Rns16 Jun 2026 07:17
At last
Conditional Sale of 2 Kalahari Copper Belt Licences for US$3 million
to Sandfire Resources Limited group
Galileo Resources plc ("Galileo" or the "Company") is pleased to announce that on 15 June 2026 it entered into a conditional share purchase agreement with Metal Capital Exploration Limited ("Metal Capital"), a wholly owned subsidiary of ASX-listed Sandfire Resources Limited (Sandfire), with Sandfire acting as purchaser guarantor.
The agreement relates to the conditional sale of its wholly owned subsidiary Virgo Business Solutions (Pty) Ltd ("Virgo"), which owns Botswana prospecting licences PL039/2018 and PL040/2018 (the, "Prospecting Licences") (the "Agreement").
The Agreement provides for an aggregate upfront consideration of US$3 million payable on completion, together with a potential one-off success payment of between US$20 million and up to US$80 million ("Success Payment"), subject to meeting nominated thresholds for contained copper in a First Qualifying Ore Reserve under the terms of the Agreement.