Mkango Resources (LSE:MKA) has completed a £12.5 million equity raise, issuing 37,878,788 new shares at £0.33 each through a placing, LIFE offering, retail offer, and subscription. The shares have now been admitted to trading on AIM, while conditional approval has also been obtained for listing on the TSX Venture Exchange.
The proceeds will be directed toward advancing the company’s European strategy, including a potential acquisition in Germany, funding capital expenditure and feasibility work across its UK and German recycling operations, and supporting general working capital needs. The move reinforces Mkango’s ambition to scale its rare earth recycling and processing capabilities in key European markets, while also managing regulatory considerations such as a related-party transaction involving its interim CFO.
The fundraising attracted participation from a range of financial intermediaries, including Peel Hunt, H&P Advisory, Alternative Resource Capital, Red Cloud Securities, JUB Capital, and SP Angel, reflecting strong engagement from capital markets participants. Certain resale restrictions will apply to most of the newly issued shares in Canada, except those placed under the LIFE exemption, highlighting a structured approach to accessing both UK and Canadian investor bases.
More about Mkango Resources
Mkango Resources is a dual-listed company on AIM and the TSX Venture Exchange focused on the rare earths sector, particularly the recycling and production of rare earth magnets, alloys, and oxides. Through its majority stake in Maginito, the company holds interests in HyProMag operations in the UK and Germany, as well as Mkango Rare Earths UK. It is also expanding recycling technology in the United States and advancing development projects including Songwe Hill in Malawi and the Pulawy separation project in Poland, both recognised as EU Strategic Projects.
Leave a Reply