and Analysis, please click
here: http://www.rns-pdf.londonstockexchange.com/rns/3479Q_2-2024-5-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3479Q_2-2024-5-29.pdf)

 

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango's corporate strategy is to
become a market leader in the production of recycled rare earth magnets,
alloys and oxides, through its interest in Maginito Limited ("Maginito"),
which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to
develop new sustainable sources of neodymium, praseodymium, dysprosium and
terbium to supply accelerating demand from electric vehicles, wind turbines
and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct
and indirect interest (assuming conversion of Maginito's convertible loan) in
HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and
Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK
Ltd ("Mkango UK"), focused on long loop rare earth magnet recycling in the UK
via a chemical route.

Maginito and CoTec are also rolling out HyProMag's recycling technology into
the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project and an
extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt
exploration portfolio in Malawi, and the Pulawy rare earths separation project
in Poland. Discussions with the Government of Malawi in relation to the Mining
Development Agreement for Songwe Hill are ongoing.

For more information, please visit www.mkango.ca (http://www.mkango.ca)

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of
that term under applicable securities laws) with respect to Mkango. Generally,
forward looking statements can be identified by the use of words such as
"targeted", "plans", "expects" or "is expected to", "scheduled", "estimates"
"intends", "anticipates", "believes", or variations of such words and phrases,
or statements that certain actions, events or results "can", "may", "could",
"would", "should", "might" or "will", occur or be achieved, or the negative
connotations thereof. 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, receipt of TSX-V approval for the Subscription, the
availability of (or delays in obtaining) financing to develop Songwe Hill, and
the various recycling plants in the UK, Germany and the US as well as the
separation plant in Poland, governmental action and other market effects on
global demand and pricing for the metals and associated downstream products
for which Mkango is exploring, researching and developing, geological,
technical and regulatory matters relating to the development of Songwe Hill,
the ability to scale the HPMS and chemical recycling technologies to
commercial scale, competitors having greater financial capability and
effective competing technologies in the recycling and separation business of
Maginito and Mkango, availability of scrap supplies for recycling activities,
government regulation (including the impact of environmental and other
regulations) on and the economics in relation to recycling and the development
of the various recycling and separation plants of Mkango and Maginito and
future investments in the United States pursuant to the cooperation agreement
between Maginito and CoTec, the outcome and timing of the completion of the
feasibility studies, cost overruns, complexities in building and operating the
plants, and the positive results of feasibility studies on the various
proposed aspects of Mkango's, Maginito's and CoTec's activities. The
forward-looking statements contained in this news release are made as of the
date of this news release. Except as required by law, the Company disclaims
any intention and assume 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 on Mkango, please contact:

Mkango Resources Limited

 

William
Dawes
Alexander Lemon

Chief Executive Officer                  President

will@mkango.ca
alex@mkango.ca

Canada: +1 403 444 5979

www.mkango.ca (http://www.mkango.ca)

@MkangoResources

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Caroline Rowe, Kasia Brzozowska

UK: +44 20 3470 0470

 

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 20 7186 9004/5

 

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