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Mining industry

Blue Gold Limited Acquires Mampon Gold & Copper Mining Lease in Ghana

Strategic Insights

— 2 min read

Blue Gold Limited has signed a definitive purchase agreement to acquire up to a 90% interest in the Mampon Gold & Copper Mining Lease in Ghana's Ashanti Gold Belt. This strategic acquisition expands Blue Gold's resource base and supports its gold-backed digital initiatives. The transaction follows the company's announcement in July 2025, and the signing of the agreement marks a significant milestone for Blue Gold.

Key Takeaways:

  • Blue Gold Limited will acquire up to 90% of a Ghanaian company that holds the Mampon mining lease through two tranches: a first tranche of 50% for $15 million, and a second tranche of up to 40% for up to $110 million.
  • The consideration for the first tranche will be paid in the form of 750,000 ordinary shares, which may be adjusted based on the Volume-Weighted Average Price (VWAP) over a 90-day period.
  • The second tranche is structured as an option exercisable by Blue Gold Limited between 12 and 18 months after the signing of the purchase agreement, allowing the company to acquire up to 90% of the licensing company for up to $110 million, capped at $55 per ounce of gold or $50 per ton of copper.
  • The Mampon mining lease has an estimated 260,000 ounces of Indicated gold resources, and Blue Gold Limited believes the site has significant upside for further exploration of both gold and copper.
  • The acquisition is part of Blue Gold Limited's broader acquisition strategy, aimed at expanding its resource base, unlocking high-potential exploration locations, and supporting its gold-backed digital initiatives.
  • The company intends to pursue additional acquisitions across Africa and beyond, with a focus on growing its resource base, expanding its presence in Ghana's Ashanti Belt, and unlocking high-potential exploration areas.

Statistics:

  • $15 million for the first tranche of the purchase agreement
  • 750,000 ordinary shares for the first tranche consideration
  • 90-day VWAP period for potential adjustment of first tranche consideration shares
  • Up to $110 million for the second tranche of the purchase agreement
  • 260,000 ounces of Indicated gold resources at the Mampon mining lease
  • 80 km distance between Mampon and Bogoso, where Blue Gold Limited operates a carbon-in-leach processing plant

Sources:

  • GlobeNewswire, "Blue Gold Limited Announces Acquisition of up to 90% Interest in Mampon Gold & Copper Mining Lease" (September 17, 2025)
  • Blue Gold Limited, "Shell Company Report on Form 20-F" (July 1, 2025)
  • Blue Gold Limited, "Annual Report on Form 20-F" (not explicitly dated in the original text)

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