Mkango Resources (LON:MKA) Trading Up 0.5% – What’s Next?

Mkango Resources Ltd. (LON:MKA) was up 0.5% during mid-day trading on Monday . The stock traded as high as GBX 9.70 ($0.12) and last traded at GBX 9.45 ($0.12). Approximately 2,175,320 shares changed hands during trading, a decline of 16% from the average daily volume of 2,583,274 shares. The stock had previously closed at GBX 9.40 ($0.12).

Mkango Resources Trading Up 0.5 %

The company has a current ratio of 0.16, a quick ratio of 0.87 and a debt-to-equity ratio of 54.03. The stock has a market cap of £27.73 million, a P/E ratio of -945.00 and a beta of 2.17. The business’s fifty day simple moving average is GBX 7.61 and its 200 day simple moving average is GBX 6.41.

Mkango Resources Company Profile

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.