trending Market Intelligence /marketintelligence/en/news-insights/trending/Nh1-L5hDpqYiM4_zhyfBjQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Laconia to acquire Kraaipan gold-nickel project in Botswana

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020


Laconia to acquire Kraaipan gold-nickel project in Botswana

Laconia Resources Ltd. said Jan. 31 that it entered into a binding agreement to acquire Kraaipan Founders Pty. Ltd. and all its subsidiaries, which hold 100% of the Kraaipan gold-nickel-copper-platinum group metals project in Botswana.

Under the terms, Laconia paid a nonrefundable deposit of A$50,000 to secure the exclusive right to acquire the project. The company will pay a further of A$50,000 upon completion for past expenses.

In addition, Laconia is required to issue 450 million shares to the vendors or their nominees on completion at a deemed issue price of 0.2 Australian cent apiece.

The vendors will be granted a 1% net smelter return royalty on all processed mineral products sold from the project.

Moreover, Laconia will issue additional shares to the vendors or their nominees upon achieving certain project milestones.

No person will acquire a relevant interest of greater than 20% in the company or as a result of the shares issued at completion of the acquisition.

The deal is subject to certain conditions, including both parties completing due diligence by Feb. 28 and the signing of a definitive sale and purchase agreement. Meanwhile, Laconia will raise A$2.4 million by March. 31, among others.

The Kraaipan project comprises a single but extensive prospecting license, PL232/2016, covering 866 square kilometers.

The company plans to immediately initiate an extensive exploration program utilizing geochemical and geophysical techniques successfully employed in Australia but not applied in this terrain.

Additionally, Laconia anticipates to seek approval from shareholders for a consolidation of securities on issue on a 1-for-10 basis.