(Alliance News) - Unicorn Mineral Resources PLC on Tuesday said that the company will adopt a new exploration strategy.
The Irish-based minerals exploration and development company will expand its focus beyond its operation in Limerick, Ireland to include advanced and near-term production zinc, lead, copper, and silver projects located in East and Southern Africa.
The decision was unanimously supported by the board following a proposal by Executive Director Jason Brewer who was first appointed in December. Brewer's background in the mining industry gave the company access to contacts across Africa providing Unicorn with new opportunities to expand and enhance its portfolio of mineral rights and licenses.
Since embracing this new strategy the company has started to conduct initial technical and legal due diligence on a select number of "high-value base metal exploration and development projects".
Unicorn's Chair Patrick Doherty said: "I believe we have the necessary experience to both properly review and assess such projects and with the experience of our African-based Executive Director, Jason Brewer, be able to successfully advance them towards production and bring value into the company and to our shareholders."
Unicorn shares were up 9.6% to 7.40 pence each in London early on Tuesday afternoon.
By Elijah Dale, Alliance News reporter
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Unicorn Mineral (UMR)