- Mkango Resources said the TSX Venture Exchange has conditionally accepted its transaction with Noble Group subsidiary Talaxis.

The deal remained subject to shareholder approval, Mkango said.

It would involve Talaxis investing £12m in three tranches to fully fund a feasibility study for the Songwe project in Tanzania and Malawi in return for a 49% interest in the project.

The deal would also see Talaxis pay £2m in two tranches in return for a 49% interest in a new venture focused on neodymium alloy powders, magnet and other technologies.

At 8:21am: [LON:MKA] Mkango Resources Ltd Cmn Shs Npv Di share price was +1.25p at 7.25p

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