Mkango Resources (MKA) Q4 2025 earnings summary

Executive summary

• Released year-end 2025 financial statements and filed a NI 43-101 definitive feasibility study for the Songwe Hill Rare Earths Project in Malawi.

• Achieved significant milestones in rare earth magnet recycling and manufacturing projects across the UK, Germany, and the US.

• Expanded capital base with a post-year-end equity raise of £11.7 million (approx. $15.5 million).

Financial highlights

• Cash position of $3.1 million as of 31 December 2025.

• Raised net proceeds of £11.7 million through share issuance after year-end.

Outlook and guidance

• Evaluating phased expansion of UK and German recycling capacity, targeting up to 1,000 tpa in the UK and 750 tpa in Germany.

• US expansion plans include increasing magnet and alloy production to 4,656 metric tons per annum and a planned US public listing.