Share Talk Ltd

Zak Mir talks to Colin Bird, Executive Chairman, Kendrick Resources, as the mineral exploration and development company, announces that it has entered into a binding and exclusive Option Agreement to acquire not less than 70% interest on terms to be agreed with Bonya Exploration Pty Namibia.Kendrick Resources Plc (LON: KEN) has entered into a binding and exclusive option agreement to acquire a minimum 70% interest in two rare earth exploration licences, EPL4458 and EPL6691, in Namibia. The exclusivity period runs until May 19, 2026.The licences, located southwest of Aus, have returned encouraging historical results, with peak Total Rare Earth Oxide grades of up to 4.47% and an average grade of 3.12%. Sampling has identified significant concentrations of neodymium, praseodymium and samarium, elements that are critical for the manufacture of high-performance permanent magnets.Kendrick said it will immediately begin assaying, trenching and drill-target identification as part of its due diligence programme, ahea