Midas Minerals has successfully acquired the Otavi copper project in Namibia, following key conditions met in August and October. The project consists of ten licences covering 1,776 km² near Otavi. Drilling activities are underway with two diamond drill rigs on the T-13 deposit and plans for a second rig in early 2026.

The company plans to explore and expand resources at Otavi, starting with drilling at the Deblin deposit in early 2026. Midas also acquired the nearby South Otavi project, conducting 140 holes totaling 3,600m. Preliminary assay results are expected in January 2026, with ongoing soil sampling and mapping to define 2026 targets.

Midas reported A$15.3m ($10.11m) in cash in September 2025, enough to fund exploration at both Otavi and South Otavi into 2026. Managing director Mark Calderwood expressed excitement for the transformative project, highlighting the company’s well-funded drilling and exploration plans.

Read more at Yahoo Finance: Midas Minerals completes Otavi copper project acquisition in Namibia