Mkango Resources (LON:MKA) Shares Up 14.6% – Here’s What Happened

Mkango Resources Ltd. (LON:MKA) shot up 14.6% during mid-day trading on Tuesday . The stock traded as high as GBX 15.45 ($0.20) and last traded at GBX 13.75 ($0.18). 7,033,039 shares changed hands during mid-day trading, an increase of 271% from the average session volume of 1,894,912 shares. The stock had previously closed at GBX 12 ($0.15).

Mkango Resources Stock Down 5.8 %

The stock has a market cap of £51.27 million, a P/E ratio of -15.47 and a beta of 2.17. The company’s 50 day moving average price is GBX 10.32 and its 200-day moving average price is GBX 8.24.

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.