MKANGO RESOURCES LTD. : http://www.mkango.ca/ : QwikReport

News

#April 11, 2019
Mkango Announce Exercise Of Warrants

 London / Vancouver: April 11th 2019 - Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") announces the exercise of warrants over 515,151 common shares without par value in the share capital of the Company ("New Shares") at an exercise price of 6.6 pence each, for an aggregate consideration of £33,999.98.

The New Shares will rank pari passu with the existing shares and application has been made for the New Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Shares will commence at 8:00am on or around 17th April 2019. The New Shares will also trade on the Toronto Venture Exchange.

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission, its issued share capital will consist of 114,570,702 shares. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

About Mkango Resources Limited

Mkango's primary business is exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of Africa". The Company holds interests in three exclusive prospecting licenses in Malawi: the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.

The main exploration target in the 80% held Phalombe licence is the Songwe Hill rare earths deposit. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. Mkango completed an updated Pre-Feasibility Study for the project in November 2015 and a Feasibility Study is currently underway, the initial phases of which included a 10,900 metre drilling programme and updated mineral resource estimate.

The main exploration targets in Mkango's remaining two 100% held licences are, in the Thambani licence, uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.

For more information, please visit 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, its business and the Project. Generally, forward looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "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. Forward looking statements in this news release include statements with respect to the global market for products using the rare earth metals the Company is exploring for, completion of the feasibility study and of the transactions contemplated in the agreement with Talaxis, as well as the use of proceeds from the investments into the Company by Talaxis and the timing of such expenditures. 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, market demand for the metals and associated downstream products for which Mkango is exploring, researching and developing, the positive results of a feasibility study on the Project, delays in obtaining financing or governmental or stock exchange approvals. 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 assumes 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
Chief Executive Officer
[email protected]
UK: +44 207 3722 744
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

Alexander Lemon
President
[email protected]

Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Julia Tilley
UK: +44 207 138 3204

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470

Alternative Resource Capital
Joint Broker
Alex Wood, Rob Collins
UK: +44 20 7186 9004; +44 20 7186 9001

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
File: http://www.mkango.ca/i/pdf/nr/2019-04-11_NR-ha862hakjw.pdf
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#March 28, 2019
Mkango Announces Receipt Of £7 Million (C$12.3 Million) Investment From Talaxis To Fund Completion Of The Feasibility Study For The Songwe Hill Rare Earths Project In Malawi

 London / Vancouver: March 28, 2019 - Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango"), the rare earths exploration and development company focused on Malawi, is pleased to announce that following the publication of a NI 43-101 Technical Report (the "Technical Report") for the Songwe Hill Rare Earths Project ("Songwe") resource update on March 21, 2019, Talaxis Limited ("Talaxis") has invested an additional £7 million into Lancaster Exploration Limited ("Lancaster"), which is the holder of the licence for Songwe. As a result of this investment, Talaxis' equity interest in Lancaster will increase from 20% to 49%, with Mkango holding the remaining 51%.

The investment by Talaxis will fund completion of the Feasibility Study for Songwe, which is currently underway and expected to be completed in 2020. The updated resource described in the Technical Report will form the basis for the Feasibility Study. Following completion of the Feasibility Study, Talaxis has an option to acquire a further 26% interest in Songwe by arranging financing for project development including funding the equity component thereof.

William Dawes, Chief Executive of Mkango stated: "Mkango is uniquely positioned in the rare earths sector with an advanced stage rare earths project in a favourable jurisdiction and a strong strategic partnership with Talaxis providing the financial means and network of relationships throughout Asia and elsewhere to deliver a successful project."

Alexander Lemon, President of Mkango stated: "This project will be transformational for Malawi, empowering local communities and validating Malawi's credentials as one of Africa's premier investment destinations. We are very appreciative of the support we continue to receive from the Government of Malawi and all stakeholders as we progress through the Feasibility Study."

Daniel Mamadou, Director of Talaxis and co-Head of Technology Metals at Noble Group said: "Rare earths play a core role in our portfolio of technology metals. High performance electric motors and permanent magnet applications drives the demand for neodymium and praseodymium, making these elements key enablers of EV policies globally. The results of the drill campaign at Songwe are encouraging and point towards the potential of creating a world class asset. We are pleased to extend our strategic partnership with Mkango and to increase our investment in Songwe, which is one of the few advanced stage rare earths projects currently. We look forward to collaborating with Mkango to ensure this project is developed to its full potential."

