Oscillate Plc has paid a £500,000 (N$11.6 million) non-refundable deposit as part of its revised deal to acquire Kalahari Copper Limited, expanding the transaction to include Namibia’s copper-rich Kaoko Basin in addition to Botswana’s Kalahari Copper Belt.
The full consideration will involve Oscillate issuing shares equivalent to 30% of its capital, alongside milestone cash payments of £1.5 million (N$34.8 million) each, linked to key project stages, and an additional £2 million (N$46.4 million) payment once the company is uplisted to a senior stock exchange.
The updated deal, first signed in July 2025 and expanded in September, gives Oscillate a pathway to own 100% of Kalahari Copper’s Namibian portfolio.
This includes four exploration licences covering 1,106 km² in the Kaoko Basin, two of which are pending renewal. Kalahari Copper assembled these assets during 2023–2024, carrying out more than 8,000 metres of drilling that confirmed copper and silver mineralisation across multiple prospects.
Results from the 2024 campaign demonstrated promising intersections.
At the Omatapati prospect, drilling returned 1.2% copper over 20 metres between 80 and 100 metres depth, and 1.9% copper over 2 metres between 72 and 74 metres.
At the Ondera prospect, results included 1.4% copper over 1 metre between 45 and 46 metres.
Silver credits were also recorded, pointing to polymetallic potential.
Kalahari Copper’s Namibian licences are considered more advanced than its Botswanan ground, which spans 17 licences in the Kalahari Copper Belt and Bushman Lineament.
Together, the combined package makes Oscillate one of the largest copper landholders in southern Africa.
Oscillate CEO Robin Birchall described the revised deal as a significant step forward in building a mid-cap copper and future metals developer.
“What makes the Namibian assets especially exciting is that they are significantly further advanced, with development-grade copper already identified,” he said.
The transaction also includes a 1.9% net smelter royalty on future production from both Namibian and Botswanan projects, with Oscillate retaining a buyback option after the feasibility stage.
The Kaoko Basin is an underexplored region geologically linked to the Central African Copper Belt in Zambia and the DRC.
