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) and on the
Company's website (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
To view
the Management Discussion and Analysis, please click
here: 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
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
@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