Further details on the scope and other aspects of the Feasibility Study, and plans for 2019 will be announced in due course. The Technical Report is available under the Company's profile on www.sedar.com. The press release in relation to the resource update is available via the following link: https://www.mkango.ca/s/news.asp?ReportID=844546

About Mkango Resources Limited

Mkango's primary business is exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of Africa". The Company holds interests in three exclusive prospecting licenses in Malawi: the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.

The main exploration target in the 51% held Phalombe licence is the Songwe Hill rare earths deposit. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. Mkango completed an updated Pre-Feasibility Study for the project in November 2015 and a Feasibility Study is currently underway, the initial phases of which included a 10,900 metre drilling programme and updated mineral resource estimate.

The main exploration targets in Mkango's remaining two 100% held licences are, in the Thambani licence, uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.

For more information, please visit www.mkango.ca.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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, its business and the Project. Generally, forward looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "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. Forward looking statements in this news release include statements with respect to the global market for products using the rare earth metals the Company is exploring for, completion of the feasibility study and of the transactions contemplated in the agreement with Talaxis, as well as the use of proceeds from the investments into the Company by Talaxis and the timing of such expenditures. 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, market demand for the metals and associated downstream products for which Mkango is exploring, researching and developing, the positive results of a feasibility study on the Project, delays in obtaining financing or governmental or stock exchange approvals. 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 assumes 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
Chief Executive Officer
[email protected]
UK: +44 207 3722 744
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

Alexander Lemon
President
[email protected]

Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Julia Tilley
UK: +44 207 138 3204

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470

Alternative Resource Capital
Joint Broker
Alex Wood, Rob Collins
UK: +44 20 7186 9004; +44 20 7186 9001

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
File: http://www.mkango.ca/i/pdf/nr/NR-mar-28-2019.pdf
 1028 KB, approx. 3 minutes, 12 seconds at 56.6Kbps
 
#March 22, 2019
Mkango Files Technical Report in Relation to Resource Update for the Songwe Hill Rare Earths Project in Malawi

 London / Vancouver: March 22, 2019 - Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango"), the rare earths exploration and development company focused on Malawi, is pleased to announce that it has filed a NI 43-101 Technical Report (the "Technical Report") for the Songwe Hill Rare Earths Project ("Songwe") resource update announced on February 4, 2019.

With the filing of the Technical Report, Mkango has fulfilled the condition for Talaxis Limited ("Talaxis") to advance the next tranche of investment, totaling 7 million, in accordance with the definitive agreements between Mkango and Talaxis announced on May 18, 2018. The Company has notified Talaxis of fulfillment of this condition and will update the market on receipt of the investment, which will increase Talaxis' stake in Lancaster Exploration Limited, the company which holds the license for Songwe, to 49%.

The Technical Report is available under the Company's profile on www.sedar.com. The press release in relation to the resource update is available via the following link:
https://www.mkango.ca/s/news.asp?ReportID=844546

About Mkango Resources Limited

Mkango's primary business is exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of Africa". The Company holds interests in three exclusive prospecting licenses in Malawi: the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.

Songwe is the main exploration target in the 80% held Phalombe licence. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. Mkango completed an updated Pre-Feasibility Study for the project in November 2015 and a Feasibility Study is currently underway, the initial phases of which included a 10,900 metre drilling programme and updated mineral resource estimate.

The main exploration targets in Mkango's remaining two 100% held licences are, in the Thambani licence, uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.

