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Mineral exploration company Kavango Resources reported narrower losses on lower costs and said it expected to carry out tests at its nothern Hukuntsi section of the Kalahari suture zone, Bostwana, to identify priority targets for future drilling.
For the six months ended 30 June 2020, pre-tax losses narrowed to $254,000 from £295,000.
'The company increasingly believes that Hukuntsi has the potential to host very significant copper, nickel and platinum group metal deposits. The next steps at Hukuntsi will include our geologists selecting six of the most prospective "keels" at Hukuntsi for ... surveying to test for massive sulphide concentrations, which are known to be highly conductive,' the company said.
'Most recently the company formed a strategic joint venture with [London-listed] Power Metal Resources Plc ... [focused] on large-scale mineral exploration projects in Botswana,' it added.
At 9:19am: (LON:KAV) Kavango Resources Plc Ord 0.1p share price was 0p at 2.7p