Mkango Resources (LON:MKA) Shares Up 5.4% – What’s Next?

Mkango Resources Ltd. (LON:MKA) was up 5.4% on Tuesday . The company traded as high as GBX 49 and last traded at GBX 46.37. Approximately 8,974,195 shares changed hands during trading, an increase of 414% from the average daily volume of 1,744,973 shares. The stock had previously closed at GBX 44.

Mkango Resources Stock Up 5.4%

The stock’s 50 day simple moving average is GBX 46.83 and its two-hundred day simple moving average is GBX 50.12. The firm has a market cap of £161.93 million, a P/E ratio of -10.10 and a beta of 1.74. The company has a debt-to-equity ratio of -38.07, a current ratio of 0.18 and a quick ratio of 0.87.

About Mkango Resources

Mkango’s corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the rare earths sector.

Mkango released a Feasibility Study for Songwe Hill, Malawi, in July 2022. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.

In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland.