Oscillate Plc expands its acquisition of Kalahari Copper Limited

Oscillate Plc has expanded its acquisition of Kalahari Copper Limited to include a portfolio of Namibian copper licences, positioning the company as one of the largest landholders in the Kaoko Basin.

The deal builds on the original agreement signed in July 2025, which initially covered Kalahari Copper’s Botswanan assets, and has now been revised to capture the Namibian projects as well.

Kalahari Copper Limited is a private exploration company with copper and silver assets in Namibia and Botswana. It holds 100% ownership of its licences, and in Namibia, its portfolio spans four licences covering 1,106 km² in the Kaoko Basin.

Two of these licences are awaiting renewal, but once granted, they will anchor Oscillate firmly in an underexplored copper frontier interpreted as the southern extension of the Central African Copper Belt. Kalahari built up these Namibian assets during 2023–2024 through licence applications and transfers, followed by over 8,000 metres of drilling.

In Botswana, it consolidated 17 licences in the Kalahari Copper Belt and Bushman Lineament across the same period, giving it one of the largest acreage packages in the region.

For comparison, fellow explorer Noronex controls about 2,100 km² in the Kalahari Copper Belt straddling Namibia and Botswana, and Koryx Copper’s Haib project covers just over 370 km² in southern Namibia. Oscillate’s footprint, therefore, places it in the upper tier of Namibian copper landholders.

Exploration already completed in Namibia has yielded encouraging results.

Kalahari Copper’s 2024 drilling included Omatapati and Ondera, where multiple intersections confirmed copper mineralisation from surface.

At Omatapati, hole OPR002 returned 1.2% Cu over 20 metres from 80 to 100 metres, while hole OPR001 cut 1.1% Cu over 4 metres from 52 to 56 metres, as well as a higher-grade 1.9% Cu over 2 metres from 72 to 74 metres.

At Ondera, hole ONR019 intercepted 1.4% Cu over 1 metre from 45 to 46 metres. Silver credits were also present, pointing to polymetallic potential.

These discoveries mean the Namibian ground is considered significantly more advanced than Kalahari Copper’s Botswanan licences.

Oscillate chief executive Robin Birchall called the revised deal a “major step forward” for the company’s strategy of 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.

Financially, Oscillate has already paid £500,000 as a non-refundable deposit to Kalahari Copper, with part of this allocated to ongoing work programmes and licence renewals in Namibia.

The full consideration for the acquisition will be mainly settled in Oscillate shares, equating to 30% of its issued capital, with milestone cash payments of £1.5 million each tied to publication of a maiden JORC resource, a pre-feasibility study, and a final investment decision on both the Namibian and Botswanan licences.

An additional cash payment of £2 million will also be triggered upon Oscillate’s graduation to a senior stock exchange.

A 1.9% net smelter royalty will apply to future copper production across both jurisdictions, with a buyback option after the feasibility stage.

Oscillate’s entry highlights the growing interest in the Kaoko Basin.

With mineralisation already confirmed and geological ties to some of the world’s largest sediment-hosted copper systems, the basin is fast emerging as a new frontier.

If developed, these assets would add copper and silver to Namibia’s established mix of uranium, zinc, and diamond production, linking the country more deeply into the global energy transition.