Mkango Resources
MKA · AIM · Basic Resources · mcap £100m · 30.8p 1 open situation →
Briefing
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Project milestones
HyProMag USA magnet plants
Pre-feasibility completed; Northlake in detailed engineering
HyProMag USA is building its first plant at Northlake, Texas, which is in detailed engineering with Phase 1 commissioning expected mid-2028. On 27 Oct 2026 an independent PFS covered three further plants plus a Central Texas Hub, with post-tax NPV of US$1.85–2.06bn against capex of US$623–656m. The Northlake NPV was cut to about US$723m from US$797m (22 Jun 2026).
- Next milestone
- Northlake Phase 1 commissioning expected mid-2028; expansion to progress to a Feasibility Study at the appropriate time 27 Oct 2026 ↗
- PFS NPV
- Post-tax US$1,854m (Case 2) to US$2,062m (Case 1), three new plants only, excluding Northlake 27 Oct 2026 ↗
- PFS IRR
- Post-tax 31% (Case 2) to 36% (Case 1); payback 3 years to 2.3 years 27 Oct 2026 ↗
- Capex
- PFS plants approx. US$656m (Case 2) to US$623m (Case 1); Northlake approx. US$167m 27 Oct 2026 ↗
- Northlake NPV
- Approx. US$723m, down from approx. US$797m announced 22 June 2026 27 Oct 2026 ↗
- Capacity target
- About 6,000 t/yr salable material by 2034, including 4,192 t/yr of magnets 27 Oct 2026 ↗
Next: Northlake Phase 1 commissioning; expansion to progress to Feasibility Study
- 27 Oct 2026 Pre-feasibility completed; Northlake in detailed engineering
Closed · 1
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