Kendrick Resources PLC (LSE:KEN) strategy is to enhance the value of its mineral resource projects through exploration and technical studies conducted by the Company or through joint venture or other arrangements with a view to establishing the projects can be economically mined for profit.
Given the Board’s extensive resource project experience in Southern Africa and the relative cost of developing projects in Southern Africa compared to Scandinavia the Board decided in 2025 that it is in the best interest of shareholders to seek new resource project opportunities in areas where the Board has expertise in, including Southern Africa, which is what it has been focusing on doing during the period and will update shareholders when an appropriate projects(s) are identified and in the meantime the Group will seek to minimise costs and in this regard on 29 September 2025 announced on 29 September 2025 the exercise of its option in relation to the acquisition of the Blue Fox Licence, 34412-HQ-LEL located in northwest Zambia and on 21 January 2026 that it has entered into a binding and exclusive Option Agreement to acquire not less than a 70% interest on terms to be agreed with Bonya Exploration Pty Namibia to evaluate EPL4458 and EPL 6691 licenses for the prospectivity of developing a Rare Earth mining project.
