6th Jan 2021 19:11
Kavango Resources PLC - London-headquartered metals exploration firm - Says Power Metal Resources PLC has elected to pay in full its initial USD150,000 cash contribution towards exploration into their strategic joint venture. This is one year ahead of schedule. The purpose of payment is to accelerate progress across the SJV's prospecting licences in both the South Ghanzi Project on the Kalahari Copper Belt and the Ditau Project in Botswana.
Kavango Chief Executive Officer Michael Foster says: "This early payment by Power Metals reflects the rapid progress we are making at South Ghanzi and Ditau. Initial results from both projects have been encouraging and we will now bring forward plans for more extensive and intensive exploration. If results continue to impress, this will put us on a quicker path to exploratory drilling later this year."
Power Metal stock price: 3.3 pence
Year-to-date change: up 20%
Kavango stock price: 3.2p
Year-to-date change: up 10%
By Arvind Bhunjun; [email protected]
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