TIDMMKA
Mkango Resources Limited
16 November 2020
MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
NEW MAGINITO WEBSITE AND PRESENTATION
London / Vancouver: November 16 , 2020 - Mkango Resources Ltd.
(AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce
the launch of a new website for Maginito Limited ("Maginito") (
www.maginito.com ), together with a new Maginito company
presentation, available for download from the website via the
following link:
https://maginito.com/site/assets/files/1/20201103_maginito_presentation-1.pdf
Maginito is 75.5% owned by Mkango, which is completing a
Feasibility Study for the Songwe Hill rare earths project in
Malawi, and 24.5% owned by Talaxis Limited ("Talaxis"), which is
focused on investment in and development of technology metal
opportunities.
Maginito was established to pursue downstream green technology
opportunities in the rare earths supply chain, encompassing
neodymium (NdFeB) magnet recycling as well as innovative rare earth
alloy, magnet and separation technologies.
Maginito's strategy is underpinned by offtake rights for
sustainably sourced primary and secondary raw materials, and geared
to accelerating growth in the electric vehicle sector, wind power
generation and other industries driven by decarbonisation of the
economy.
In January 2020, Maginito acquired a 25% interest in UK based
NdFeB magnet recycler, HyProMag Limited ("HyProMag"), with an
option to increase to 49%. HyProMag is focused on short loop NdFeB
magnet recycling using a hydrogen-based technology (HPMS) developed
at the Magnetic Materials Group (MMG) within the University of
Birmingham. HyProMag is a partner in the Innovate UK grant funded
project, "Rare-Earth Recycling for E-Machines" ("RaRE") together
with University of Birmingham, Advanced Electric Machines Research
Limited, Bentley Motors Limited, Intelligent Lifecycle Solutions
Limited and Unipart Powertrain Applications Limited, which will for
the first time establish an end to end supply chain to incorporate
recycled rare earth magnets into electric vehicles.
Maginito is currently evaluating a number of other complementary
downstream technology opportunities.
About HyProMag
The Magnetic Materials Group within the School of Metallurgy and
Materials at the University of Birmingham has been active in the
field of rare earth alloys and processing of permanent magnets
using hydrogen for over 40 years. Originated by Professor Rex
Harris, the hydrogen decrepitation method, which is used to reduce
NdFeB alloys to a powder, is now ubiquitously employed in worldwide
magnet processing.
In a further development, the MMG patented a process for
extracting and demagnetising NdFeB powders from magnets embedded in
redundant equipment using hydrogen in a process called HPMS
(Hydrogen Processing of Magnet Scrap). This patent and related
intellectual property is at the core of HyProMag's business. The
MMG continues to develop new research and development
opportunities, cooperates widely in Europe, including a major EU
project, SusMagPro, which is also focused on recycling of magnets.
The directors of HyProMag all provide their expertise to the MMG
and there is potential for HyProMag to gain possible future access
to new intellectual property.
HyProMag is also a partner in the Innovate UK grant funded
project, "Rare-Earth Recycling for E-Machines" ("RaRE") together
with University of Birmingham, Advanced Electric Machines Research
Limited, Bentley Motors Limited, Intelligent Lifecycle Solutions
Limited and Unipart Powertrain Applications Limited.
RaRE will for the first time establish an end to end supply
chain to incorporate recycled rare earth magnets into electric
vehicles, whereby recycled magnets will be built into an ancillary
electric motor to ultimately support the development of a
commercial ancillary motor suite .
HyProMag's strategy is to establish a recycling facility for
NdFeB magnets at Tyseley in Birmingham to provide a sustainable
solution for the supply of NdFeB magnets and alloy powders for a
wide range of markets including, for example, automotive and
electronics. A number of product options are being evaluated
including hydrogen decrepitated (HD) demagnetised powders suitable
for magnet producers, alloy ingot remelted from HD powders suitable
for alloy feed or magnet production, anisotropic alloy powders
(HDDR) for bonded magnets and sintered NdFeB magnets as required by
the RaRE project for automotive applications.
The founding directors of HyProMag, comprising Professor
Emeritus Rex Harris, former Head of the MMG, Professor Allan
Walton, current Head of the MMG, and two Honorary Fellows, Dr John
Speight and Mr David Kennedy, are leading world experts in the
field of rare earth magnetic materials, alloys and hydrogen
technology, and have significant industry experience. Following the
investment by Maginito, HyProMag appointed William Dawes, a
Director of Maginito and Chief Executive Officer of Mkango, to the
Board of HyProMag.
For more information, please visit https://hypromag.com/
About Mkango
M kang o 's pri mary busin e ss is explorat i on for rare earth
ele me n ts and associat ed min erals in the Re public of Malawi, a
country whose hospitable people have earned it a reputation as "the
warm heart of Africa". The Company holds interests in four e
xclusive prosp ecting lice n s es in Malawi: the Phalombe licence,
the Thambani licence, the Chimimbe Hill licence and the Mchinji
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 an updated
mineral resource estimate, announced in February 2019. In March
2019, the Company announced receipt of a GBP7 million (C$12.3
million) investment from Talaxis to fund completion of 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.
The main exploration targets in Mkango's remaining three 100%
held licences are, in the Thambani licence, uranium, niobium,
tantalum and zircon, in the Chimimbe Hill licence, nickel and
cobalt, and in the Mchinji licence, rutile, nickel, cobalt, base
metals and graphite. Mkango recently announced commencement of an
extensive exploration program following a new rutile discovery
within the Mchinji licence.
Mkango also holds a 75.5% interest in Maginito with the balance
owned by Talaxis. Maginito is focused on downstream opportunities
relating to the rare earths supply chain, in particular, recycling
and other innovative technologies for the production of neodymium
alloy powders and magnets used in electric vehicles, wind turbines
and other industries geared to decarbonisation of the economy.
For more information, please visit www.mkango.ca .
About Talaxis
Founded in 2016, Talaxis is a wholly-owned subsidiary of Noble
Group Holdings Limited and invests in and develops projects that
are related to technology metals, with a special focus on rare
earth elements. Talaxis focuses on battery and electric vehicle
materials such as nickel, lithium, graphite and vanadium. Talaxis
has supply chain partners in the upstream and midstream segments,
and also focuses on research and development solutions for
industrial consumers in the downstream segment. Talaxis prioritises
sustainable ventures with a strong emphasis on corporate social
responsibility. These include projects that contribute to the
decarbonisation of the economy and that are aligned with the United
Nations Sustainable Development Goals.
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 rare earth metals, completion of
the feasibility study for Songwe, investments by Maginito in
Hypromag and of the plans and results with respect to Maginito and
HyProMag, as well as plans for Tyseley. 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, COVID-19 and other market
effects on global 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 and
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 Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
Blytheweigh
Financial Public Relations
Tim Blythe
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
UK: +44 20 7186 9004
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither the TSX Venture
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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
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