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Mkango reports jump in total assets in Q3

Monday, November 28, 2016 14:10
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Mkango Resources Ltd (LON:MKA, CVE:MKA), the rare earths explorer, reported a jump in Total assets with its third quarter earnings on Monday.

Total assets mushroomed to $539,997 in the three months to Sept 30 from $252,935 in the same period a year ago.

The total comprehensive loss rose to $485,682 from $49,234 in the third quarter of 2015, the Toronto- and London AIM-listed company said.

“The operations of the Company are currently being funded by the net proceeds of a fund raising completed in connection with its listing on the AIM market of the London Stock Exchange on June 15, 2016. The Company’s strategy is to further advance the projects via research collaborations, marketing and off-take agreements, joint ventures, financial and strategic partnerships,” the company said in a statement.

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