BCL Mine joint venture kicks off
Wednesday, March 12, 2014
On Monday, the Australian firm, Botswana Metals Limited, announced that it had secured retention licence extensions to three properties, the main pre-condition to the commencement of the joint venture originally agreed upon in November 2012.
Under the deal, BCL Mine had agreed to spend US$4 million (P35.4m) in a drilling programme, thus earning 40% equity in the venture. BCL Mine would also have the option of raising this to 70% by funding the project through to the completion of a bankable feasibility study.
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