Highlights
- Revised acquisition terms will see Oscillate acquire Kalahari Copper Limited’s Namibian copper portfolio, as well as the Botswanan copper portfolio as previously announced
- Oscillate to become one of the largest acreage holders in the Kaoko Basin in Namibia, which is the interpreted extension of the Central African Copper Belt
- Recent drilling campaigns in Namibia have confirmed multiple prospect finds with intersects of high-grade copper and silver mineralisation and a plethora of other exciting copper exploration opportunities
OSCILLATE PLC, which is focused on building a mid-cap copper and future metals developer, has announced that it has agreed revised terms for the acquisition deal with Kalahari Copper announced in July 2025. The Company has now entered into a new, non-binding Heads of Terms agreement to acquire the entire issued share capital of Kalahari Copper.
The updated terms, once met, will give Oscillate a pathway to obtain 100% ownership of Kalahari Copper’s Namibian Copper Project, which comprises of four licences (of which two licences are in the process of being renewed) in the highly prospective Kaoko Basin, an emerging copper belt in Africa, as well as a pathway to obtain 100% ownership of Kalahari Copper’s Botswanan Copper Project, which incorporates 17 highly prospective licences (which have been granted or which have been applied to be transferred to Kalahari Copper) in the Kalahari Copper Belt and the Bushman Lineament.
Oscillate CEO, Robin Birchall, commented: "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. 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 the Namibian and Botswanan licence areas. What makes the Namibian assets especially exciting is that they are significantly further advanced than those in Botswana, with development grade copper identified across multiple prospects further to the recent drilling programmes in 2024.
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.”
About the Namibian Copper Project
The proposed acquisition of Kalahari Copper and its Namibian Copper Project would give Oscillate a 100%-ownership of four highly prospective copper and silver exploration tenements, assuming that the applications for two licences are renewed. Completion of the acquisition of the four licences would cover 1,106km2 , establishing Oscillate as one of the largest acreage holders in the Kaoko Basin.
Figure 1: Location of the Kalahari Copper exploration licences in Namibia.
This emerging copper region is the interpreted extension of the Central African Copper Belt that runs through Zambia and the Democratic Republic of Congo and is home to a significant number of major and high-grade producing copper mines. The Kaoko Basin and the Central African Copper Belt have important geological similarities and stratigraphic correlations, with both basins expected to host significant stratabound (sediment-hosted) copper and silver deposits.
Kalahari Copper has completed more than 8,000 metres of drilling over a series of campaigns to date, with multiple intersections demonstrating copper (“Cu”) mineralisation on multiple prospects, occurring from surface. The table below summarises a few such intersections from the 2024 campaign.
|
EPL number |
Hole number |
Prospect name |
From (m) |
To (m) |
Cu% |
|
7081* |
OPR002 |
Omatapati |
80 |
100 |
1.2 |
|
7081* |
OPR001 |
Omatapati |
52 |
56 |
1.1 |
|
7081* |
OPR001 |
Omatapati |
72 |
74 |
1.9 |
|
7082 |
ONR019 |
Ondera |
45 |
46 |
1.4 |
*Licence is in the process of being renewed and is subject to approval
About the Botswana Copper Project
As previously announced, the acquisition will also give Oscillate the opportunity for 100%-ownership of highly prospective copper and silver exploration tenements and one of the largest tenement packages in the KCB, assuming that all applications are transferred.
The KCB is considered to be one of the world’s most prospective areas for new sediment-hosted copper discoveries by the US Geological Survey. It cemented its position as an emerging major copper producing district in 2023 further to the acquisition of the Khoemacau Copper Mine and exploration assets by MMG Ltd (MMG) for US$1.9 billion. Sandfire Resources has also established producing operations, with the Motheo mine commencing production in record time.
The KCB licences consist of three highly strategic project areas along strike, and adjacent to, operating mines and development assets owned by major copper producers, positioning Oscillate as a significant player in the region with high-potential exploration assets.
Figure 2: Location of the Kalahari Copper exploration licences in the KCB.
Within the KCB licences, the Company will target unexplored basin margins and strike extension of known deposits with what the Company believes to be ideal geological positions for sedimentary copper. The PL85 licence, which is located in the Bushman Lineament and not shown in the map above, is also adjacent to the previously producing Kopano copper mine in this region.
As part of the Company’s due diligence process, Oscillate will be carrying out its own exploration work to establish the mineralised contact for this prospect, which is adjacent to MMG’s Khoemacau producing copper mine.