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- Force Commodities (4CE) has been advised a 51 per cent-owned exploration licence at the Block 4 copper project will be subject to public tender
- This aligns with the Minerals Department in the Sultanate of Oman’s strategy of producing new concession blocks and offering them up for public tenderers
- The base metals explorer is seeking clarification from the Omani Mining Authority and is assessing all of its legal rights
- Despite this, Force’s other assets within the promising Block 5 and Block 10 projects remain unaffected
- Company shares are down 5.88 per cent and trading at 1.6 cents
Force Commodities (4CE) has been given new advice regarding the renewal of an exploration licence over the Block 4 copper project in the Sultanate of Oman.
The Ministry of Energy and Minerals in the Sultanate of Oman has said the 51 per cent-owned exploration licence will be subject to public tender.
This aligns with the Minerals Department’s strategy of producing new concession blocks for various mineral ores and then offering them up to generate competing offers from outside parties.
The base metals explorer is now seeking clarification from the Omani Mining Authority and is assessing all of its legal rights.
Despite this, Force’s mining and exploration licences in the 65 per cent-owned Block 5 and two other exploration licences near Block 10, remain unaffected.
Significantly, most of the company’s news flow this year has focused on the Mahab 4 and Hara Kilab deposits which are part of Block 5. Drilling at both deposits has recently intersected high-grade massive and disseminated copper sulphides.
Force will keep the market updated on the tender process for the exploration licence at Block 4.
Company shares are down 5.88 per cent and trading at 1.6 cents at 3:03 pm AEST.
