Mkango Resources

Primary ticker: AIM:MKA, TSXV:MKA
Stage of development: Exploration, Development
Primary minerals: Rare Earths
Project to promote: Songwe Hill Rare Earths Project

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Mkango Resources is focused on the development of the Songwe Hill rare earths project in Malawi, which has advanced from an early stage in 2010 through 3 phases of drilling, resource definition and extensive metallurgical test work to completion of an updated pre-feasibility study in November 2015, one of very few projects globally to have advanced beyond this stage and amongst the lowest capex in the sector. An updated resource was announced in February 2019, which forms the basis for the ongoing feasibility study, the latter fully funded by strategic partner, Talaxis, a subsidiary of Noble Group.

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Management Profile

William Dawes, CEO

William Dawes, CEO, is a graduate of Bristol University (BSc Geology) and the Royal School of Mines (MSc Mineral Exploration). He has over 25 years’ experience in the resources sector encompassing exploration, mining, equity research and investment banking, including roles at Rio Tinto, Robert Fleming, Chase Manhattan and JPMorgan. He was co-founder of Mkango Resources and has been CEO of the company for the last 9 years.

What is your rationale for attending 121 Mining Investment?

Raise the profile of the company, broaden the shareholder base and further engage with project finance providers as we advance the project to the development stage.

What recent news would you like to highlight to investors attending?

In February 2019, Mkango announced a 60 Per Cent increase in Measured And Indicated Resources, including the first Measured Resource For The Songwe Hill Rare Earths Project In Malawi. This triggered the £7m tranche of investment from Talaxis to complete the bankable feasibility study, which is currently ongoing and based on the updated resource estimate.

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Completion of metallurgical optimisation

6 Months:
Commencement of pilot testing

12 Months:
Completion of bankable feasibility study

In a sentence, what do you think makes your company such a compelling investment?

Mkango is developing one of the very few advanced stage rare earth projects globally with a bankable feasibility study ongoing, products geared to the EV revolution, a strong strategic partner and a market value largely underpinned by its strong cash position.