9th Nov 2026 10:47
Mkango Magnetic Materials Ltd - producer of recycled rare earth magnets, alloys and oxides in the UK, US and Germany, and miner of rare earths in Malawi - Shares are suspended from trading on AIM in London on Monday, as the company uses the exchange's capital access window rule to conduct an equity raise. Mkango shares also will be suspended from trading in Toronto on Monday. Mkango provides no details of the proposed fundraise but says the fresh cash will be use for capital expenditure to support the scale-up of its recycling and rare earth magnet manufacturing operations.
Late last month, Mkango said it agreed to buy the remaining 10% stake in HyProMag GmbH in Germany. The stake is bought for GBP1.1 million from Carlo Burkhardt, of which GBP757,900 is in Mkango shares issued at 29.5 pence per share and the rest in cash. HyProMag Germany is commissioning a rare earth magnet recycling and manufacturing plant in Pforzheim, a project selected to be strategic under the European Union Critical Raw Materials Act.
Current stock price: 35.00p
12-month change: down 26%
By Tom Waite, Alliance News editor
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