The project fits within the Boards criteria of pursuing joint venture opportunities in order to gain further exposure to surface mining opportunities.

Handa has signed a JVA with O’Okiep Copper Company and SHIP Copper company to fund and build a processing plant that will recover copper from broken rock lying on surface at the Copper Oxide Project, in the northern Cape Province of South Africa, some 600km north of Cape Town.

With funding in place in May 2019, Handa is will now commence the construction of the processing plant.

• Handa will remain the owner and operator of the processing plant;
• The Parties will supply the plant site and ensure all necessary infrastructure is in place for plant construction and operation;
• The Parties will ensure that all necessary mining and or processing permits are in place;
• In the first 24 months of full production, Handa and its lending consortium will retain 65% of the profit generated
• After this period Handa and its lending consortium will retain 33% of the profit