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Rockfire Resources relinquishes 2 Mount Visi exploration licenses

Rockfire Resources PLC decided to relinquish two of its Mount Visi exploration licenses in Papua New Guinea with immediate effect and will instead focus on its project in Queensland, Australia.

The company said Jan. 7 that it made the decision due to extreme terrain, poor exploration results and the anticipated high cost of ongoing exploration.

Rockfire will retain the single Nakru license EL1462, which needs ministerial approval for renewal.