It's a New Year, it's a new Eastport
Last year may be a year some of us want to forget with all the changes to our lives demanded by the arrival of Covid-19. The friends and family of Eastport, so far, were spared but let’s keep those who were less fortunate in our thoughts. Botswana, as a nation, continues to battle Covid-19 and clearly, they are doing an excellent job; a consistently low number of infections and overall low number of losses attest the effort of all – Pula!
Covid-19 disrupted Eastport’s operations like it did everywhere else. During the year Eastport acted in good faith and met all its obligations and even took on additional responsibilities that kept a number of people employed. We are continuing where possible to do our part.
Nevertheless, welcome to 2021 – Surgite!
In keeping with the spirit of “Eyes Open” coupled with the development of new business relationships in London, we are creating opportunities that will carry the company forward for years to come. Go to the home page, or more directly to the projects pages themselves, and you will see how busy we have been.
At Jwaneng the prospecting licences (PLs) were renewed for two additional years – thank you Department of Mines (DoM). Subsequently a contract was awarded to prepare an Environmental Management Plan (EMP) for Eastport as a prelude to drilling. The EMP is now in the final stages of the approval process. We believe some of our kimberlite targets will be drilled within a few months.
Eastport, through a majority owned subsidiary, was also awarded two additional 3-year PLs on 1 January 2021; one each for base metals - targeting nickel-copper-PGEs - and uranium. Project descriptions and their locations can be found on their respective project pages. Additional base metal applications were also recently submitted to the DoM and hopefully they will be awarded in the very near future.
The company also entered into an option agreement to acquire another local company focused on copper exploration. The transaction is in its final stages and hopefully we will be able to reveal it in the very near future. For now, we are tied to a confidentiality agreement – sorry.
Another opportunity Eastport added to the portfolio is actually an investment in another company. Premium Nickel Resources, a private corporation, has submitted an Indicative Offer (IO) to acquire the mining assets of BCL in Botswana. Eastport anticipates a positive result for PNR on the basis of the quality and strength of the team at PNR, the depth of their due diligence, and their financial acumen. If successful Eastport will have an opportunity to participate in the provision of further financings to help restore this important business to the economy of Botswana.
All that is above is however only the technical part of the story. In the next few months Eastport is expecting offer an opportunity for our friends and family to participate by way of a listing on one of the London Exchanges.
We encourage you to sign up and watch this space for our news flow. 2021 is going to be an exciting year for both Eastport and our host; Botswana.