Mkango Resources (LON:MKA) Trading Up 12.2% – Here’s Why

Mkango Resources Ltd. (LON:MKA)’s stock price rose 12.2% during trading on Monday . The company traded as high as GBX 11.24 ($0.15) and last traded at GBX 11.19 ($0.15). Approximately 2,100,973 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 1,869,718 shares. The stock had previously closed at GBX 9.97 ($0.13).

Mkango Resources Trading Down 1.8 %

The stock’s fifty day moving average price is GBX 10.21 and its 200 day moving average price is GBX 8.04. The stock has a market cap of £45.20 million, a P/E ratio of -13.64 and a beta of 2.17.

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.