The termination of the joint venture is in preparation for the change of business activity of the Company with the acquisition of Yatango and is a reflection of the current market environment for early stage exploration in Zambia.
Whilst the exit from the joint venture is disappointing, the Board is extremely excited about the prospectus for Yatango and looks forward to future developments.
The company has no liabilities or commitments remaining in respect of the Kalengwa Joint Venture.
The company has called for a general meeting of shareholders on 6 July 2015 to approve the acquisition of Yatango and will continue to update shareholders as the acquisition advances.
