Wia Gold has offloaded its non-core gold exploration permits in Côte d’Ivoire to Santa Fe Minerals to focus on the fast-growing Kokoseb gold project in Namibia.
The company announced that it has signed a binding share sale agreement with the ASX-listed Santa Fe, transferring its 80 per cent interest in the Dialakoro, Issia and Mankono Ouest permits, as well as several permits under application.
Under the agreement, Wia will receive 20 million ordinary shares in Santa Fe and 8 million performance rights, which will convert into shares once Santa Fe delineates mineral resources of at least 500,000 ounces and 1 million ounces, respectively, at grades exceeding 0.5 grams per tonne gold.
Executive chairman Josef El-Raghy said the deal strengthens Wia’s strategy.
“This divestment is a strategic step that allows Wia to focus on the rapid exploration and development of the Kokoseb gold project in Namibia while retaining exposure to future upside in Côte d’Ivoire through an ongoing shareholding in Santa Fe,” he said.
He added that the assets complement Santa Fe’s existing Côte d’Ivoire portfolio and position both companies to benefit from further exploration success.
The transaction involves the sale of Glomin Services Limited, Wia’s wholly owned subsidiary incorporated in Mauritius.
Glomin holds Wia’s 80 per cent interest in the Bocanda, Bouaflé, Mankono and Issia project areas through its ownership of other group companies.
Completion of the agreement is expected within three months, pending a Santa Fe capital raise of at least $6 million, shareholder approvals, and standard regulatory clearances.
Wia said it will recognise a non-cash impairment on the Côte d’Ivoire exploration assets in its December 2025 half-year accounts following the divestment.
Santa Fe Minerals, which has been expanding its exploration footprint in Côte d’Ivoire, already holds the Satama Gold Project, where drilling across a two-kilometre strike has produced encouraging results.
The company also controls a majority interest in the Bouake North application and holds six exploration licences in Western Australia over the Windimurra and Narndee intrusions.
By exiting Côte d’Ivoire but retaining equity exposure, Wia is consolidating its attention on Kokoseb, which is fast maturing into one of Namibia’s most promising gold discoveries.
The project hosts an updated Inferred Mineral Resource Estimate of 2.93 million ounces at one gram per tonne gold, including a higher-grade core of 2.07 million ounces at 1.4 grams per tonne, announced on 16 July 2025.
Kokoseb sits within the Okombahe licence area in the north-west of Namibia, part of Wia’s broader Damaran Project that covers more than 2,700 square kilometres across 12 tenements.
The licence is held in joint venture with state-owned Epangelo Mining and lies about 320 kilometres by road from Windhoek.
The divestment gives Wia a streamlined portfolio and the flexibility to channel capital, technical resources and exploration effort into Kokoseb’s subsequent phases of drilling, resource expansion and development studies.
At the same time, Santa Fe strengthens its project pipeline in Côte d’Ivoire.
