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Aim-listed explorer buys into Botswana PGMs prospect

24th May 2019

By: Marleny Arnoldi

Online News Editor

     

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Aim-listed African Battery Minerals (ABM) has entered into an earn-in agreement over a base metals and platinum group metals (PGMs) exploration opportunity in Botswana.

ABM has acquired 18.2% of Kalahari Key Mineral Exploration, which owns the Molopo Farms Complex project, for $194 810.

ABM may elect, by December 31, to earn a further 40% direct interest in the Molopo project, on condition that it commits to spending $500 000 on exploration by December 2020.

Should ABM exercise that earn-in option, the company will hold a total economic interest of 50.96% in the Molopo project, through its 18.2% interest in Kalahari and 40% direct interest in the project.

ABM will then have representation on the Molopo project’s operating committee and the Kalahari board.

The Molopo project comprises three exploration licences covering 2 725 km2, which are prospective for nickel, PGMs and copper.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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