Blenheim Natural Resources PLC Progress Report (4942I)
19 June 2017 - 10:58PM
UK Regulatory
TIDMBNR
RNS Number : 4942I
Blenheim Natural Resources PLC
19 June 2017
19 June 2017
Blenheim Natural Resources Plc
("Blenheim" or the "Company")
Progress Report
In view of recent shareholder enquiries, the board of Blenheim
wishes to provide an update on its activities. The Company is
currently reviewing a number of investment opportunities, including
lithium assets in West Africa, base metals in Africa and Europe and
precious metals in Africa.
Nashwan
On 30 March 2017, Blenheim announced that it has conditionally
acquired a 30 per cent interest in Nashwan Holdings Ltd ("Nashwan")
on terms set out in that announcement. Completion of the
transaction is conditional, inter alia, upon Nashwan successfully
being granted exploration licences over its two prospecting permit
areas within 90 days of completion of the agreement with the
vendor, being 10 August 2017, or such later date agreed between
Blenheim and the vendor of the interest in Nashwan.
Blenheim has satisfactorily completed due diligence on Nashwan
and its assets. Nashwan has advised the Company that the procedures
for granting the exploration licences have been completed and that
the licences are now waiting signature by the Minister of Mines.
Nashwan has engaged an exploration contractor and agreed the
programme of work.
Dieba Option and Xantus
On 18 January 2017, the Company announced that it had acquired
an option to purchase a 30 per cent interest in the Dieba
exploration permit in Southern Mali from Xantus Inc. ("Xantus") on
terms set out in that announcement ("Dieba Option").
Xantus is a BVI incorporated private mineral exploration
company, which has assembled a portfolio of permits in Mali and
Niger prospective for lithium, covering in excess of 1,500 sq km.
Further information on Xantus can be found on its website at:
http://www.xantus-inc.com/
Blenheim is in discussion with Xantus and its shareholder about
expanding its interest across the whole Xantus lithium portfolio.
The discussions and related inquiries are at an advanced stage, but
there can be no assurance yet that any transaction will be
concluded with Xantus in respect of either Dieba or any other
assets. If the discussions are successful, it is proposed that
Blenheim and Xantus will terminate the Dieba Option by mutual
agreement. The Dieba Option may be exercised by the Company on or
before 30 June 2017 and the directors will continue to assess the
opportunity and consider the Company's position in relation to the
Dieba Option as discussions with Xantus and its shareholder
progress.
A further announcement will be made in due course.
Other opportunities
Blenheim has been offered opportunities to make strategic
investments in a number of base and rare metal projects in Africa
and Europe, and precious metals projects in Africa. The Company is
currently evaluating these opportunities.
Further updates will be provided to the market in due
course.
For any further information please contact:
+44 (0) 1590
681125
Blenheim Natural +44 (0) 77
Mark Parker Resources plc 8417 0825
Colin Aaronson/Jamie
Barklem/ Daniel Grant Thornton UK +44 (0) 20
Bush LLP 7383 5100
+44 (0) 1483
Nick Emerson SI Capital Ltd 413500
Lucy Williams / Peterhouse Corporate +44 (0) 20
Duncan Vasey Finance Limited 7469 0932
Cornhill Capital +44 (0) 20
Colin Rowbury Limited 7710 9610
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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