Waraba’s Côte d’Ivoire gold deal comes with a licence condition
TENGRELA — Canadian-listed Waraba Gold has agreed to acquire an 80% stake in Leo Resources in Côte d’Ivoire for up to A$5 million, but the largest payment depends on extending its exploration licence beyond November 2027. The company also expects to need additional financing.
Expanding its exploration footprint
The agreement with a Desert Metals subsidiary covers a 212.66km² licence adjoining Waraba’s Tengrela project. It would bring access to records from 1,141 drill holes, giving the explorer targets for further investigation.
Historical results still require verification. They do not establish a commercially viable mine or a defined mineral resource.
Approval and funding remain outstanding
The purchase requires ministerial approval. Although no shares will be issued to the seller, Waraba expects to raise funding for part or all of the completion payment and subsequent obligations.
Up to A$2.3 million is conditional on licence renewal or extension, which is not guaranteed.
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