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Kavango Resources Share Price Climbs after Being Awarded EMP

Sam Boughedda trader
Updated 28 Oct 2021

Kavango Resources (LON: KAV) shares have gained over 1.6% Thursday after informing investors that it has been awarded an Environmental Management Plan (EMP) that covers all of its prospecting licences in the Kalahari Copper Belt.

The EMP means the company will be able to carry out drilling work at its prospecting licences in Botswana for 2 years. 

A ground magnetic survey is currently underway on the southern limb of the Acacia target in the South Ghanzi Project. Work is also advancing to optimise future soil-sampling programmes, to account for changing ground conditions across Kavango's prospecting licences.

“As operator of 12 prospecting licences, which cover over 6,300km2 of prospective ground for possible major copper/silver deposits, Kavango is now permitted to conduct drilling operations here for the next two years,” said Ben Turney, CEO of Kavango Resources

“Our primary focus is currently on the promising Acacia target in the South Ghanzi Project. Work is ongoing on Acacia to optimise target definition, to maximise our chances of success,” Turney added. 

The EMP also covers the 10 prospecting licenses it holds in a joint venture with Power Metal Resources (LON: POW).

Kavango Resources shares are currently trading at 5.15p.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.