Mkango Resources Limited subsidiary completes Hypromag investment

  • Jan 10, 2020 GMT
  • Team Kalkine

Mkango Resources Limited (LON: MKA) has informed about its subsidiary completing Hypromag investment.

  • The company has informed that its subsidiary, Maginito Limited has completed the acquisition of an initial 25 per cent interest in HyProMag Limited.
  • The subsidiary company has invested an initial £300,000 for said interest and is having an option to invest a further £1 million to increase its interest up to 49 per cent.
  • It has also provided a £200,000 convertible loan facility, which along with the investment amount of £300,000 will be fully funded from its existing cash resources.
  • On 10th January 2020, at the time of writing, GMT 08:07 AM, MKA shares were trading at GBX 8.20, down by 0.05 points or 0.61% against the previous day closing price.

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