IN BRIEF: Oscillate's Kalahari acquisition to include copper portfolio
Oscillate PLC - London-based firm building its mining asset portfolio, as it aims to produce copper and base metals - Agrees revised terms for the acquisition of assets owned by Kalahari Copper Ltd. In July, Oscillate announced non-binding heads of terms to acquire prospecting licences over Kalahari’s Dalsu Prospects in Botswana. The revised terms include 100% ownership of Kalahari Copper’s Namibian Copper Project, which comprises of four licences in the highly prospective Kaoko Basin as well as 100% ownership of Kalahari Copper’s Botswanan Copper Project, which incorporates 17 highly prospective licences in the Kalahari Copper Belt and the Bushman Lineament.
Chief Executive Officer Robin Birchall comments: ‘The revised terms outline a deal which is a potential game-changer for Oscillate and which would be a major step forward in our strategy of building a leading mid-cap copper and future metals exploration and development company...We will now be working to rapidly conclude the binding agreements and ultimately complete this acquisition, subject to the satisfactory completion of all required transaction terms. As part of this deal it is also our intention to graduate to the AIM market to allow the company better access to capital going forward and to give shareholders access to better liquidity.’
Current share price: 0.40 pence, closed up 9.6% on London’s Aquis Exchange on Thursday, with a market cap of £1.7 million.
12-month change: down 68%
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