For more information, please visit www.mkango.ca.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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, its business and the Project. Generally, forward looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "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. Forward looking statements in this news release include statements with respect to the global market for products using the rare earth metals the Company is exploring for, completion of the feasibility study and of the transactions contemplated in the agreement with Talaxis, as well as the use of proceeds from the investments into the Company by Talaxis and the timing of such expenditures. 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, market demand for the metals and associated downstream products for which Mkango is exploring, researching and developing, the positive results of a feasibility study on the Project, delays in obtaining financing or governmental or stock exchange approvals. 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 assumes 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
Chief Executive Officer

UK: +44 207 3722 744
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

Alexander Lemon
President

Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Julia Tilley
UK: +44 207 138 3204

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470

Alternative Resource Capital
Joint Broker
Alex Wood, Rob Collins
UK: +44 20 7186 9004; +44 20 7186 9001

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

File: http://www.mkango.ca/i/pdf/nr/2019-03-22_NR_MKA_vtaw2Qds.pdf
 993 KB, approx. 3 minutes, 6 seconds at 56.6Kbps
 
#March 11, 2019
Mkango Grants Stock Options

 Vancouver, British Columbia: March 11th, 2019 -- Mkango Resources Ltd (AIM / TSX-V:MKA) (the "Company" or "Mkango"), announces that, subject to regulatory approval, Mkango has granted a total of 1,800,000 stock options ("Options") to directors and officers of the Company. An additional 100,000 Options have been granted to a consultant of the Company.

The Options have an exercise price of $0.14 CDN per common share, will vest in four equal instalments over the next two years, with the first tranche vesting immediately, and are valid for a period of 10 years from the date of grant.

The Options granted to the following directors are in accordance with the Company’s stock Option plan pre-approved by shareholders.

Optionee Granted Options
Shaun Treacy NED 360,000
Sandra Du Toit NED 360,000
Susan Muir NED 360,000
William Dawes CEO 180,000
Alexander Lemon President 180,000
Adrian Reynolds NED 180,000
Derek Linfield NED Chairman 180,000

About Mkango Resources Limited

Mkango's primary business is exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as “the warm heart of Africa”. The Company holds interests in three exclusive prospecting licenses in Malawi: the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.

The main exploration target in the 80% held Phalombe licence is the Songwe Hill rare earths deposit. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. Mkango completed an updated Pre-Feasibility Study for the project in November 2015 and a Feasibility Study is currently underway, the initial phases of which included a 10,900 metre drilling programme and updated mineral resource estimate.

Under the terms of an agreement with Talaxis, Talaxis will fully fund the Feasibility Study for Songwe by investing 12 million for a 49% interest in the project (via Mkango subsidiary Lancaster Exploration Ltd). Talaxis will also have the option to acquire a further 26% interest by arranging funding for project development including funding the equity component thereof. If Talaxis exercises its option, Mkango will retain a 25% interest, free carried to production. To-date, Talaxis has invested 5 million, which has funded the initial phases of the Feasibility Study, for a 20% interest in the project, with Mkango holding 80%.

By investing a further 2 million, Talaxis will acquire a 49% interest in Maginito Ltd, a new subsidiary of Mkango focused on neodymium alloy powders, magnets and other technologies. This includes the collaboration with Metalysis Ltd announced in September 2017, which is focused on advanced alloys using neodymium or praseodymium with other elements for permanent magnet manufacturing. Permanent magnets are critical materials for most electric vehicles, direct drive wind turbines and many other high growth applications. Neodymium is a key rare earth component at Songwe. To date, Talaxis has invested 1 million for a 24.5% interest in Maginito with Mkango holding 75.5%.

The main exploration targets in Mkango’s remaining two 100% held licences are, in the Thambani licence, uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.

For more information, please visit www.mkango.ca.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM


1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Derek Linfield

2.     

Reason for the notification

a)

Position/status:

Non-Executive Chairman

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

180,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

180,000

e)

Date of the transaction:

11 March 2019

f)

Place of the transaction:

Outside a trading venue

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Alexander Lemon

2.     

Reason for the notification

a)

Position/status:

President and Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

180,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

180,000

e)

Date of the transaction:

11th March 2019

f)

Place of the transaction:

Outside a trading venue

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

William Dawes

2.     

Reason for the notification

a)

Position/status:

Chief Executive Officer

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

180,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

180,000

e)

Date of the transaction:

11th March 2019

f)

Place of the transaction:

Outside a trading venue

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Adrian Reynolds

2.     

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

180,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

180,000

e)

Date of the transaction:

11th March 2019

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Shaun Treacy

2.     

