27th Apr 2021 10:16
(Alliance News) - Argos Resources Ltd on Tuesday said the Falkland Islands government has extended the second term of its PL001 licence by twelve months, to May 2022.
The Falkland Islands-based exploration company said it has a commitment to drill one exploration well within the licence area by the end of the second term of the licence.
"We are very pleased that the Falkland Islands government has awarded a licence extension. This reflects the collaborative approach we seek to maintain with the government. Our intention is to secure partners and commence exploration drilling as soon as possible," said Chair Ian Thomson.
Argos Resources shares were trading 13% higher in London on Tuesday at 3.40 pence each.
By Evelina Grecenko; [email protected]
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