Oscillate PLC Expands African Copper Portfolio with Kalahari Acquisition

Strategic Expansion: Oscillate PLC's Acquisition of Kalahari Copper Limited

Oscillate PLC has strategically expanded its copper portfolio through the acquisition of Kalahari Copper Limited, positioning itself as a significant player in the African copper sector. What began as a focused acquisition of Botswanan assets in July 2025 has evolved into a comprehensive transaction that now includes valuable Namibian copper licenses, dramatically increasing the company's resource potential and regional footprint in southern Africa.

The expanded deal has transformed Oscillate into one of the largest landholders in Namibia's promising Kaoko Basin, complementing its already substantial presence in Botswana's Kalahari Copper Belt. This acquisition represents a calculated strategic move to capitalize on growing global demand for copper, particularly as the worldwide clean energy transition accelerates and intensifies.

What is the Kalahari Copper Acquisition Deal?

The Kalahari Copper acquisition represents a transformative transaction for Oscillate PLC, significantly expanding the company's copper exploration footprint across two stable African mining jurisdictions. Initially focused solely on Botswanan assets when announced in July 2025, the revised agreement now incorporates valuable Namibian copper licenses, substantially increasing the company's regional presence.

Kalahari Copper Limited, a private exploration company, has assembled an impressive portfolio of assets across both countries. In Namibia, the company holds four exploration licenses covering 1,106 km² in the Kaoko Basin, with two licenses currently awaiting renewal. In Botswana, Kalahari Copper consolidated 17 licenses in the Kalahari Copper Belt and Bushman Lineament, creating one of the largest exploration footprints in the region.

The Namibian properties are particularly valuable as they are significantly more advanced in their development cycle compared to the Botswanan licenses. Over 8,000 meters of drilling was completed across the Namibian licenses during 2023-2024, with multiple copper intersections already identified, providing Oscillate with a potential fast track to resource definition.

How Does the Expanded Deal Structure Work?

Financial Terms and Milestone Payments

The acquisition features a carefully structured payment mechanism designed to balance immediate commitment with performance-based incentives:

• Initial commitment: £500,000 non-refundable deposit (already paid by Oscillate), with part allocated to ongoing work programs and license renewals in Namibia

• Primary consideration: Equity issuance representing 30% of Oscillate's issued capital in shares

• Development milestones: Three separate £1.5 million cash payments triggered by:

  • Publication of a maiden JORC-compliant resource
  • Completion of pre-feasibility studies
  • Final investment decision across both jurisdictions

• Exchange listing bonus: Additional £2 million upon Oscillate's graduation to a senior stock exchange

The deal also includes a 1.9% net smelter royalty on future copper production from all properties, with Oscillate retaining a buyback option after feasibility studies are completed.

Strategic Asset Portfolio

The expanded acquisition encompasses a substantial land package across two countries:

This balanced portfolio gives Oscillate exposure to both advanced exploration targets with near-term resource potential in Namibia and early-stage but extensive exploration upside in Botswana.

What Makes the Namibian Copper Assets Valuable?

Promising Exploration Results

The Namibian properties have already demonstrated significant copper potential through recent drilling campaigns conducted during 2023-2024. Key intercepts include:

Omatapati Project Results:

• Hole OPR002: 1.2% copper over 20 meters (80-100m depth)
• Hole OPR001: 1.1% copper over 4 meters (52-56m depth)
• Higher-grade zone: 1.9% copper over 2 meters (hole OPR001, 72-74m depth)

Ondera Project Results:

• Hole ONR019: 1.4% copper over 1 meter (45-46m depth)
• Associated silver credits indicating polymetallic potential

These initial results are particularly encouraging as they confirm copper mineralization from surface and at relatively shallow depths, suggesting potential for open-pit mining scenarios if further drill results interpretation continues to yield similar findings.

Strategic Geological Position

The Kaoko Basin represents a highly prospective copper frontier that geological experts interpret as the southern extension of the renowned Central African Copper Belt, which hosts some of the world's largest and highest-grade sediment-hosted copper systems across Zambia and the Democratic Republic of Congo.

This geological connection significantly enhances the exploration potential of the Namibian licenses and provides Oscillate with exposure to a relatively underexplored region with proven copper mineralization. The basin is fast emerging as a new copper frontier in southern Africa, with several companies now actively exploring the area.

How Does This Compare to Regional Copper Exploration?

Competitive Landscape Analysis

Oscillate's expanded landholding positions the company as a significant player in southern Africa's copper exploration sector. For context:

This comparison demonstrates Oscillate's substantial footprint in the region, particularly when combining both the Namibian and Botswanan license packages. The acquisition places Oscillate in the upper tier of Namibian copper landholders, with exposure to multiple geological environments and exploration targets.

While Noronex maintains a larger overall footprint, Oscillate's combined Namibian and Botswanan holdings make it a major player in the region. Furthermore, the advanced nature of Oscillate's Namibian assets, with confirmed copper mineralization, potentially gives the company an advantage in terms of near-term resource definition.

Why is This Acquisition Strategically Important?

Copper Market Fundamentals

The acquisition aligns perfectly with strengthening copper market fundamentals driven by several key factors:

1. Energy Transition Demand: The global shift toward renewable energy, electric vehicles, and grid modernization is driving unprecedented copper demand. Electric vehicles require up to four times more copper than conventional vehicles, while renewable energy systems like wind and solar need significantly more copper per megawatt than traditional power generation.

2. Supply Constraints: The copper industry faces significant supply challenges, including declining ore grades at existing mines, limited new major discoveries, and lengthening development timelines for new projects due to regulatory, environmental, and social hurdles.

