Newfoundland Discovery agrees to acquire Orenoxe, gaining earn-in rights to Angola Ganda gold-rare earth project
Reuters2026/08/10 23:10- Newfoundland Discovery will acquire Orenoxe Holdings, securing staged earn-in rights to up to 70% of GOLDANGO, with an option to reach 90%.
- GOLDANGO holds the 786 sq km Ganda gold–rare earth concession in Angola’s Benguela Province, with an exploitation-licence conversion application filed.
- Consideration includes USD 220,000 cash, USD 140,000 in kwanza fees, up to USD 450,000 deferred, 9,900,000 shares at $0.12.
- An additional 9,100,000 shares vest only after USD 1 million in qualifying exploration spend within 24 months.
- Stage 1 work targets USD 1 million over 15 months to earn 51%, rising to 70% at USD 2 million; closing awaits CSE sign-off.
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