Aldoro Resources Limited entered into a binding Heads of Agreement to acquire Kameelburg Project from 85% interest in Kameelburg Project in Namibia from Logan Exploration and Investment CC and Okonde Mining and Exploration CC for NAD 4.4 million.

Aldoro Resources Limited (ASX:ARN) entered into a binding Heads of Agreement to acquire Kameelburg Project from 85% interest in Kameelburg Project in Namibia from Logan Exploration and Investment CC and Okonde Mining and Exploration CC for NAD 4.4 million on March 20, 2023. Under the consideration, Aldoro Resources will make an initial payment of NAD 0.5 million upon signing the agreement; a payment of NAD 2.5 million at completion; and 500,000 fully paid ordinary shares in the capital of Aldoro. The transaction is subject to completion of due diligence by Aldoro on the Project and the Permits to the satisfaction of Aldoro and confirmed in writing; the successful renewal of EPL 7373, which is currently undergoing renewal; the Parties obtaining any necessary shareholder, regulatory, governmental, or third-party consents and/or approvals (as applicable) in order to allow the Parties to complete their respective obligations under this Agreement; and the Permits remaining in good standing as at the date of satisfaction of the last Condition.