Baobab Resources plc (LON:BAO) Update on Iron/Phosphate and Coal Exploration at Muande Joint Venture Project
Baobab Resources plc (LON:BAO) is an iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique. The Company announced on 15 November 2010 the signing of a Joint Venture (the 'Joint Venture') with North River Resources plc (LON:NRRP) in relation to North River's Muande project (the 'Project') in the Tete province of Mozambique. The Muande project comprises two exploration licences covering an area of 338km2 located approximately 25km northwest of the provincial capital of Tete and contiguous with Baobab's Tete project.