Corcel plc has renewed its exploration licence 1165 to February 2024 for its 100% owned WoWo Gap cobalt-nickel project in Papua New Guinea.
DEVELOPMENT
The asset is part of the company’s recently announced restructure into an Asian-based joint venture.
Corcel said it had of late focused on meeting commitments for the licence, which lies 200km from Port Moresby, including maintenance of existing infrastructure and equipment.
Future exploration and development is likely to be focused on a potential direct shipping ore operation.