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Revised acquisition terms will see Kalahari Copper Limited’s Namibian assets included in a deal first announced in July, broadening the scope of Oscillate PLC’s purchase beyond Botswana. Under the new non-binding Heads of Terms, Oscillate is set to acquire both the Botswanan and Namibian portfolios, significantly expanding its presence across two of Africa’s most prospective copper belts.
The updated deal paves the way for Oscillate to secure 100% ownership of four Namibian exploration licences in the Kaoko Basin, two of which are pending renewal alongside 17 licences in Botswana’s Kalahari Copper Belt and Bushman Lineament. The Kaoko Basin is considered the interpreted extension of the Central African Copper Belt, one of the world’s most prolific copper producing regions.
Recent drilling campaigns in Namibia have already confirmed multiple copper prospects, intersecting high-grade copper and silver mineralisation across several sites. These results, combined with the vast exploration acreage, position Oscillate as one of the largest landholders in two of Africa’s most promising copper belts.Oscillate Chief Executive Officer, Robin Birchall, said the revised terms represent a “potential game-changer” for the company.
Birchall explained, “The revised terms outline a deal which is a major step forward in our strategy of building a leading mid-cap copper and future metals exploration and development company. As a result of this acquisition, we will be one of the largest landholders in two exciting areas for sedimentary-hosted copper exploration, being the Kaoko Basin in Namibia and the Kalahari Copper Belt in Botswana. There are known mineral discoveries in both licence areas but what makes the Namibian assets especially exciting is that they are significantly further advanced, with development-grade copper identified across multiple prospects following the 2024 drilling programmes.”
He concluded that Oscillate will now work to finalise binding agreements and complete the acquisition, subject to satisfaction of transaction terms. The company also intends to graduate to the AIM market to access greater capital and provide shareholders with improved liquidity.
