Power Metal Resources plc has been granted a two-year extension to prospecting licences PL310/2016 and PL311/2016 at the Molopo Farms Complex, southwest Botswana.
OWNERSHIP
Power Metal holds a 40% direct interest in the project and a 20.65% shareholding in Kalahari Key Mineral Exploration Pty Ltd (KKME), which holds the remaining 60% interest.
Kavango Resources plc currently has an option to acquire up to 85.2% of KKME including Power Metal’s shareholding.
Power Metal chief executive Paul Johnson said that Kavango was continuing its due diligence with findings expected in the coming weeks.