The company signed a share purchase agreement in April 2011 to buy 95% of the issued and outstanding shares of Bonnyridge, which is the owner of the three mineral exploration license blocks covering 2,965.6 sq km.
An amending agreement was subsequently signed by Sono, which further extended the closing of the purchase until final ministry approval was obtained.
According to the company, the area where the licenses are located has been widely characterized as an extension of the Kalahari Copper Belt, which is home to many producing copper mines and many more recent and successful exploration activities.
