SHUMBA ENERGY SIGNS OPTION TO ACQUIRE THE 2.45 BILLION TONNES MORUPULE SOUTH COAL PROJECT

The Board of Directors of Shumba Energy Ltd (“Shumba Energy” or the “Company”) is pleased to announce that the company has signed an option to acquire 75% of the Morupule South project from Hodges Resources.

The Morupule South Coal Project is located within the central eastern district of Botswana, directly to the south of the Morupule Colliery. The project has a resource of 2.45 billion tons of JORC compliant resources of which 380 million tons are in the measured and indicated categories. The Morupule Main seam represents 83% of the resources. 1.2 billion tons are amenable to open cut mining with initial waste to coal strip ratios of under 2 to1…Read more

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