StockMarketWire.com - Kavango Resources said it had signed a joint venture agreement with LVR GeoExplorers in respect to two prospecting licences located in the Botswana section of the Kalahari Copper Belt. The agreement provided Kavango with a staged earn-in, which would give the company the right to earn up to a 90% interest in both or either of the prospecting licences. Under the agreement, Kavango would spend BWP1.25m on each of the licences to acquire a 25% stake and its interest in either of the licences could be extended by further expenditure in 3 stages to earn a maximum of 90%.

Exploration of these licences would commence shortly, the company said.

At 9:43am: [LON:KAV] Kavango Resources Plc Ord 0.1p share price was -0.1p at 1.28p



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