Aim- and TSX-V-listed Mkango Resources and metals investor Metal NRG have agreed to terminate their heads of terms agreement regarding an earn-in over Mkango’s Thambani licence, in Malawi.
Thambani is one of Mkango’s three exclusive prospecting licences in Malawi and features multiple zones of high-grade uranium, tantalum and niobium, as well as several extensive uranium radiometric anomalies.
Following the inflow of £1.1-million from a recent warrant exercise, Mkango decided to extend its exploration programme at Thambani; thereby retaining 100% of the prospecting licence.
Mkango will continue to evaluate possible partnership opportunities for the project.
Meanwhile, the feasibility study for the Songwe Hill rare earths project continues, fully funded by strategic partner, Noble Group subsidiary Talaxis.