Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) is currently in discussions with the Malawi government, aiming to establish a consistent fiscal environment for its projects in the nation, ensuring its appeal to financial collaborators.
In the last quarter of 2022, the Malawian government engaged an independent international law firm to finalize a mining permit (MDA). This firm has since offered its counsel to the government, and dialogue is ongoing.
In parallel, the company is in talks with banks, strategic stakeholders, and potential grant donors to finance a feasibility study for the Pulawy separation facility in Poland.
Recently, its subsidiary Maginito secured complete ownership of HyProMag, a business focused on recycling rare earth magnets. They anticipate beginning production in the UK by the end of this year.
The company reported losses of US$1.08 million for the quarter ending in June and US$1.64 million for the first half of the year. By the end of June, they had US$4.5 million in cash reserves.”
