Company Overview:

Mkango Resources Ltd. (TSXV: MKA) is engaged in exploration for rare earth elements and associated minerals in the Republic of Malawi. The company holds interests in four exclusive prospecting licenses in Malawi namely the Phalombe licence, the Thambani licence, the Chimimbe Hill licence and the Mchinji licence. 

This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.  

Fundamental Highlights:

Advances U.S. Expansion Strategy, Strengthening Long-Term Growth Outlook: The company has advanced pre-feasibility studies for HyProMag USA plants, targeting a tripling of U.S. magnet recycling capacity by 2029. Supported by decent NPV economics at the Texas Hub, the strategy enhances scalability, domestic supply security, and underpins plans for a future U.S. public listing.

Key Investment Risks: Commodity Price Volatility, Execution Risk, Permitting & Regulatory Risk, Inflation, etc

MKA’s Technical Observation:

Mkango Resources shows improving technical strength, holding above its 14-day moving average with rising volume on recent gains. The RSI is trending upward near neutral, suggesting building momentum without overbought conditions. Price consolidation above key support hints at a potential continuation toward higher resistance levels.

MKA’s Daily Price Chart

As per the above-mentioned price action and technical indicators analysis, a ‘Speculative Buy’ rating has been given Mkango Resources Ltd. (TSXV: MKA) at the closing market price of CAD 0.90, as of 12^th January 2026. Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain Macro & Micro-economic data and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on January 12, 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.