REG - Mkango Resources Ltd - Appointment of Non-Executive Director

Mkango ResourcesAnnouncement

24/05/2023 07:00

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RNS Number : 4041A  Mkango Resources Limited  24 May 2023

 

 

 

 

 

MKANGO RESOURCES
LTD.
 

550 Burrard
Street
 

Suite
2900
 
 

Vancouver
 
 

BC V6C
0A3
 
 

Canada
 
 

Appointment of Non-Executive Director

 

Mkango Appoints ESG Specialist Philipa Varris to Board and as Chair of
Sustainability Committee

 

London / Vancouver: May 24, 2023 - Mkango Resources Ltd. (AIM/TSX-V: MKA) (the
"Company" or "Mkango") is pleased to announce the appointment of Ms. Philipa
Varris as independent non-executive director of the Company, subject to the
approval of the TSX Venture Exchange ("TSX-V"). The appointment of Ms. Varris
is part of the Company's global expansion strategy and highlights the
importance the Company places on upholding the highest standards of
sustainability.

Ms. Varris has held leadership positions in environment, health, safety and
community management in the mining sector for over 25 years, primarily in
Africa, Australasia and Latin America, across a number of mineral commodities.
Philipa has been awarded the Australian Centenary Medal for leadership in
Australia's largest community consultation and strategic vision development
initiative and was recognized in 2020 as one of the Women in Mining's 100
Global Inspirational Women in Mining. Philipa holds a Master of Science in
Natural Resources from Curtin University of Technology, is an AusIMM Chartered
Environmental Professional and UK Committee member, and is qualified with
Corporate Directors International. She holds the position of Head of
Sustainability with Horizonte Minerals and is a non-executive director of
TSX-listed EnviroGold Global.

As a champion for mining ESG leadership, Philipa has led teams recognised with
the Prospectors and Developers Association of Canada ("PDAC") Award for
Environment and Social Responsibility, the Australian Minerals and Energy
Environment Foundation ("AMEEF") Award for Environmental Excellence, and the
Mines and Money ESG Producer of the Year Award, amongst others.

Derek Linfield, Chairman of Mkango Resources, commented: "On behalf of my
fellow directors, I would like to welcome Philipa to the Board and look
forward to working closely with her. Philipa brings a wealth of experience to
the Board and her background in sustainability, health and safety will be of
enormous value to Mkango as we progress the Songwe Hill project in Malawi and
our recycling business in the United Kingdom, Germany and the United States.
We particularly look forward to her contribution as Chair of the newly formed
Sustainability Committee of the Board. Sustainability has deep roots in
Mkango's corporate culture and is a key driver of our success in Malawi. The
inauguration of a dedicated Board committee reflects Mkango's desire for
deeper Board level oversight of this increasingly technical arena, as the
company positions itself for production in both mining and recycling."

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Philipa Ann Varris
(aged 51):

  Current directorships and/or partnerships:   Former directorships and/or partnerships (within the last five years):

 EnviroGold Global Limited                     Golden Star Oil Palm Plantations Limited

 

There are no further disclosures required under Schedule 2(g) of the AIM Rules
for Companies.

About Mkango

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 is listed on the AIM and the TSX-V.

Mkango is developing its flagship Songwe Hill rare earths project ("Songwe
Hill") in Malawi with a Definitive Feasibility Study completed in July 2022
and an Environmental, Social and Health Impact Assessment approved by the
Government of Malawi in January 2023. 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 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 (the "Pulawy Separation
Plant"). The Pulawy Separation Plant will process the purified mixed rare
earth carbonate produced at Songwe Hill.

Through its 90% ownership of Maginito Limited ("Maginito") (www.maginito.com
(http://www.maginito.com/) ) , Mkango is also developing green technology
opportunities in the rare earths supply chain, encompassing neodymium (NdFeB)
magnet recycling as well as innovative rare earth alloy, magnet, and
separation technologies. Maginito has recently announced that it is acquiring
the shares of HyProMag Limited, a company in the recycling business based in
Birmingham, UK, ("HyProMag") that it doesn't already own.

Mkango also has an extensive exploration portfolio in Malawi, including the
Mchinji rutile exploration project, the Thambani
uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.

For more information, please visit www.mkango.ca (http://www.mkango.ca)

Market Abuse Regulation (MAR) Disclosure

The   information contained within   this announcement is deemed by
the Company to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into
UK law by the European Union (Withdrawal) Act 2018. Upon the
publication   of this announcement via Regulatory Information Service,
this inside information is now considered to be in the public domain.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of
that term under applicable securities laws) with respect to Mkango. Generally,
forward looking statements can be identified by the use of words such as
"plans", "expects" or "is expected to", "scheduled", "estimates" "intends",
"anticipates", "believes", or variations of such words and phrases, or
statements that certain actions, events or results "can", "may", "could",
"would", "should", "might" or "will", occur or be achieved, or the negative
connotations thereof. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual performance
and results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. Such factors and risks include, without limiting
the foregoing, the availability of (or delays in obtaining) financing to
develop Songwe Hill, the recycling business of HyProMag and the Pulawy
Separation Plant, governmental action and other market effects on global
demand and pricing for the metals and associated downstream products for which
Mkango is exploring, researching and developing, geological, technical and
regulatory matters relating to the development of Songwe Hill, the ability to
scale the HPMS and chemical recycling technologies of Maginito to commercial
scale, competitors having greater financial capability and effective competing
technologies in the recycling and separation business of Maginito and Mkango,
availability of scrap supplies for Maginito's recycling activities, government
regulation (including the impact of environmental and other regulations) on
and the economics in relation to recycling and the development of the
recycling plants being developed by Maginito, the Pulawy Separation Plant and
future investments in the United States pursuant to the cooperation agreement
between Maginito and CoTec Holding Corp, the outcome and timing of the
completion of the feasibility studies, cost overruns, complexities in building
and operating the plants, and the positive results of feasibility studies on
the various proposed aspects of Mkango's activities. The forward-looking
statements contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any intention and
assume no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law. Additionally, the Company undertakes no obligation
to comment on the expectations of, or statements made by, third parties in
respect of the matters discussed above.

 

For further information on Mkango, please contact:

Mkango Resources Limited

 

William
Dawes
Alexander Lemon

Chief Executive Officer                  President

will@mkango.ca
alex@mkango.ca

Canada: +1 403 444 5979

www.mkango.ca (http://www.mkango.ca)

@MkangoResources

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Kasia Brzozowska

UK: +44 20 3470 0470

 

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 20 7186 9004/5

 

Tavistock Communications

PR/IR Adviser

Jos Simson, Cath Drummond

UK: +44 (0) 20 7920 3150

mkango@tavistock.co.uk

 

The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy any equity or other securities of the Company in the United
States. The securities of the Company will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") and may
not be offered or sold within the United States to, or for the account or
benefit of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.

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