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

360,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

360,000

e)

Date of the transaction:

11th March 2019

f)

Place of the transaction:

Outside a trading venue

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Susan Muir

2.     

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

360,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

360,000

e)

Date of the transaction:

11th March 2019

f)

Place of the transaction:

Outside a trading venue

 

 

 

 

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Sandra Du Toit

2.     

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Limited

b)

LEI:

213800RPILRWRUYNTS85

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:
Identification code:

Common shares of nil pence each
CA60686A4090

b)

Nature of the transaction:

Issue of options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

$0.14 CDN 

360,000

d)

Aggregated information:
Aggregated volume:
Price:

Single transaction as in 4 c) above


Price(s)

Volume(s)

$0.14 CDN 

360,000

e)

Date of the transaction:

11th March 2019

f)

Place of the transaction:

Outside a trading venue

 

 

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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, its business and the Project. Generally, forward looking statements can be identified by the use of words such as “plans”, “expects” or “is expected”, “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. Forward looking statements in this news release include statements with respect to the global market for products using the rare earth metals the Company is exploring for, completion of the feasibility study and of the transactions contemplated in the agreement with Talaxis, as well as the use of proceeds from the investments into the Company by Talaxis and the timing of such expenditures. 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, market demand for the metals and associated downstream products for which Mkango is exploring, researching and developing, the positive results of a feasibility study on the Project, delays in obtaining financing or governmental or stock exchange approvals. 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 assumes 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
Chief Executive Officer

UK: +44 207 3722 744
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

Alexander Lemon
President

Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Julia Tilley
UK: +44 207 138 3204

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470

Alternative Resource Capital
Joint Broker
Alex Wood, Rob Collins
UK: +44 20 7186 9004; +44 20 7186 9001

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

File: http://www.mkango.ca/i/pdf/nr/2019-03-11_NR.pdf
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#February 04, 2019
Mkango Announces 60 Per Cent Increase In Measured And Indicated Resources, Including The First Measured Resource For The Songwe Hill Rare Earths Project In Malawi

 London / Vancouver: February 4, 2019 - Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango"), the rare earths exploration and development company focused on Malawi, is pleased to announce an updated mineral resource estimate for the Songwe Hill Rare Earths Project ("Songwe").
  • 60% increase in total Measured and Indicated Resources to 21 million tonnes ("mt"), including first Measured Resource estimate for Songwe
  • Majority of the previously delineated near surface Inferred Resource upgraded to either the Measured or Indicated categories
  • Key objectives of 2018 drilling programme achieved, with the updated resource underpinning the ongoing feasibility study
  • Approximately 95% of the Measured and Indicated Mineral Resource blocks are less than 160 metres ("m") below the surface of the hill indicating that the majority will be accessible by open pit mining
  • Updated and enlarged resource underpins Mkango's strategy to be a long term, sustainable producer of neodymium, praseodymium, dysprosium and terbium used in permanent magnet motors for electric vehicles, wind turbines and other clean technologies
  • Publication of the NI 43-101 Technical Report in relation to the resource update will trigger the next 7m milestone investment from Talaxis to fund completion of the feasibility study



William Dawes, Chief Executive of Mkango stated: "All the objectives for the 2018 drill programme have been achieved and we are very pleased to announce this increased resource at Songwe. This provides a solid platform for completion of a revised mine plan to be incorporated into the feasibility study. Based on the larger Measured and Indicated Resource, the feasibility study will evaluate opportunities to include more tonnes into the mine plan, expand operations, extend the mine life, reduce the strip ratio and therefore reduce mining costs."

The updated base case Mineral Resource Estimate equates to a 60% increase in the Measured and Indicated Resource tonnage and a 48% increase in the Inferred Resource tonnages versus the base case 2012 Mineral Resource Estimate, which formed the basis for the 2015 pre-feasibility study. The Mineral Resource is open at depth. The combined Measured and Indicated Mineral Resource Estimate, totaling 21mt grading 1.41% TREO, will form the basis of the updated mine plan for the ongoing feasibility study, which will evaluate a bulk tonnage, open pit mining operation focused on broad zones of near surface and outcropping rare earths mineralisation. The updated resource supersedes the 2012 Mineral Resource Estimate, and therefore renders the mining and economic information in 2015 pre-feasibility study obsolete. Updated mining and economic information will be generated as part of the ongoing feasibility study based on the new resource.

