Arcadia Minerals Ltd has signed a binding farm-in agreement with Kaoko Metals Pty Ltd to accelerate the development of its Karibib Copper-Gold Project in Namibia.
The deal introduces a new strategic partner through a structured, four-stage earn-in arrangement that will deliver immediate cash value and long-term exposure to exploration upside.
Under the agreement, Kaoko Metals can earn up to 100 per cent of Arcadia’s 80 per cent interest in Karibib Pegmatite Exploration (Pty) Ltd (KPE).
This company holds an 85 per cent stake in the Karibib Copper-Gold Project via Goas Pegmatite Exploration (Pty) Ltd.
The staged earn-in includes a non-refundable A$35,000 deposit, an initial A$150,000 payment upon settlement, and a further A$250,000 payment one year later. Additional consideration includes up to 2.25 million Kaoko milestone shares and a Net Smelter Royalty (NSR) on future production.
The agreement is conditional upon Kaoko Metals’ successful listing on the ASX, where it plans to raise a minimum of A$5 million through an initial public offering.
Arcadia Executive Chairman Jurie Wessels said the partnership represented a significant step forward in unlocking value at Karibib.
“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,” Wessels said. “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.”
The Karibib Project, situated in Namibia’s central mining corridor, is prospective for both copper and gold mineralisation.
The transaction allows Arcadia to progress the asset during a period of strong commodity prices without drawing on its own balance sheet.
Kaoko Metals, a privately held exploration company headquartered in Perth, Australia, is led by managing director Gerard O’Donovan, who previously guided Sun Silver Ltd (ASX: SS1) through its successful IPO and subsequent growth at the Maverick Springs Silver-Gold Project in Nevada.
O’Donovan said Kaoko’s entry into Karibib strengthens its growing African copper-gold portfolio. “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,” he said. “Alongside our copper project in the Kaoko Belt, this forms part of a suite of assets with immense potential we plan to unlock.”
Arcadia said the transaction validates its strategy of partnering with aligned investors to advance projects while retaining systematic long-term exposure to value creation.
The structure ensures committed exploration spending, milestone-linked equity participation, and cash consideration, all without shareholder dilution.
Kaoko Metals’ forthcoming ASX listing and planned investment in Namibia are expected to accelerate on-ground exploration at Karibib, positioning the project for resource definition drilling in one of Africa’s most stable mining jurisdictions.
