South West Africa's Namibia is looking forward to get positive results from various mineral explorations in its soil.
The explorations are a bundle of various gold deposits in and around Otavi, and are referred to as Otjikoto Project. A gold rush has ensued on the fringes of the Oshikoto and Otjozondjupa regions, with Canadian investors in the lead.
If the exploration drills prove successful, the northern-central region is set for a revitalisation, with a big gold mine - adding to the cement production quarry and plant in Otavi set for commissioning early next year.
Canadian company, Auryx Gold Corp, informed investors in Canada of the completion of a transaction to acquire various mineral exploration interests in Namibia.
These consist of three mineral exploration licences for 193000 hectares, one mineral exploration renewal application for 49000 hectares, and one new mineral exploration application for 97000 hectares.
There are also other licences for several hectares of land, of which one belongs to TEAL Namibia.