The Measured Mineral Resource Estimate comprises 42% of the combined Measured and Indicated Mineral Resource Estimate indicating a substantial increase in geological confidence to support the completion of the Feasibility Study.

The majority of the previously delineated near surface Inferred Mineral Resource Estimate has been upgraded to either the Measured or Indicated categories, achieving a key objective of the 2018 drill programme. Approximately 95% of the Measured and Indicated Mineral Resource Blocks are at a depth of less than 160m below the surface of the hill indicating that the majority will be accessible by open pit mining.

Bulk samples for pilot metallurgical test work totaling approximately 60 tonnes have been selected from areas within the Measured and Indicated Mineral Resource Estimates and a public awareness campaign to communicate progress of the project and explain the bulk sampling programme is underway in Malawi. Pilot testing will commence following export of the bulk sample and completion of ongoing metallurgical optimisation.

Mineral Resource Estimate

The Mineral Resource Estimate was independently prepared by The MSA Group of South Africa ("MSA"). Jeremy Witley Pr. Sci Nat. (the Qualified Person (QP) for the Mineral Resource Estimate) of MSA in collaboration and agreement with Dr. Scott Swinden, PGeo, the QP for the Exploration Information, has currently identified 1.0% TREO as an appropriate cut-off grade for the current Mineral Resource Estimate. This will be further refined over the course of the ongoing feasibility study. The Mineral Resource Estimates at different cut-off grades are illustrated in the table below.

Mineral Resource estimates at different cut--off grades1

1 Mineral resources are not mineral reserves and do not have demonstrated economic viability

The mineral resource has been drilled to a maximum depth of 355 m below the surface of Songwe Hill and is based on three phases of diamond drilling completed by Mkango in 2011, 2012 and 2018 totaling approximately 17,800 m in 125 drill holes. The areas drilled to date are in an elevated position on the northern slopes of Songwe Hill, which rises approximately 230 m above the surrounding plain. The mineral resource forms an irregular, roughly circular surface expression with a diameter of approximately 450 m. The maximum depth of the Inferred Mineral Resource is 390 m below surface, with the Measured and Indicated Mineral Resource occurring to a maximum depth of 200 m, paralleling the topographic surface of the hill and surrounding plain. The majority of the Measured and Indicated Mineral Resource occurs to a depth of approximately 160 m.

Geological domains, comprising Carbonatite, Mixed (altered and brecciated Carbonatite and Fenite) and Fenite dominant rock types, were used to guide the mineral resource evaluation. The Carbonatite dominant domain generally comprises a higher proportion of elevated TREO grade mineralisation than the Fenite dominant domain.

Key assumptions, parameters and methods used to estimate the Mineral Resources
  • The drillhole intersections were used to estimate proportions of carbonatite (defined for this estimate as >15% Ca) and non-carbonatite for each cell in a three dimensional block model by means of indicator kriging. TREO values and density were estimated for carbonatite and non-carbonatite separately for the entire model using ordinary kriging. The final grade for the block was derived by multiplying the estimated proportion of carbonatite and non-carbonatite in the block by the estimated grade of carbonatite and non-carbonatite;
  • The estimation block model cells are 20 mN by 20 mE by 5 mRL. The block models comprise sub-celled block dimensions of 5 mN x 5 mE x variable RL to closely fit the topography;
  • No capping or cutting to limit any input grade data was undertaken as part of the mineral resource estimation, extreme outlier grades not being a feature of this deposit;
  • Datamine Studio RM was the modelling package; and
  • The mineral resource was classified as Measured, Indicated and Inferred based on the degree of geological certainty and drillhole density, supported by confidence parameter outputs from kriging (Kriging Efficiency and Slope of Regression). In general, the Mineral Resource was classified as Measured where it occurs within a 30 m by 30 m drillhole grid, Indicated where the Mineral Resource occurs within a drillhole spacing of closer than 50 m by 50 m. Inferred Mineral Resources were declared within the more sparsely drilled areas and extrapolation from the closest drillhole was limited to 50 m.
Scientific and technical information contained in this release including sampling, analytical, and test data underlying the information has been approved and verified by Dr. Scott Swinden PGeo of Swinden Geoscience Consultants Ltd who is a "Qualified Person" in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Scientific and technical information contained in this release relating to the mineral resource estimate has been approved and verified by Jeremy Witley Pr. Sci Nat of The MSA Group Pty Ltd, who is a "Qualified Person" in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Mkango operated an industry-standard programme of strict QAQC protocols for drill hole analyses, including the insertion of blanks, standards and duplicates and check analyses of more than 3% of the samples carried out by Actlabs, Ancaster, Ontario. Sample preparation and analytical work for the drilling and channel sampling programmes were provided by Intertek-Genalysis Laboratories (Perth, Australia), employing ICP-MS techniques suitable for rare earth element (REE) analyses and following strict internal QAQC procedures, inserting duplicates, blanks and standards. Internal Laboratory QAQC was also completed to include blanks, standards and duplicates.

