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Arcadia Minerals Ltd has signed a binding farm-in agreement with Kaoko Metals Pty Ltd to accelerate development of its Karibib Copper-Gold Project in central Namibia. The transaction introduces a strategic exploration partner through a structured four-stage earn-in that delivers immediate value while preserving Arcadia’s long term exposure to upside. Under the agreement, Kaoko Metals can earn up to 100% of Arcadia’s 80% shareholding in Karibib Pegmatite Exploration (Pty) Ltd, which holds an 85% interest in the Karibib Project through Goas Pegmatite Exploration (Pty) Ltd.
The earn-in terms include a non-refundable A$35,000 deposit, an initial A$150,000 payment on settlement and a further A$250,000 one year later. Subject to milestones, Arcadia will also receive up to 2.25 million Kaoko shares and retain a Net Smelter Royalty on future production. The agreement is conditional on Kaoko completing its planned ASX listing, where it intends to raise a minimum of A$5 million through an IPO.
Arcadia Executive Chairman Jurie Wessels said the partnership provides growth without shareholder dilution. “This agreement with Kaoko Metals introduces a committed partner to fund exploration and development while allowing Arcadia to retain significant exposure to the project’s upside through cash payments, milestone shares and a royalty interest.It reflects our strategy of advancing our portfolio in a manner that minimises dilution to Arcadia shareholders while ensuring our projects continue to move forward,” explained Wessels.
Located within Namibia’s central mining corridor, the Karibib Project is prospective for copper and gold mineralisation. The deal gives Arcadia a pathway to advance the asset during favourable commodity markets without drawing on its balance sheet, while Kaoko expands its African project pipeline. Kaoko Managing Director Gerard O’Donovan, who previously guided Sun Silver Ltd through its ASX listing and growth in Nevada, said the agreement strengthens the company’s exposure to high-potential deposits. O’Donovan noted, “We are delighted to have signed this agreement with Arcadia, which will allow us to earn into a highly prospective project in a prolific Namibian jurisdiction. Alongside our copper project in the Kaoko Belt, this forms part of a suite of assets with immense potential we plan to unlock.”
Arcadia shared that the farm-in confirms its strategy of partnering with aligned investors to systematically advance its portfolio while retaining long term value participation. With Kaoko’s planned ASX listing and committed exploration spend, activity at Karibib is expected to ramp up, positioning the project for resource-definition drilling in one of Africa’s most stable mining jurisdictions.
