Obtala Resources Plc signed an option agreement to acquire five additional gold licenses in the Lake Victoria goldfield in Tanzania, the AIM-listed exploration company said on Wednesday.
It has the option to buy each license for about $200,000. “Obtala remains fully funded to continue its exploration program over all its license areas for 2009 and thereafter,” said chairman Frank Scolaro in a statement. At 0839 GMT, the shares were up 5.2% at 25.25 pence. (Reuters)