Shares slide after Mkango Resources completes £12.5m fundraise, but oversubscription signals longer-term confidence

The AIM-listed rare earths company upsized its placing after strong demand, though shares fell back on dilution concerns. Shares in Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF), the rare earths developer, fell 13% to 33.6p on Wednesday despite the company completing a fundraise that was significantly oversubscribed and upsized from its original £10 million target to £12.5 million.