Verification activities were conducted by the Qualified Persons during site visits to Songwe and at the MSA office, and included the inspection of the drilling and trenching programmes, the review of core handling and core sampling procedures, the review of borehole data collection protocols and QA/QC systems, checks of the database against the original borehole logs, checks of the database against original Assay Certificates and the examination of the database used for the Mineral Resource estimation.

The NI 43-101 compliant technical report in respect of the mineral resource estimates described herein will be filed on SEDAR within the next 45 days.

About Mkango Resources Limited

Mkango's primary business is exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of Africa". The Company holds interests in three exclusive prospecting licenses in Malawi: the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.

The main exploration target in the 80% held Phalombe licence is the Songwe Hill rare earths deposit. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. Mkango completed an updated Pre-Feasibility Study for the project in November 2015 and a Feasibility Study is currently underway, the initial phases of which included a 10,900 metre drilling programme and updated mineral resource estimate.

Under the terms of an agreement with Talaxis, Talaxis will fully fund the Feasibility Study for Songwe by investing £12 million for a 49% interest in the project (via Mkango subsidiary Lancaster Exploration Ltd). Talaxis will also have the option to acquire a further 26% interest by arranging funding for project development including funding the equity component thereof. If Talaxis exercises its option, Mkango will retain a 25% interest, free carried to production. To-date, Talaxis has invested £5 million, which has funded the initial phases of the Feasibility Study, for a 20% interest in the project, with Mkango holding 80%.

By investing a further £2 million, Talaxis will acquire a 49% interest in Maginito Ltd, a new subsidiary of Mkango focused on neodymium alloy powders, magnets and other technologies. This includes the collaboration with Metalysis Ltd announced in September 2017, which is focused on advanced alloys using neodymium or praseodymium with other elements for permanent magnet manufacturing. Permanent magnets are critical materials for most electric vehicles, direct drive wind turbines and many other high growth applications. Neodymium is a key rare earth component at Songwe. To date, Talaxis has invested £1 million for a 24.5% interest in Maginito with Mkango holding 75.5%.

The main exploration targets in Mkango's remaining two 100% held licences are, in the Thambani licence, uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.

For more information, please visit www.mkango.ca.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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, its business and the Project. Generally, forward looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "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. Forward looking statements in this news release include statements with respect to the global market for products using the rare earth metals the Company is exploring for, completion of the feasibility study and of the transactions contemplated in the agreement with Talaxis, as well as the use of proceeds from the investments into the Company by Talaxis and the timing of such expenditures. 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, market demand for the metals and associated downstream products for which Mkango is exploring, researching and developing, the positive results of a feasibility study on the Project, delays in obtaining financing or governmental or stock exchange approvals. 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 assumes 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
Chief Executive Officer
[email protected]
UK: +44 207 3722 744
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

Alexander Lemon
President
[email protected]

Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Julia Tilley
UK: +44 207 138 3204

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470

Alternative Resource Capital
Joint Broker
Alex Wood, Rob Collins
UK: +44 20 7186 9004; +44 20 7186 9001

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

Appendix

Rare earths distribution at different cut-off grades


File: http://www.mkango.ca/i/pdf/nr/NR-Feb-04-2019-vn98w4n.pdf
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