I will check about the number of times an EPL can be renewed in Namibia.
It could well be more than once but I doubt if its unlimted (ie multiple) times. Also the area is usually reduced on renewal.
Another point to bear in mind is that state-owned Epangelo Mining is allocated first rights on licences for "strategic minerals" now- which include uranium.
The government has clarified that this proviso does not extend to existing valid exploration licences or conversion of these to mining licences and I doubt there would be a problem on a first renewal.
But after that? I suspect Metals may find it advisable to bring in Epangelo as a minority partner at some stage- Depp yellow has cut it in (to a less prospective part of its licence area).
MLS Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
