Argos Resources gets 12-month extension to Falklands licence

Falkland Islands-based exploration company Argos Resources announced on Tuesday that the Falkland Islands government has extended the second term of its PL001 licence by 12 months, to 1 May 2022.

The AIM-traded firm said it has a commitment to drill one exploration well within the licence area by the end of the second term of the licence.

“We are very pleased that the Falkland Islands government has awarded a licence extension,” said chairman Ian Thomson.

“This reflects the collaborative approach we seek to maintain with the government.

“Our intention is to secure partners and commence exploration drilling as soon as possible.”

At 1216 BST, shares in Argos Resources were up 10.8% at 3.32p.