12th May 2016 11:21
LONDON (Alliance News) - African Potash Ltd on Thursday said the exploration licence for the Lac Dinga project in the Republic of Congo has been renewed for a further two years, along with the right to be extended for a further two years after that.
As part of the renewal, the licence area was also reviewed and African Potash said it has relinquished a portion of the concession area which overlapped with the basin margin, which African Potash had not considered particularly prospective.
"We are delighted to have received formal confirmation that the exploration licence for Lac Dinga has been renewed for at least a further two years," said African Potash Executive Chairman Chris Cleverly.
African Potash shares were up 18% to 0.65 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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