Tyranna Resources Sells Namibe Lithium Project for $1.44M, Shifts Focus to Chinguar Gold Exploration

4 min read | July 07, 2026 12:12 AM AEST | By Sonal Goyal

Tyranna Resources Sells Namibe Lithium Project for $1.44M, Shifts Focus to Chinguar Gold Exploration

Key Points

Company and ASX code: Tyranna Resources Limited (TYX)
Major transaction: Disposal of Namibe Lithium and Caesium Project
Important figures and dates: US$1.44 million sale, General Meeting scheduled for 7 August 2026
Investor focus: Shareholder approval and upcoming exploration activities at Chinguar Gold Project

Tyranna Resources Completes Sale of Namibe Project to Sinomine for $1.44 Million

Tyranna Resources Limited has signed a binding Share Purchase Agreement (SPA) with Sinomine Resource (Guangdong Hengqin) Supply Chain Co., Ltd to sell its 90% stake in AM (Mauritius) Limited, the holding company for the Namibe Lithium and Caesium Project in Angola. The transaction is valued at US$1.44 million, payable upon completion.

This divestment aligns with Tyranna’s strategic decision to prioritize other mineral prospects in Angola after four years of exploration that identified spodumene and pollucite mineralisation at Namibe.

Transaction Conditions and Timeline

The sale is contingent upon regulatory approvals from the People’s Republic of China and shareholder consent under ASX Listing Rule 11.2. Tyranna has scheduled a General Meeting on 7 August 2026 to obtain these necessary approvals.

The Long Stop Date for meeting these conditions is 15 August 2026. Failure to satisfy or waive conditions by this date will result in automatic termination of the SPA unless both parties agree to an extension.

Financial Terms and Tax Withholding Provisions

The agreed cash consideration stands at US$1.44 million. Sinomine may withhold up to US$72,000 to cover any potential Angolan or Mauritian withholding taxes. Tyranna’s subsidiary, Angolan Minerals, will bear 50% of these taxes, with any excess refunded upon proof of payment.

This arrangement highlights the complexities of cross-border transactions and the importance of addressing tax liabilities in advance.

Strategic Refocus on Chinguar Gold Project

Funds from the Namibe sale will be allocated to the Chinguar Gold Project, recently acquired by Tyranna. Located about 50km northeast of Huambo, Angola, the project spans 3,342 square kilometers.

Tyranna intends to launch a new geochemical exploration phase at Chinguar, including refurbishing and sampling existing prospects and conducting infill stream sediment sampling to detect additional mineral anomalies.

About Sinomine Resource Group

Sinomine Resource (Guangdong Hengqin) Supply Chain Co., Ltd is a subsidiary of Sinomine Resource Group, a global leader in supplying lithium, caesium, rubidium, and other rare metals. The group operates extensively across Africa, including in Namibia, Zimbabwe, and the Democratic Republic of Congo.

As a funding partner for the Namibe Project, Sinomine brings substantial technical expertise and financial strength to the acquisition.

Regulatory and Shareholder Approval Process

Obtaining regulatory and shareholder approvals is crucial to finalizing the transaction. The General Meeting on 7 August 2026 will be a decisive event where shareholders will vote on the sale resolutions.

Investors will closely monitor this meeting’s outcome as it will determine Tyranna’s ability to proceed with its strategic shift toward gold exploration.

Potential Effects on Tyranna’s Share Price

The immediate impact on Tyranna’s share price remains unclear from public data. Nevertheless, the divestment aligns with the company’s strategic objectives and may enhance shareholder value by concentrating on high-potential gold assets.

Market participants are expected to evaluate the transaction’s influence on Tyranna’s financial health and growth prospects in the near term.

Chinguar Gold Project Exploration Plans

Tyranna’s exploration team will initiate a comprehensive geochemical program at the Chinguar Gold Project. Key activities include refurbishing and sampling costeans at the Mina de Colemba Mn Prospect and conducting soil sampling with plans for drilling around the Consito Alto Prospect.

These initiatives aim to define new mineral resources and expand the project’s potential, positioning Tyranna for growth in the gold sector.

Outlook for Tyranna Resources

Following the Namibe Project sale, Tyranna Resources is set to focus on advancing the Chinguar Gold Project and pursuing additional acquisitions. This strategic pivot reflects the company’s dedication to leveraging its gold exploration expertise and capitalizing on Angola’s mineral wealth.

Investors will be attentive to Tyranna’s progress in exploration activities and achievement of key milestones over the coming quarters.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.