Mkango Resources (LON:MKA) Announces Earnings Results

Mkango Resources (LON:MKA) issued its quarterly earnings results on Tuesday. The company reported GBX (0.70) earnings per share for the quarter, Digital Look Earnings reports. Mkango Resources had a positive return on equity of 749.80% and a negative net margin of 28,220.69%.

Mkango Resources Stock Performance

MKA traded up GBX 4 on Friday, hitting GBX 41. 4,229,684 shares of the company traded hands, compared to its average volume of 1,572,574. Mkango Resources has a 12-month low of GBX 30.50 and a 12-month high of GBX 79. The company has a 50 day moving average of GBX 39.70 and a 200-day moving average of GBX 43.80. The company has a quick ratio of 0.87, a current ratio of 0.14 and a debt-to-equity ratio of -64.29. The stock has a market capitalization of £158.92 million, a PE ratio of -9.74 and a beta of 1.73.

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.