Mkango to Commence Exploration on 100% Owned Thambani Uranium Licence Following Termination of Agreement With MetalNRG TSX Venture Exchange:MKA: LONDON and VANCOUVER, British Columbia, June 28, 2019 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango"), announces that the Company and MetalNRG plc (“MetalNRG”) have agreed to terminate their Non-Binding Heads of Terms Agreement announced on April 29, 2019, which set out their intention to enter into an earn-in agreement for Mkango’s Thambani Licence (“Thambani”). The parties were to have entered into the Transaction Agreement on or before 30th June 2019.
Following the inflow of �1.1 million from the recent warrant exercise, Mkango has decided to commence a further exploration programme at Thambani in 2019, therefore retaining 100% of the Thambani exploration exclusive prospecting licence, which features multiple zones of high-grade uranium, tantalum and niobium, with a number of extensive uranium radiometric anomalies. In parallel, Mkango will continue to evaluate partnership opportunities for the project.
Further updates will be provided on Thambani in due course.
The feasibility study for the Songwe Hill Rare Earths project continues in parallel, fully funded by strategic partner, Talaxis Limited, a subsidiary of Noble Group.
Following the inflow of �1.1 million from the recent warrant exercise, Mkango has decided to commence a further exploration programme at Thambani in 2019, therefore retaining 100% of the Thambani exploration exclusive prospecting licence, which features multiple zones of high-grade uranium, tantalum and niobium, with a number of extensive uranium radiometric anomalies. In parallel, Mkango will continue to evaluate partnership opportunities for the project.
Further updates will be provided on Thambani in due course.
The feasibility study for the Songwe Hill Rare Earths project continues in parallel, fully funded by strategic partner, Talaxis Limited, a subsidiary of Noble Group.
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