Business
Option Exercise for Exploration Licence in Zambia
Kendrick Resources PLC announced on September 29, 2025, that it has exercised its option to acquire the Blue Fox Licence, numbered 34412-HQ-LEL, in northwest Zambia. As part of the agreement, the company is committed to spending a minimum of USD 500,000 on assessing and exploring the Licence area over the next 30 months. The Board continues to seek new resource project opportunities and is discussing financing options. Disclaimer*
About this update from Kendrick Resources Plc
[{"type":"text","content":"\n\n\n \n \n \n \n29 September 2025\nKendrick Resources PLC\n (\"Kendrick\" or the \"Company\")\nExercise of Option for Exploration Licence in Zambia\n \nKendrick Resources Plc (LSE: KEN), the mineral exploration and development company, is pleased to announce that, further to its announcement on 10 June 2025, it has exercised its option in relation to the acquisition of the Blue Fox Licence, 34412-HQ-LEL located in northwest Zambia (\"Licence\") (the \"Agreement\"). Accordingly, the Company is committed to spending not less than USD500,000 on assessing and exploring the Licence area over the next 30 months.\n \nColin Bird, Executive Chairman of Kendrick Resources Plc commented: \"We are pleased to have exercised our option over the Blue Fox Licence which is located within the External Fold and Thrust Belt in northwest Zambia a country well known to the Board and where the Company has access to a large knowledge base and experienced geological personal. The licence is highly prospective and the External Fold and Thrust Belt which extends into the Democratic Republic of Congo hosts the Tenke Fungurume and Mutanda mines. As previously announced, the Board continues to seek new resource project opportunities in areas where the Board has expertise in, including Southern Africa, and is currently also discussing with brokers and third parties to obtain financing for this strategy. We will keep shareholders advised on our progress with this strategy.\"\n \nFor further information, please contact:\n\n\n\n\nKendrick Resources Plc:\nChairman\n\n\nTel: +44 2039 616 086\nColin Bird\n\n\n\n\nNovum Securities\nFinancial Adviser\nJoint Broker\n\n\nTel: +44 207 399 9400\nDavid Coffman / Anastassiya Eley\nJon Bellis\n\n\n\n\nShard Capital Partners LLP\nJoint Broker\n\n\nTel: +44 207 186 9952\nDamon Heath / Isabella Pierre\n\n\n\n\n \n \n \n\n","length":5229,"tagName":"div"}]