LE BRIEF

Côte d’Ivoire: Waraba Gold commits up to CFA 2 billion for an 80% stake in a Tengrela gold licence

LE BRIEF • 2026-10-28

A binding agreement provides for the acquisition of 80% of Leo Resources, holder of licence PR-683. The transaction, capped at A$5 million, remains subject to regulatory conditions and the licence’s future duration.

LE BRIEF — Wednesday, 28 October 2026 edition By the LE BRIEF newsroom Country : Côte d’Ivoire Event : Agreement announced on 26 October 2026 and reported on 27 October. Gold: supplied illustrative photograph. It does not identify licence PR-683 or Waraba Gold production. Canada’s Waraba Gold has entered a binding agreement with a subsidiary of Australia’s Desert Metals to acquire an 80% stake in Leo Resources. The company holds gold exploration licence PR-683 in northern Côte d’Ivoire. The transaction could reach A$5 million, approximately CFA 2 billion using the equivalence cited in the supplied dossier. The licence covers 212.66 square kilometres in the Boundiali, Kouto and M’Bengué departments. Consolidating a position around Tengrela The acquisition would strengthen Waraba’s presence near the Malian border. The area adjoins several properties already held or sought by the company. Subject to approvals, its properties and applications could form a combined area of approximately 1,000 square kilometres in the Boundiali geological belt. The licence benefits from a database of 1,141 drill holes totalling approximately 67,600 metres. This work has identified several mineralised zones requiring further evaluation. It does not, by itself, demonstrate commercially mineable reserves. A transfer that remains conditional Payment is staged, including an A$500,000 deposit and A$1.9 m...