Galileo Resources plc (AIM: GLR) has confirmed that all conditions precedent have now been satisfied for the sale of two Kalahari Copper Belt licences to Metal Capital Exploration, a wholly owned subsidiary of Sandfire Resources.
The transaction, valued at US$3 million, was originally agreed on 15 June 2026, with Sandfire acting as purchaser guarantor.
With the remaining conditions now cleared, completion is expected on or around 30 September 2026.
The update removes the final contractual hurdle to the disposal and provides greater certainty that Galileo will receive the agreed consideration later this month, provided completion proceeds as scheduled.
“The Kalahari Copperbelt continues to attract new companies and investment, resulting in an evolving understanding of mineralisation across the region. We are very excited about our recent developments and the fact that we have encountered copper mineralisation over an extensive interval in our first reconnaissance drilling programme is very encouraging. The combination of position and prospectivity provides us with strong motivation to continue exploration on this licence.”
Colin Bird, Executive Chairman
Galileo Resources
