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Highlights

  • Blue Gold signed a non-binding term sheet to acquire 90% of the Mampon Gold-Copper Mine.
  • The proposed equity deal is valued at approximately USD 26.25 million at USD 35 per share.
  • Resource-linked earn-out includes up to USD 45 per gold ounce and USD 55 per copper ton.

Blue Gold Limited (NASDAQ: BGL) announced it has entered into a non-binding term sheet to acquire a 90 percent interest in the Mampon Gold-Copper Mine located in Ghana’s Ashanti Gold Belt. The proposed transaction includes an equity issuance valued at approximately USD 26.25 million, based on a per-share price of USD 35.

In addition to the equity component, the agreement incorporates a tiered resource-based earn-out structure. Blue Gold has proposed paying up to USD 45 per confirmed ounce of gold, capped at six million ounces, and up to USD 55 per confirmed ton of copper, capped at four million tons. The structure ties future compensation to verified resource development outcomes.

The Mampon Mine lies approximately 80 kilometers north of the company's existing Bogoso-Prestea Mine and its carbon-in-leach processing plant, a location which Blue Gold stated will allow for expedited integration and potentially lower capital expenditure. An independent technical review estimates that Mampon currently contains about 300,000 ounces of Measured & Indicated gold resources, with additional exploration potential cited.

Blue Gold described the acquisition as part of its broader strategy to expand within the Ashanti region by consolidating assets near its current infrastructure. The company also reiterated its longer-term goal of introducing a gold-backed digital wallet and its Blue Gold Token (BGT), positioning physical gold holdings as the basis for digital financial offerings.

The proposed transaction remains contingent on due diligence, completion of definitive agreements, and necessary regulatory approvals. There is no assurance that the deal will be finalized or completed under the current terms.