1st Nov 2019 06:55
(Alliance News) - Argos Resources Ltd said Thursday that the Falkland Islands Government has extended the second term of its PL001 Licence.
The Falkland Islands based exploration company said the extension is for 18 months to May 1, 2021, with no additional work commitments.
Argos Resources noted it has a commitment to drill one exploration well within the licence area by the end of the second term of the licence.
Chair Ian Thomson said: "This reflects the collaborative approach we seek to maintain with the government. While the extension is welcome, it remains our intention to secure partners and commence exploration drilling as soon as possible."
Argos Resources shares closed 3.8% higher in London at 2.49 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
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