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41.50 -2.50 (-5.75%)

Bid:

41.00

Ask:

42.00

Spread: 1.00 (2.439%)

Market Cap: £158.92m

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Mkango Resources Analysing Geophysical Data For Two Malawi Licenses

Wed, 06th Jul 2016 09:18

LONDON (Alliance News) - Mkango Resources Ltd on Wednesday said it has continued to make progress on its corporate social responsibility programmes at the Songwe project in Malawi, and is currently analysing airborne geophysical data from the Thambani and Phalombe licences.

The rare earths mineral miner said it has recently being involved in the construction of a new bridge at the Songwe project in Phalombe, Malawi, as part of its corporate social responsibility programme at the site, and noted that it has also received airborne geophysical data covering the majority of the Thambani and Phalombe licences.

The main targets in the Thambani licence are uranium, niobium and tantalum, whereas rare earths are the major area of focus in the Phalombe licence, Mkango said.

Mkango said it was currently analysing the data, incorporating historical datasets and geological information generated by the company and from historical exploration, and will update the market in due course.

Shares in Mkango were down 4.2% at 4.55 pence on Wednesday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland