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Events / Business / Mkango Resources Completes £12.5M Fundraise
Business fundraise completion

Mkango Resources Completes £12.5M Fundraise

Analysis based on 7 articles · First reported Apr 01, 2026 · Last updated Apr 10, 2026

Sentiment
70
Attention
4
Articles
7
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The successful and oversubscribed fundraise by Novo Resources is a positive signal for the company, providing capital for strategic growth initiatives and strengthening its balance sheet. This event is likely to be viewed favorably by investors, potentially leading to increased confidence in Novo Resources' stock and its future projects in rare earth magnet recycling and resource development.

Mining Renewable energy Automotive
Event Summary

Novo Resources successfully completed an oversubscribed fundraise, raising gross proceeds of £12.5 million (approximately C$23.0 million). The fundraise involved the issuance of 37,878,788 new Common Shares at a price of 33 pence per share through various channels including a placing, LIFE Offering, retail offer, and subscription. The new shares represent approximately 10.8% of Novo Resources' issued share capital prior to the fundraise. The proceeds are intended to support growth opportunities, including a potential acquisition in Germany, capital expenditure requirements at its UK and German operations, and working capital. The Offer Shares are expected to be admitted to trading on AIM and commence trading on the TSX Venture Exchange on April 10, 2026. Several financial firms, including Peel Hunt, H&P Advisory Limited, GHO Capital Partners, Red Cloud Securities, and RA Capital Management, acted as joint bookrunners and advisers for the fundraise. Tim Slater, interim CFO of Novo Resources, participated in the Retail Offer, which was noted as a related party transaction.

Entities Involved
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Novo Resources
Novo Resources successfully completed an oversubscribed fundraise of £12.5 million, strengthening its balance sheet and providing capital for growth opportunities, including a potential acquisition in Germany and capital expenditures in its UK and German operations.
Importance 100.0 Sentiment 75.0
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H&P Advisory Limited
H&P Advisory Limited acted as a joint bookrunner for the fundraise, assisting Novo Resources in raising capital.
Importance 50.0 Sentiment 20.0
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Peel Hunt
Peel Hunt acted as a joint bookrunner for the fundraise, facilitating the placement of new Common Shares for Novo Resources.
Importance 50.0 Sentiment 20.0
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GHO Capital Partners
Alternative Resource Capital, a trading name of GHO Capital Partners, acted as a joint bookrunner for the fundraise, contributing to the successful capital raise for Novo Resources.
Importance 50.0 Sentiment 20.0
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Red Cloud Securities
Red Cloud Securities acted as Canadian Adviser for the placing and LIFE Offering, earning a commission for its services to Novo Resources.
Importance 40.0 Sentiment 20.0
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RA Capital Management
RA Capital Management acted as Corporate Finance Adviser, introducing investors for the placing and subscription for Novo Resources.
Importance 40.0 Sentiment 20.0
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Maginito Limited
Maginito Limited is a subsidiary of Novo Resources, focused on rare earth magnet recycling, and will benefit from the fundraise proceeds for growth initiatives.
Importance 30.0 Sentiment 50.0
subs
Mkango Resources — Mkango Rare Earths UK Limited
Mkango Resources — Mkango Rare Earths UK Limited is a wholly-owned subsidiary of Maginito Limited, focused on long loop rare earth magnet recycling in the United Kingdom.
Importance 20.0 Sentiment 50.0
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HyProMag Limited
HyProMag Limited is a wholly-owned subsidiary of Maginito Limited, focused on short loop rare earth magnet recycling in the United Kingdom.
Importance 20.0 Sentiment 50.0
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HyProMag GmbH
HyProMag GmbH is a subsidiary of Maginito Limited, focused on short loop rare earth magnet recycling in Germany.
Importance 20.0 Sentiment 50.0
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HyProMag USA LLC
HyProMag USA LLC is a joint venture between Maginito Limited and CoTec Holdings, rolling out HPMS recycling technology in the United States.
Importance 20.0 Sentiment 50.0
per
Tim Slater
Tim Slater, interim CFO of Novo Resources, participated in the Retail Offer, which was considered a related party transaction.
Importance 10.0 Sentiment 0.0
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Crown PropTech Acquisitions
Crown PropTech Acquisitions has a business combination agreement with Novo Resources to list the Songwe Hill and Pulawy projects on NASDAQ.
Importance 10.0 Sentiment 0.0
per
Will Dawes
Will Dawes, CEO of Novo Resources, commented on the successful completion of the fundraise, highlighting investor confidence in the company's strategy.
Importance 10.0 Sentiment 0.0
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CoTec Holdings
CoTec Holdings is a minority owner of Maginito Limited and a joint venture partner in HyProMag USA LLC, involved in rare earth magnet recycling.
Importance 10.0 Sentiment 0.0
+ 12 more entities View on Dashboard
Relationships
Novo Resources parent ↔ Maginito Limited Novo Resources is the parent company of Maginito Limited, holding a 79.4% controlling equity stake to advance its rare e
Novo Resources related ↔ Mkango Resources — Mkango Rare Earths UK Limited
Maginito Limited affiliate ↔ Mkango Resources — Mkango Rare Earths UK Limited Maginito Limited operates as a sister company to Mkango Rare Earths UK Limited, with both entities functioning as subsid
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