Since incorporation, the Company has acquired rights over five (5) granted exploration licences in Ethiopia. The Company is the licensee of the Dawa and Chakata Licences (through its Ethiopian registered branch office, Megado Gold Ltd), the Mormora Licence is held in the name of Crau Mining, S.L., a private Spanish entity, but controlled by the Company, and the Babicho and Chochi Licences are held by Ethiopian companies, of which the Company is the 80% shareholder.
The Company (through its branch office Megado Gold Ltd) has applied for another exploration licence over an area of approximately 227 km² in a proximate region, called the Dermi Dama Licence.
The Company intends to conduct exploration activities on the Licences with a view to evaluating and exploiting the gold opportunities presented as a result of exploration.
It is anticipated that MEG will list on the ASX during October 2020.
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