Talaxis Limited, a subsidiary of commodities trader Noble Group, has acquired 14.5 percent shareholding in Mkango Resources Limited.<\/p>\n
Mkango is a Canadian dual TSX-V and Alternative Investment Market (AIM) listed mineral exploration company exploring rare earths at Songwe Hill in Phalombe and Thambani in Neno.<\/p>\n
The deal, which has seen Talaxis becoming a major shareholder in the company, is worth \u00a3500,000. The share price is at 3.5 pence.<\/p>\n
According to Mkango, the proceeds from the deal would, among other things, kick start Phase II of the research and development programme with metalysis, continued optimisation of the Songwe<\/p>\n
Hill rare earths project and ongoing evaluation of additional opportunities, in addition to other expenditures.<\/p>\n
Mkango Chief Executive Officer, Will Dawes, said Phase II work programme with metalysis includes product quality optimisation, test work scale-up and further analyses of the alloy to determine characteristics such as its morphology, chemical composition, and physical and magnetic proerties.<\/p>\n
He said Phase II would also incorporate customer appraisal of the product and further investigation of opportunities in relation to 3D printing of magnets.<\/p>\n
\u201cWe are very pleased to have Talaxis as a new and largest shareholder. Having signed the collaboration agreement with Noble in December 2016, this latest transaction is a natural extension of that relationship and demonstrates strong confidence in the company and the sector.<\/p>\n
\u201cWe look forward to more work with Talaxis and Noble to progress both the advanced stage Songwe Hill rare earths project and the MetalysisNdFeB R&D programme through the development phases,\u201d Dawes said.<\/p>\n
Mkango last traded in London at four pence, up 0.75 from pence or 23 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Talaxis Limited, a subsidiary of commodities trader Noble Group, has acquired 14.5 percent shareholding in Mkango Resources Limited. Mkango is a Canadian dual TSX-V and Alternative Investment Market (AIM) listed mineral exploration company exploring rare earths at Songwe Hill in Phalombe and Thambani in Neno. The deal, which has seen Talaxis becoming a major shareholder […]<\/p>\n","protected":false},"author":3,"featured_media":41744,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-55640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/55640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=55640"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/55640\/revisions"}],"predecessor-version":[{"id":55646,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/55640\/revisions\/55646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/41744"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=55640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=55640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=55640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}