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.