Kavango Resources PLC said Tuesday that it has renewed six prospecting licenses, and was awarded one new prospecting license in Botswana by the Department of Mines.
The London-listed mining company said that the new license and five of the renewals are in the Kalahari Suture Zone, and one renewal was at the Ditau project. The company’s total mineral rights in Botswana now cover 14,316 square kilometers.
The securing of the licenses will allow the company to plan a substantial work programme across its portfolio and advance discussions with customers. The six licenses in the Kalahari Suture Zone are particularly important, confirming its hold over the copper and nickel project, Kavango said.
“With its strategically significant mineral-rights package, Kavango is well placed to become a major player in the Botswanan metals’ exploration space,” Chief Executive Ben Turney said.
Shares at 0738 GMT were up 0.08 pence, or 4.6% at 1.73 pence.
