Mkango Resources (LON:MKA) Posts Earnings Results

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

Mkango Resources Trading Down 3.4%

LON:MKA traded down GBX 1.22 during trading hours on Wednesday, hitting GBX 35.28. The company had a trading volume of 1,353,422 shares, compared to its average volume of 1,537,360. Mkango Resources has a 1 year low of GBX 30.50 and a 1 year high of GBX 79. The company has a market cap of £136.74 million, a P/E ratio of -8.38 and a beta of 1.73. The company has a 50-day moving average of GBX 40.03 and a 200 day moving average of GBX 44.06. The company has a current ratio of 0.14, a quick ratio of 0.87 and a debt-to-equity ratio of -64.29.

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.