18 March 2020
BWA GROUP PLC
(“BWA” or the “Company”)
Cameroon Exploration Licence
BWA Group plc, (BWA),the AQSE Growth Market traded investment company with interests primarily in the mining sector, is pleased to announce that its wholly-owned subsidiary, BWA Resources Cameroon Limited, has been awarded Permit No. 636, an exploration licence covering 132 sq km of Central Cameroon in an area known as Dehane, for researching the viability of commercial exploitation of rutile sands and other minerals including gold, kyanite, ilmenite, and other related minerals . The permit is for three years and there is an indicated financial commitment of £275,000 in year 1 to be followed by £207,000 in each of years 2 and 3 at current exchange rates.
BWA is delighted that its perseverance in negotiating for licences in Cameroon has resulted in the award of a second research licence to add to the licence already awarded at Nkoteng.
Preliminary work has started at Nkoteng using local geologists under remote direction from the UK and initial work will start at Dehane, also using local resources. It is believed the methods established will largely reduce any adverse effects from the present near universal travel restrictions.
Dehane is some 130 miles North West of the capital, Yaoundé, and 70 miles South East of the port of Douala.
For further information please contact:
|BWA Group plc |
Richard Battersby (Non-Executive Chairman)
|07836 238 172|
|Peterhouse Capital Limited |
|020 7469 0930|
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.