The Kendrick Board has extensive resource project experience in southern Africa and has gravitated back to the region with the acquisition of the Bonya Exploration Pty Namibia (“Bonya”) Rare Earth Project located in Namibia.
Scandinavian nickel, copper and vanadium projects have been largely divested. Kendrick retains an interest in the Swedish Airijoki Vanadium Project and in late 2025 exercised an option in relation to the acquisition of the Blue Fox Licence, 34412-HQ-LEL located in northwest Zambia.
The Bonya Rare Earth Project has flagship status and after entering into an exclusive option agreement with Bonya to acquire not less than 70% interest in the Project in January 2026, the Company formally exercised the option on 23 February 2026.
The rare earth sector has become increasingly important internationally as governments and industry seek secure and diversified sources of the critical minerals required for permanent magnets, electric motors, renewable energy systems, advanced electronics and defence applications.
Colin Bird, Chairman
Corporate Governance
As a Company with a Standard Listing, the Company is not required to comply with the provisions of the UK Corporate Governance Code. The QCA Corporate Governance Code as published by the Quoted Companies Alliance, is tailored for small and mid-size quoted companies in the United Kingdom. The Company will, to the extent practicable for a company of its size and nature, follow the QCA Corporate Governance Code.
Significant Shareholders
The number of shares in issue as at 23 February 2026 was 293,248,152. For the purposes of AIM the number of shares not in public hands as at 23 February 2026 was 21.32%.