Mkango Resources Ltd - Vancouver-based mineral exploration and development company - Announces the results of its definitive feasibility study at the Songwe Hill rare earths project in Malawi. Notes a post-tax net present value of USD559.0 million, using a 10% discount rate, with an internal rate of return of 32%. Expects long operating life of 18 years, with mining assumed to commence in February 2025. In the first five years of production, company expects to average 5,954 tonnes per year total rare earth oxides. Initial capital expenditure anticipated at USD277 million.
Current stock price: 21.80 pence, up 3.8% on Tuesday in London
12-month change: down 21%
By Heather Rydings; heatherrydings@alliancenews.com
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Mkango Res (MKA)