Will Dawes, chief executive of Mkango Resources Ltd. (LON:MKA) (TSX-V:MKA), tells Proactive's Andrew Scott that following recent shareholder and exchange approvals, investments totalling ?6mln (C$10.5mln) made by Talaxis Limited have been received by the rare earths explorer's subsidiaries.
Talaxis has invested ?5mln (C$8.8mln) into Lancaster Exploration Limited - the subsidiary which holds the licence for the advanced stage Songwe Hill rare earths project in Malawi - in return for a 20% interest in the business.
They've also invested ?1mln (C$1.8mln) into a new Mkango subsidiary, Maginito Limited, in return for a 24.5% interest in Maginito.
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