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Baobab Resources Plc (AIM: BAO) ('Baobab' or the 'Company') is pleased to announce that its Mining Concession application overlying the Tete pig iron and ferro-‐vanadium project has been accepted by the cadastre division of the National Department for Mines ('DNM') and has been assigned concession number 7055C. Once granted, the Mining Concession will be valid for a period of 25 years, renewable for a further 25 years.
Following a series of meetings with the DNM advisory team, the Company has also submitted a Mining Contract for review and presentation to the Cabinet of the Ministers. The Company is pursuing a timeline for the Mining Concession and Mining Contract to be granted before the end of January 2015.
All other exploration licences in the Company's portfolio have been prorogated for an additional year.
Ben James: Managing Director+258 21 486 404Jeremy Dowler: Chairman+44 1372 450529Frank Eagar: Finance Director
Canaccord Genuity Limited Neil Elliot Chris Fincken
+44 207 523 8308
Tavistock +44 207 920 3150 Financial Public Relations
Emily Fenton / Nuala Gallagher
participatory interest. The Company has been listed on the AIM of the London Stock Exchange (ticker BAO) since 2007.
AIM ANNOUNCEMENT | 19 NOVEMBER 2014 Page 1 of 1
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Baobab Resources Plc
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EXPLORATION STAGE |
CODE : BAO.L |
ISIN : GB00B19HQ991 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Baobab Resources is a exploration company based in Australia. Baobab Resources holds various exploration projects in Mozambique. Its main exploration properties are CHANGARA in Zimbabwe and TETE, MONTE MUANDE and MUANDE in Mozambique. Baobab Resources is listed in United Kingdom. Its market capitalisation is GBX 855.9 millions as of today (US$ 1.3 billions, € 1.2 billions). Its stock quote reached its lowest recent point on December 19, 2008 at GBX 1.00, and its highest recent level on September 10, 2010 at GBX 9.95. Baobab Resources has 342 340 000 shares outstanding. |