May 18 (Reuters) - Mkango Resources Ltd MKA.V :
* Says proposes to undertake a three to one consolidation on
basis of 3 pre-consolidation shares for 1 post-consolidation
share
* Says consolidation would have effect of reducing number of
shares outstanding prior to placing from 121.3 million to 40.4
million
* Under terms of placing, Corporation will issue 30.3
million post-consolidation units at a post-consolidation price
of 3.3 pence per unit
* Expected proceeds of placing will provide co with
sufficient working capital for one and half yrs from completion
of placing
Source text for Eikon: ID:nCCN9Nys0D
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