Mkango releases Q1 2024 financial statements
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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 3-month period ending 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/).
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 ind irect 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
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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 t o
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
[email protected] [email protected]
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