Mkango Resources Limited has completed an upsized fundraise of £12.5 million (approximately C$23.0 million), exceeding its initial £10 million target following strong investor demand and significant oversubscription.
The company placed 37,878,788 new common shares at 33 pence (C$0.606375) per share. Proceeds will be directed towards a German acquisition (£4.33 million), capital expenditure across its UK (£2.2 million) and German (£3.95 million) operations, and £2.02 million allocated for working capital.
The newly issued shares account for approximately 10.8% of the company’s enlarged share capital. Admission to trading on AIM, alongside conditional acceptance on the TSX Venture Exchange, is expected on 10 April 2026.
William Dawes, CEO, commented:
“Following strong demand from both new institutional and existing investors, we are pleased to have completed this successful, upsized fundraise. The support we have received is a clear endorsement of Mkango’s strategy and the long-term opportunity across our businesses which span the whole rare earths supply chain. Importantly, this financing strengthens our balance sheet and provides us with flexibility to advance our near-term priorities, including growth initiatives in the UK, Germany and beyond. We are very conscious of the challenging market conditions, however, this result demonstrates the resilience of our business and the confidence investors continue to place in Mkango.”
Contacts:
Mkango Resources Ltd
William Dawes
Chief Executive Officer
will@mkango.ca
Alexander Lemon
President
alex@mkango.ca
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
