Mkango Magnetic Materials Limited (AIM/TSX-V: MKA) announced on 9 November 2026 its intention to utilise AIM's Capital Access Window in connection with a proposed fundraise, triggering a simultaneous trading halt on the TSX Venture Exchange. The proceeds, if raised, would be directed towards capital expenditure to support the scale-up of the company's recycling and rare earth magnet manufacturing operations, as well as general working capital. Mkango has also confirmed its intention to include a retail investor component as part of the proposed fundraise, broadening access beyond institutional participants.

Key Points

  • Mkango Magnetic Materials Limited (AIM/TSX-V: MKA) is a rare earth magnet recycling and manufacturing company listed in London and Vancouver
  • The company has entered AIM's Capital Access Window from 7.30am UK time on 9 November 2026 to conduct a proposed fundraise
  • Trading of common shares on the TSX Venture Exchange has been halted for the duration of the Capital Access Window
  • Investors should watch for a further announcement confirming the results, terms, and conditions of the proposed fundraise

Mkango Enters AIM Capital Access Window Under August 2026 Rule Changes

The Capital Access Window mechanism Mkango is utilising reflects updates to the AIM Rules for Companies announced in August 2026. The company states the voluntary temporary pause in trading is designed to enable it to reach a broader range of investors and provide pricing stability during the fundraise. The window became effective at 7.30am UK time on 9 November 2026 on AIM, with the TSX-V trading halt commencing simultaneously at the opening of Toronto trading hours. Both restrictions will remain in place until a further announcement is made disclosing the outcome of the proposed fundraise.

Proceeds Earmarked for Rare Earth Magnet Recycling and Manufacturing Scale-Up

Mkango's corporate strategy centres on becoming a market leader in recycled rare earth magnets, alloys, and oxides, targeting materials including neodymium, praseodymium, dysprosium, and terbium — critical inputs for electric vehicles, wind turbines, and clean energy technologies. The proposed fundraise would supplement existing cash reserves and fund capital expenditure across its operations, which span short loop recycling via HyProMag in the UK and Germany, medium loop recycling through its Remloy plant in Bitterfeld, Germany, and long loop chemical processing via Mkango Rare Earths UK Ltd. The company did not disclose a target fundraise amount in the announcement.

Maginito, HyProMag USA, and EU Critical Raw Materials Act Strategic Status

Mkango holds a 79.4 per cent interest in Maginito Limited, with the remaining 20.6 per cent owned by CoTec Holdings Corp. Maginito in turn holds a 100 per cent interest in HyProMag Limited, which holds a 90 per cent interest in HyProMag GmbH — a company selected as a Strategic Project under the European Union Critical Raw Materials Act. Mkango and CoTec are also expanding the Hydrogen Processing of Magnet Scrap technology into the United States through the 50/50 HyProMag USA joint venture. The Songwe Hill rare earths project in Malawi and the Pulawy separation plant in Poland have separately received EU Strategic Project designation.

Retail Offer Planned, But Fundraise Completion Remains Conditional

Mkango has stated its intention to include an offer to retail investors within the proposed fundraise if it proceeds, which investors may view as a positive signal of confidence in broader market appetite. However, the announcement is explicit that there is no certainty the fundraise will proceed, nor whether a retail offer will be included, nor whether sufficient funds will be raised. The proposed fundraise remains subject to applicable Canadian and UK laws, AIM Rules, TSX-V rules, and TSX Venture Exchange approvals. Investors should await the forthcoming results announcement before drawing conclusions on the transaction's scope or outcome.