3. Regional Diversification: The growing importance of stable mining jurisdictions like Namibia and Botswana in global copper supply forecast cannot be overstated. As geopolitical tensions and resource nationalism rise in traditional copper producing regions, mining companies and investors are increasingly focusing on politically stable countries with established mining codes.

Corporate Growth Strategy

For Oscillate, the expanded acquisition represents a cornerstone of its strategy to build a mid-cap copper and future metals development company. CEO Robin Birchall described the deal as a "major step forward," highlighting the advanced nature of the Namibian assets as particularly valuable given the development-grade copper already identified.

The transaction provides Oscillate with several strategic advantages:

• Geographic diversification across two stable mining jurisdictions
• A balanced portfolio of early-stage and more advanced exploration assets
• Multiple potential development pathways
• Exposure to both the Kalahari Copper Belt and Kaoko Basin geological provinces

This diversified approach reduces project risk while maintaining significant exploration upside, creating a robust platform for future growth.

What Are the Potential Development Pathways?

Near-Term Exploration Focus

Based on the existing exploration results, Oscillate will likely prioritize several key activities:

1. Resource Definition: Expanding drilling at the Omatapati and Ondera projects in Namibia to establish initial JORC-compliant resource estimates. This would trigger the first milestone payment and represent a significant value inflection point for the company.

2. Target Generation: Utilizing advanced geophysical techniques to identify additional copper targets across both portfolios. This could include airborne electromagnetic surveys, which have proven effective in identifying sediment-hosted copper deposits in similar geological settings.

3. Metallurgical Testing: Evaluating processing options for the identified mineralization styles to determine the most efficient extraction methods. This early-stage metallurgical work is critical for informing future development decisions.

The company could potentially fast-track development at the more advanced Namibian properties while conducting more systematic mineral exploration across its extensive Botswanan holdings.

Longer-Term Development Potential

If exploration continues to yield positive results, potential development scenarios could include:

• Staged Development: Beginning with smaller-scale operations at the more advanced Namibian properties before expanding to larger projects. This approach would allow for early cash flow generation while continuing to define the full resource potential.

• Regional Processing Hub: Establishing centralized processing facilities to handle ore from multiple deposits across the company's portfolio. This would optimize capital efficiency and potentially improve project economics.

• Strategic Partnerships: Pursuing joint ventures or partnerships with major mining companies active in the region. Such partnerships could accelerate development timelines and reduce capital requirements.

The company's milestone payment structure suggests a clear pathway from resource definition through pre-feasibility to a final investment decision, with each stage representing a significant value creation opportunity.

What Are the Implications for Namibia's Mining Sector?

Economic Diversification

Successful development of copper resources would contribute significantly to Namibia's economic diversification efforts, adding copper and silver to the country's established mix of uranium, zinc, and diamond production.

Mining already accounts for approximately 10-15% of Namibia's GDP and remains a critical sector for employment and export revenue. The development of new copper mines would further strengthen this important economic pillar while reducing the country's reliance on any single commodity.

Energy Transition Positioning

The development of new copper mines would strategically strengthen Namibia's position in global energy transition supply chains, complementing the country's existing role in uranium production and emerging green hydrogen initiatives.

As global decarbonization efforts accelerate, countries with key energy transition minerals like copper will gain increasing geopolitical and economic influence. Namibia is well-positioned to capitalize on this trend given its stable political environment, established mining industry, and growing resource potential.

Regional Development

Mining development in the relatively underexplored northern regions of Namibia could stimulate significant regional economic development through infrastructure improvements, job creation, and local business opportunities.

The Kaoko Basin region, where the Namibian licenses are located, is less developed than the country's more established mining areas. New mining projects could catalyze broader economic development, including road and power infrastructure that would benefit local communities beyond just the mining sector.

Conclusion: Strategic Significance of the Expanded Acquisition

The expanded acquisition of Kalahari Copper Limited represents a transformative transaction for Oscillate PLC, significantly enhancing its copper exploration portfolio across two stable and mining-friendly African jurisdictions.

The addition of the Namibian licenses, with their demonstrated copper mineralization and advanced exploration status, provides a potential fast track to resource definition while maintaining the longer-term exploration upside of the extensive Botswanan holdings.

For investors and industry observers, this transaction highlights the growing interest in copper exploration across southern Africa as companies position themselves to meet anticipated future demand growth driven by the global energy transition. As one of the largest landholders in both the Kaoko Basin and Kalahari Copper Belt, Oscillate is now well-positioned to capitalize on the strong fundamental outlook for copper price prediction.

The structured milestone payment approach also demonstrates a thoughtful balance between immediate acquisition needs and performance-based compensation, aligning the interests of both Oscillate and Kalahari Copper Limited around successful project advancement.

Further Exploration

Those interested in learning more about copper exploration in southern Africa can explore additional educational content on regional geology, copper market dynamics, and the growing role of African copper in global supply chains. The African Mining Market website offers comprehensive coverage of mining developments across the continent, providing context for this significant acquisition.

The coming months will likely bring additional news as Oscillate advances exploration at its newly acquired properties, potentially leading to resource estimates and preliminary economic assessments that will further clarify the value of this strategic acquisition. Meanwhile, industry observers are also watching closely to see how copper tariff impacts might affect the overall market dynamics for projects like those in the Oscillate portfolio.

Looking to Invest in the Next Major Copper Discovery?

Discover how significant ASX mining discoveries can lead to substantial returns by exploring Discovery Alert's dedicated discoveries page, where our proprietary Discovery IQ model provides real-time alerts on high-potential mineral announcements. Begin your 30-day free trial at https://discoveryalert.com.au/discoveries/ today to position yourself ahead of the market.