Kavango will publish a detailed exploration plan for Molopo Farms if the offer to acquire Kalahari Key Mineral Exploration Proprietary Ltd is accepted by holders of at least 90% of the shares in the company. This could include immediate diamond core drilling.
Kavango Resources PLC announced on Monday that it has made an offer to buy out Kalahari Key Mineral Exploration Proprietary Ltd., which owns 60 percent of a nickel project in Botswana.
The provisional offer replaces a proposed deal outlined in a previous program option announcement, according to the London-listed mining company.
Kavango said the complex transaction deals with a number of minority interests, and it has agreed to a deal structure with 11 of the target’s 12 interests.
“Molopo Farms has significant potential and Kavango has the team on the ground to accelerate exploration here rapidly. We have a drill rig ready to mobilize that we’ve waited long enough to deploy,” Chief Executive Ben Turney said.