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Mkango Resources Limited Announces Proposed Fundraise of Approximately £10 Million
Accessnewswire· 2026-03-31 16:20
Core Viewpoint - Mkango Resources Limited is proposing a fundraise of approximately £10 million (C$18,375,000) to support its growth opportunities, including a potential acquisition in Germany and capital expenditures at its UK and German operations [5][6][12]. Fundraise Details - The fundraise will consist of a placing to institutional investors, a private placement in Canada, a retail offer in the UK, and a direct subscription by certain investors outside the US and Canada [5][6][7]. - The placing price is set at 33 pence per common share (C$0.606375) [7]. - The total expected expenditure from the fundraise includes £4.33 million for a potential acquisition in Germany, £2.7 million for capital expenditures in Germany, £950,000 for capital expenditures in the UK, and £2.02 million for working capital [15]. Strategic Rationale - The fundraise aims to accelerate Mkango's rare earth magnet recycling strategy in the UK and Germany, positioning the company to meet the growing demand for sustainable supplies of rare earth magnets driven by sectors such as data centers, electric vehicles, and renewable energy [13][14]. - The funding is expected to strengthen the company's balance sheet and enhance its ability to capitalize on increasing market demand [14]. Operational Context - Trading of Mkango's common shares on the TSX Venture Exchange was halted pending the announcement of the fundraise, with trading expected to resume shortly after [11]. - The company has engaged joint bookrunners and advisors to facilitate the fundraise, ensuring a structured approach to minimize execution and market risk [21][15]. Future Expectations - A further announcement will confirm the closing of the bookbuild and the number of shares to be issued [12]. - Admission of the offer shares to AIM and trading on the TSX-V is anticipated to become effective on April 10, 2026, subject to regulatory approvals [23][24].
CoTec Notes Portfolio Company HyProMag USA and Intelligent Lifecycle Solutions Commission Inserma Rare Earth Magnet Pre-Processing System in South Carolina
Accessnewswire· 2026-03-16 11:00
Core Viewpoint - The commissioning of the Inserma hard disk drive magnet pre-processing system at the ILS facility in Williston, South Carolina marks a significant operational milestone for U.S. rare earth magnet recycling, enhancing domestic supply chains for advanced manufacturing and AI infrastructure [1] Group 1: Operational Details - The Williston site features two automated Inserma pre-processing units that can separate magnet assemblies from end-of-life hard disk drives in approximately three seconds per drive [1] - The combined capacity of these units exceeds 60,000 drives per week, indicating a robust operational capability for recycling [1] Group 2: Company Information - CoTec Holdings Corp. (TSX-V:CTH) (OTCQB:CTHCF) acknowledges the press release from HyProMag USA LLC, its U.S.-based joint venture focused on rare earth permanent magnet recycling and manufacturing [1]
Geomega Accelerates Growth with New Integrated R&D and Piloting Facility Supported by $750,000 Federal Contribution
TMX Newsfile· 2025-12-17 13:00
Core Viewpoint - Geomega Resources Inc. has secured a $750,000 repayable contribution from Canada Economic Development for Quebec Regions to support the development of new integrated laboratories and piloting facilities, marking a significant advancement in the company's technology scale-up and operational consolidation [1][5][6]. Group 1: Financial Support and Contribution Terms - The funding is part of the Regional Economic Growth through Innovation (REGI) program and will be interest-free, repayable over 60 equal monthly installments starting 36 months after project completion, expected by September 30, 2026 [5]. - This contribution reflects the federal government's confidence in Geomega's technologies and its role in advancing Canada's critical metals ecosystem [6]. Group 2: Project Development and Expansion - The project includes the establishment of four new hydrometallurgical laboratories totaling approximately 2,000 sq. ft. and a new double-level piloting area exceeding 3,500 sq. ft., representing a more than 10-fold increase in current piloting capacity [7]. - The new facility will consolidate laboratories, piloting operations, engineering teams, and administrative offices, strengthening Geomega's operational foundation for rapid growth [7][8]. Group 3: Technological Advancements and Market Position - Geomega has achieved significant milestones in rare earth magnet recycling and bauxite residue valorization, demonstrating the strength of its technologies and the increasing demand for its solutions [2][3]. - The new facility will enable the company to conduct more piloting campaigns in parallel, support a greater number of client projects, and enhance the transition of technologies from lab scale to commercial implementation [14].