Mkango Files NI 43-101 Definitive Feasibility Study Report for the Songwe Hill Rare Earths Project in Malawi - NPV of US$559.0 Million and IRR of 31.5%
August 22 2022 - 01:00AM
Mkango Resources Ltd. (AIM/TSX-V: MKA) (the
“
Company” or “
Mkango”) is pleased
to announce that it has filed a Technical Report (the “Report”) in
relation to the Definitive Feasibility Study (“DFS”) for the Songwe
Hill Rare Earths Project (“Songwe” or the “Project”) in Malawi
previously announced on July 5, 2022.
The press release in relation to the DFS is
available to be downloaded from Mkango’s website via the following
link:
https://www.mkango.ca/news/mkango-announces-results-of-definitive-feasibility-study-for-the-songwe-hill-rare-earths-project-in-malawi-npv-of-us-559.0/
The Report is available to be downloaded from
Mkango’s profile on SEDAR (www.sedar.com)
Cautionary Note Regarding
Forward-Looking Statements
This news release (and the documents referenced
herein) contains forward-looking statements (within the meaning of
that term under applicable securities laws) with respect to Mkango,
the Pulawy Separation Plant, and Songwe and respective feasibility
studies. Generally, forward looking statements can be identified by
the use of words such as “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,
governmental action relating to COVID-19, the fact that actual
results may differ significantly from those projected in the DFS,
resource and reserve calculations result in estimates only, market
effects on global demand and pricing for the metals and associated
downstream products for which Mkango is exploring, researching and
developing, factors relating to the development of Songwe and the
Pulawy Separation Plant including the inexact nature of capex and
opex estimates and management’s ability to reduce these estimates
in the current environment, the outcome and timing of the
completion of the Integrated DFS, cost overruns, complexities in
building and operating Songwe and the Pulawy Separation Plant,
changes in economics and government regulation, the positive
results of a feasibility study on the Pulawy Separation Plant and
delays in obtaining financing or governmental approvals for, and
the impact of environmental and other regulations relating to,
Songwe and the Pulawy Separation Plant. 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 Ltd |
|
William DawesChief Executive Officerwill@mkango.caCanada: +1 403
444 5979www.mkango.ca@MkangoResources |
|
Alexander LemonPresidentalex@mkango.ca |
|
|
|
BlytheRayFinancial Public RelationsTim BlytheUK:
+44 207 138 3204 |
|
|
|
SP Angel
Corporate Finance LLPNominated Adviser and Joint
BrokerJeff Keating, Caroline RoweUK: +44 20 3470 0470 |
|
|
|
Alternative
Resource CapitalJoint BrokerAlex Wood, Keith DowsingUK:
+44 20 7186 9004/5 |
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.
Mkango Resources (TSXV:MKA)
Historical Stock Chart
From Feb 2024 to Mar 2024
Mkango Resources (TSXV:MKA)
Historical Stock Chart
From Mar 2023 to Mar 2024