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Tuesday, 16 April 2013
See Mkango Resources in Vancouver
Fresh from a $2.3 million fundraising, Mkango Resources(CVE:MKA) will present at our Proactiveinvestors One2One investor forum in Vancouver on April 25th, where investors will hear about the company's plans to bring the Songwe Hill rare earth element project to the next level.
We are offering investors a rare opportunity to hear from William Dawes, CEO of Mkango Resources, whose Songwe Hill rare earth project is located in southeast Malawi. The company is targeting completion of a pre-feasibility study (PFS) before the end of this year.
The Proactive Investors One2One forums promise to provide direct access to the bosses of some of the nation’s most dynamic growth companies.
Indeed, this time is no different, with Mkango Resources set to take the podium on Thursday 25th April 2013 in Vancouver at the Metropolitan Hotel Vancouver - 645 Howe Street - Connaught Room. The presentation will start at 1:30pm and finish at 3:30pm.
It promises to be an interesting affair, with this compelling investment opportunity on hand for attendees.
In six years, Proactive has organized more than 300 events and introduced investors to some of the stock market’s best-performing stock market listed companies.
Mkango will make a 20 minute pitch followed by a 10 minute inquisition by a roomful of potential investors. Once the company has presented, complimentary canapés and beverages are available for 90 minutes during a break-out session, where attendees can mingle with other guests, or ask more questions to the presenters.
The Canadian mineral exploration and development company is focused on rare earth elements and associated minerals in the Republic of Malawi.
The company's main exploration target is the Songwe Hill rare earth deposit, which features carbonatite-hosted rare earth mineralization and was subject to previous exploration in the late 1980s.
Mkango filed a NI 43-101 compliant resource estimate in November with a substantial resource in the indicated category. The heavy rare earth element percentage of total rare earth oxides (TREO) are 7.1% and 7.4% for indicated and inferred mineral resource estimates respectively, at a 1.0% TREO cut-off grade.
Many of the ‘scoping’ elements of the project are now well advanced, Dawes told Proactive Investors in February, with the company targeting completion of a pre-feasibility study (PFS) before the end of this year.
Importantly, because of the success of the initial phase of work he said Mkango is now able to realize meaningful cost savings as it pursues the PFS, because no further drilling is needed at this time.
The company said recently that the $2.3 million in new funds raised will be used for further metallurgical work, mine planning, environmental studies and other aspects required to move the Songwe Hill project to the next stage. The proceeds will also be put toward regional exploration across its properties, which have potential for rare earths, uranium and zircon, as well as other corporate plans.
In total, 13.12 million units were issued in the recent oversubscribed placement, with each unit consisting of one common share and one half of a share purchase warrant. Major shareholder Leo Mining and Exploration, which is associated with management of Mkango, was issued 4.3 million units, at a price of 17.5 cents. Leominex will hold a 48 percent stake in the company.