Kavango Resources rises on deal to buy 6 licenses in Botswana
25/09/2023 08:49
** Shares of Botswana-focused mineral exploration firm
Kavango Resources KAV.L jump 8.3% to 0.7p
** Co enters agreement with Global Exploration Technologies
Limited (GET) to acquire six new prospecting licenses (PL)
** GET is a wholly owned subsidiary of ENRG Elements
EEL.AX
** KAV says to acquire a 90% working interest in six PLs
located in Botswana's Kalahari Copper Belt
** Co says to complete the acquisition, it will pay GET a
total of AUD $2.5 million ($1.61 million) in cash
** As of last close, stock down 48.15% so far this year
($1 = 1.5559 Australian dollars)
(Reporting by Zainab Saifuddin Saifee in Bengaluru)
((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))