30 December 2019
BWA GROUP PLC
(“BWA” or the “Company”)
Cameroon Exploration Licence
BWA Group plc, (BWA), the NEX Exchange traded investment company with interests primarily in the mining sector, is pleased to announce that, after four years of negotiation with the Cameroon government, its wholly-owned subsidiary, BWA Resources Cameroon Limited, has been awarded Permit No. 637, an exploration licence covering 497 sq km of Central Cameroon in an area known as Nkoteng, for researching the viability of commercial exploitation of rutile sands and other minerals including kyanite, ilmenite, zircon and other related minerals. The permit is for three years and there is a requirement for a financial commitment of £260,000 in year 1 to be followed by £195,000 in each of years 2 and 3.
BWA is delighted that its perseverance in negotiating the licence has been successful and anticipates the value attributable to the licence will more than fully support the valuation of the expenditure to date in the company’s accounts.
Nkoteng is some 60 miles North East of the capital, Yaoundé, and 170 miles 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.