Asara Expands Kada Gold Footprint to 301km² With Damissa Koura Permit Deal
Key Takeaways
- Asara Resources has agreed to acquire Arafura Ouest PTE Ltd, adding the Damissa Koura and Kankan West exploration permits in Guinea's Siguiri Basin for consideration of just SGD100 cash plus 5,000,000 Asara shares subject to 12-month escrow.
- The acquisition expands Asara's total landholding to approximately 301km² in northeast Guinea, a region the company describes as highly prospective and under-explored relative to known West African gold districts.
- The newly acquired permits are separate from the existing Kada Project Mineral Resource Estimate of 30.3Mt at 1.0g/t for 923,000oz gold — they add ground position, not defined ounces.
- Asara has already exercised its right to earn a 75% interest in the Kada Project by funding a Definitive Feasibility Study, and the new permits are intended to feed into that broader exploration programme.
- Settlement is scheduled on or around 7 September 2026, with the acquisition first flagged in an ASX announcement dated 9 December 2025.
Asara expands Kada Gold Project footprint with Damissa Koura permit acquisition
Asara Resources (ASX: AS1) has agreed to acquire Arafura Ouest PTE Ltd, which holds the Damissa Koura and Kankan West exploration permits in Guinea’s Siguiri Basin. The deal expands Asara’s total landholding to approximately ~301km² in a highly prospective region of northeast Guinea. Settlement is expected on or around 7 September 2026. For an exploration-stage company, more prospective ground means more targets to test — and at Kada, that translates into more shots at growing the Mineral Resource Estimate and underpinning a Definitive Feasibility Study.
When big ASX news breaks, our subscribers know first
Deal terms and consideration
Asara will acquire 100% of the issued capital in Arafura from the Vendors (Waleed KH S A A Esbaitah and Ropa Investments (Gibraltar) Limited). Arafura holds the Permits through its shareholding in Ara Exploration SARLU. The consideration structure includes:
- Cash consideration: SGD100 payable at settlement
- Consulting arrangement: Vendors appointed as consultants for 3 months to assist with Arafura/Ara Exploration affairs
- 5,000,000 fully paid ordinary Asara shares to be issued as consideration for consulting services, subject to a 12-month escrow period
- Settlement date: on or around 7 September 2026
The Acquisition was first flagged in the ASX announcement dated 9 December 2025.
Matthew Sharples, MD & CEO
“We are pleased to have completed our due diligence and to be progressing the acquisition towards settlement. The new permits are a natural complement to our existing portfolio, expanding our landholding across a highly prospective area and providing additional opportunities for exploration and future growth.”
Understanding the Siguiri Basin and why the landholding matters
The Siguiri Basin in northeast Guinea is one of West Africa’s established gold districts. Guinea remains one of the most under-explored countries in the region, which means prospective geology that has not been systematically drilled often sits adjacent to known deposits. Expanding contiguous landholding gives explorers more geology to test. For Asara, this increases the probability of new discoveries that can feed into resource growth. In exploration, ground position in a proven district is a core value driver. More prospective area equals more opportunities to drill, define, and potentially convert targets into ounces.
How this fits the Kada growth strategy
The acquisition positions Asara to pursue resource growth at Kada, where the current Mineral Resource Estimate stands at 30.3Mt @ 1.0g/t for 923Koz (reported 10 October 2023). This is the existing resource base — the newly acquired permits do not add defined ounces to the MRE. Most of the 150km² Kada project area remains under-explored, with considerable upside for additional oxide gold mineralisation. Asara owns 51% of the Kada project and has exercised its right to earn a further 24%, increasing its interest to 75% by funding the preparation of a Definitive Feasibility Study.
The company’s portfolio extends beyond Guinea. At the Loreto Copper Project in Chile, Asara has signed a US$17m Option and Joint Venture agreement with Teck Resources Chile Limitada (Teck can earn up to 75% interest in the project).
| Ore Type | Classification | Tonnes (Mt) | Grade (g/t Au) | Metal (Oz Au) |
|---|---|---|---|---|
| Oxide | Indicated + Inferred | 12.37 | 0.98 | 391,000 |
| Transition | Indicated + Inferred | 4.99 | 0.90 | 145,000 |
| Fresh | Indicated + Inferred | 12.94 | 0.93 | 387,000 |
| Total Kada Project | Indicated + Inferred | 30.3 | 0.95 | 923,000 |
Existing Kada Project Mineral Resource Estimate reported on a 100% equity basis, 10 October 2023. The newly acquired Damissa Koura and Kankan West permits are separate from this MRE and do not contribute defined ounces to the current resource base.
The next major ASX story will hit our subscribers first
What’s next for Asara investors
Settlement is scheduled on or around 7 September 2026. The newly acquired permits will be integrated into Asara’s broader exploration programme targeting resource growth toward a DFS at Kada. For further detail on the company’s exploration strategy, refer to the updated Corporate Presentation released to ASX on 31 August 2026. This is a low-cost strategic expansion of ground position in a proven gold district ahead of continued exploration.
Want the Next ASX Gold Discovery in Your Inbox?
Join 30,000+ investors getting FREE breaking ASX gold news delivered within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Discovery Alert to start receiving real-time alerts the moment market-moving announcements drop.