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Mkango Resources confirms solid cash position as feasibility work continues

The date of: 2020-04-30
viewed: 1

source:Proactive Investors UK

Completion of a feasibility study for the firm's Malawi rare earth mine is presently targeted in the second half of next year.

Mkango Resources Ltd’s (LON:MKO) full-year results have confirmed it had a US$9.53mln cash position at the end of 2019, whilst the company also noted that work on the Songwe rare earth project’s feasibility study is continuing.

Workstreams for the study are ongoing though the company noted that because of the impacts of the coronavirus (COVID-19) pandemic it is inevitable that some elements will be impacted and the precise extent of the delay is uncertain. Nonetheless, Mkango is presently targeting completion of the study in the second half of 2021.

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