Kavango Resources PLC - Metals exploration company with assets in Botswana and Zimbabwe - Acquires a 90% working interest in six prospective licences in Botswana's Kalahari copper belt for AUD1.5 million, or around GBP784,515, from Global Exploration Technologies (Pty) Ltd. Says it will pay GET two further instalments of AUD500,000 within 90 days and 180 days of the acquisition's completion. Says purchase provides Kavango with an extensive single contiguous project area in the Kalahari copper belt which covers 7,629 square kilometres. Chief Executive Officer Ben Turney comments: "These new licences grant us complete control of a contiguous, prospective system in an underexplored section of the KCB, a proven copper/silver region that hosts numerous mines and deposits."
Current stock price: 0.80 pence, up 10%
12-month change: down 56%
By Sabrina Penty, Alliance News reporter
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Kavango Resources (KAV)