Castle Minerals Secures Full Ownership of Mineralis, Expanding Côte d'Ivoire Gold Footprint
Castle Minerals Limited (ASX: CDT) has executed a strategic Share Purchase Agreement to acquire the remaining 10% of Mineralis Ltd, securing 100% ownership and exclusive rights to earn up to 90% interest across seven prospective gold assets shine permits in Côte d'Ivoire.
The transaction positions Castle to fully control 1,842 km² of prime gold exploration ground along the Côte d'Ivoire–Ghana border, significantly expanding its West African portfolio and creating a cohesive two-country exploration platform.
Strategic Gold Position in Proven Discovery Corridors
Castle's newly secured Côte d'Ivoire portfolio is strategically positioned in two of West Africa's most productive gold belts:
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Northern Permit Group (1,606 km²): Located just 25 km south of Endeavour Mining's impressive 4.6 Moz Tanda-Iguela (Assafou) discovery, highlighting the district's exceptional prospectivity
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Southern Permit Application (236 km²): Situated on the Bibiani–Chirano belt extension, approximately 50 km from the 3.5 Moz Chirano Mine, in a geological setting comparable to Turaco's 3.6 Moz Afema project
"By securing full ownership of Mineralis we have strengthened our commitment to exploration in Côte d'Ivoire, one of West Africa's most prospective gold regions. We are looking forward to commencing exploration on the ground as soon as the transaction settles," stated Executive Chairman Stephen Stone.
Financial Framework in Place for Aggressive Exploration
The transaction is backed by a recently announced $3.3 million placement, with Tranche 1 allotment of $1.716 million already completed. This provides immediate funding for Castle to advance Castle Minerals gold exploration in Côte d'Ivoire and across its Ghana assets.
Under the earn-in agreement, Mineralis holds the right to gain up to 90% participating interest in the permitted areas by funding exploration, development, and operating costs. The flexible structure allows Castle to prioritise the most promising targets without rigid timeline commitments.
Transaction Structure and Consideration
Castle will make the following consideration payments to African Ressources SARL (AFR) upon settlement:
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Issue of 583,333 fully paid ordinary shares and 1,000,000 unlisted options (exercisable at $0.12, expiring May 31, 2028)
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Performance rights tied to resource milestones:
- 625,000 performance rights upon delineation of an Inferred Resource of at least 500,000oz gold at >1.0g/t
- 1,041,667 performance rights upon delineation of an Inferred Resource of at least 1,000,000oz gold at >1.0g/t
Additional consideration of 583,333 shares and 1,000,000 options will be issued upon grant of at least four of the six permit applications.
Côte d'Ivoire: An Emerging Gold Investment Destination
Côte d'Ivoire represents one of Africa's most favourable mining jurisdictions, offering:
- Modern mining regulations
- Reliable infrastructure
- Skilled workforce
- Multiple Birimian greenstone belts that have delivered several multi-million-ounce discoveries
Despite its proven geological potential, much of the country remains underexplored, creating substantial opportunity for new discoveries through systematic Castle Minerals gold exploration in Côte d'Ivoire.
Understanding Earn-In Agreements: Key to Castle's Expansion Strategy
An earn-in agreement allows a company to gradually acquire interest in a project by funding exploration and development. For investors, this structure offers several advantages:
- Capital efficiency: The company can stage investments based on exploration results
- Risk management: Exploration can be halted if results don't meet expectations
- Flexibility: Resources can be allocated to the most promising areas across the portfolio
Castle's earn-in approach across the seven Côte d'Ivoire permits (totalling $6.08 million in staged expenditure commitments) exemplifies this strategy, allowing for systematic evaluation without requiring immediate full payment for the assets.
The Birimian Greenstone Belts: West Africa's Gold Engines
The Birimian greenstone belts represent some of the world's most productive gold-hosting geological structures. These ancient rock formations, approximately 2.1 billion years old, extend across several West African countries, including Ghana and Côte d'Ivoire.
What makes these belts so prospective for gold?
Birimian belts typically contain:
- Volcanic and sedimentary rocks that have undergone significant alteration
- Major structural features including faults and shear zones that serve as conduits for gold-bearing fluids
- Favourable host rocks that can trap mineralisation
The Birimian structures along the Côte d'Ivoire-Ghana border have proven particularly fertile, hosting numerous world-class gold deposits. Castle's strategic land position straddles these proven gold-bearing corridors, providing exceptional exploration potential as the company implements its Castle Minerals gold exploration in Côte d'Ivoire.
Upcoming Milestones and Timeline
Castle has outlined a clear path forward:
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Early October 2025: General meeting for shareholder approvals of placement shares, transaction securities, and incentive performance rights
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Early October 2025: Settlement of Tranche 2 Placement and Transaction Securities
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Early October 2025: Allotment and normal trading of Tranche 2 Placement and Transaction Securities
Following these corporate milestones, investors can expect a steady flow of exploration updates as Castle deploys its newly secured capital across both Côte d'Ivoire and Ghana assets.
Investment Thesis: Why Castle Deserves Attention
Castle Minerals offers investors exposure to multiple potential value drivers:
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Strategic Landholding: With 100% ownership of Mineralis, Castle controls a commanding position in two proven gold corridors
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Proximity to Major Discoveries: The northern permit group's location just 25km from Endeavour's 4.6 Moz discovery suggests significant exploration potential
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Two-Country Strategy: The Côte d'Ivoire assets complement Castle's existing Ghana portfolio, creating operational synergies and exploration continuity
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Financial Backing: The recently secured $3.3 million provides immediate funding for aggressive exploration
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Experienced Leadership: Recent board and management changes have strengthened Castle's West African execution capabilities
Why Investors Should Track Castle's Progress
Castle's strategic acquisition of the remaining 10% of Mineralis represents more than just an incremental increase in ownership—it streamlines the company's ability to execute a coherent, single-owner exploration plan across a significant gold exploration footprint in West Africa.
With multiple permit applications progressing, exploration programmes being planned, and a strengthened balance sheet, Castle is positioned to generate consistent news flow over the coming months. The company's dual-country approach provides both geographic diversity and increased gold intercepts transform discovery potential across proven gold-bearing geological structures.
For investors seeking exposure to early-stage gold exploration in one of Africa's most promising regions, Castle Minerals offers a compelling combination of land position, financial capacity, and strategic focus—all essential ingredients for successful Castle Minerals gold exploration in Côte d'Ivoire and broader West African success.
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