R/€ = 14.88 Change: 0.00
R/$ = 12.10 Change: 0.00
Au 1335.58 $/oz Change: -5.52
Pt 927.50 $/oz Change: -4.49
 
 
R/€ = 14.88 Change: 0.00
R/$ = 12.10 Change: 0.00
Au 1335.58 $/oz Change: -5.52
Pt 927.50 $/oz Change: -4.49
 
 
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Mkango’s feasibility for Songwe Hill under way

13th April 2018 BY: Natasha Odendaal
Creamer Media Senior Deputy Editor

JOHANNESBURG (miningweekly.com) – TSX- and Aim-listed Mkango Resources is well positioned to advance its projects following investments by Noble Group subsidiary Talaxis, the exploration and development company outlined in a management discussion and analysis report for the year ended December 31, published on Friday.

Mkango is progressing the feasibility and development phases of its Songwe Hill rare-earths prospect, in Malawi, with the initial feasibility study phases kicked off by the injection of £5-million by Talaxis in exchange for a 20% interest in the project.

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The initial phases of the feasibility study include a diamond drilling programme and the publication of an updated mineral resource estimate, as well as metallurgical optimisation and work on the ongoing environmental-, social- and health-impact assessment.

Talaxis is fully funding the study by investing £12-million for a 49% interest in the project through Mkango’s local subsidiary and licence owner Lancaster Exploration.

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A further £7-million will be invested upon conclusion of a definitive joint venture agreement and the publication of the updated mineral resource estimate for an additional 29% stake.

Mkango aims to develop the Songwe Hill project, along with complementary downstream opportunities in the rare-earths supply chain, through Maginito, both of which are in partnership with Talaxis. 

EDITED BY: Creamer Media Reporter
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