Hodges Resources (ASX:HDG) announced a joint venture agreement with Meerkat Energy in which the company can acquire up to 80% of Meerkat’s two main coal prospects in Botswana.
Highlights from the press release include:
- Hodges Resources Ltd to increase ground holding in Botswana
- PL168/2010 is located adjacent to the 4.2 Bt Takatokwane coal project (Nimrodel Resources Ltd (*)
- PL604/2009 is strategically located as a source of providing power in the areas at the limit of the current power distribution network
Managing Director, Mark Major, commented:
Hodges has positioned itself to exploit the full potential of Botswana to develop as a market of
regional significance. The Company has previously been successful in its exploration work, identifying
resources prospective for open-cut mining and of a quality to satisfy export markets. Building on this,
we are now extending our holdings in Botswana at a time that is conducive to securing strategic assets
on favourable commercial terms for shareholders.