Avesoro Eyes Expansion with Todi Gold Project Acquisition in Liberia

Avesoro Resources has taken a significant strategic step toward consolidating its position in Liberia’s gold sector with a proposal to acquire the Todi Gold Project from Zodiac Gold Inc. Announced on 14 October 2025, the proposed transaction reflects Avesoro’s continued expansion strategy centered on proximity-based growth and resource optimization. If completed, the deal would transfer three exploration licenses from Zodiac to Avesoro, broadening the company’s operational footprint across one of West Africa’s most promising yet underexplored gold jurisdictions.

The acquisition framework includes a cash payment component as well as a 10% royalty on future mine profits payable to Zodiac, ensuring long-term upside participation for the seller. To secure exclusive negotiation rights, Avesoro has paid Zodiac a US$200,000 exclusivity fee, granting it a 30-day window during which Zodiac cannot engage with other potential buyers. Should the parties fail to finalize a definitive agreement within this period, the exclusivity payment will be refunded. This structure underlines Avesoro’s intent while maintaining financial discipline in the negotiation process.

The Todi project, still at an early exploration stage, lies in close proximity to Avesoro’s flagship New Liberty and Ndablama gold mines, two cornerstone assets that have helped establish the company as one of Liberia’s few industrial-scale gold producers. This geographic advantage provides significant operational and logistical synergies, potentially allowing shared infrastructure, reduced capital costs, and streamlined development timelines if Todi advances to production. The acquisition also aligns with Avesoro’s broader strategy of leveraging near-mine opportunities to incrementally expand resources and sustain long-term output growth.

While the project remains at a non-producing stage, Avesoro’s proven technical expertise and established local presence position it well to undertake systematic exploration, including geophysical surveys and drilling, once the acquisition is finalized. Beyond corporate growth, the transaction would strengthen Liberia’s mining industry by drawing further investment into the country’s gold belt, an area with considerable untapped potential but limited large-scale development to date.

If successfully concluded, the Todi acquisition could enhance Avesoro’s production pipeline, reinforce investor confidence in Liberia’s mining potential, and contribute to the country’s broader economic diversification efforts through employment creation and fiscal revenues. The coming weeks of negotiation will therefore be pivotal in determining whether this promising asset becomes Avesoro’s next growth catalyst in West Africa.

Mini-Glossary

• Exploration License: A government-issued permit granting rights to explore for minerals within a defined area before mining approval.
• Royalty on Future Mine Profits: A payment to the previous owner or the government based on a percentage of future net profits from mineral production.
• Exclusivity Period: A contractual timeframe during which one party has exclusive rights to negotiate, preventing discussions with competitors.
• Proximity-Based Growth: A strategy of expanding operations near existing assets to benefit from shared infrastructure and reduced development costs.
• Geophysical Surveys: Scientific studies that measure variations in the Earth’s physical properties (such as magnetism or conductivity) to locate mineral deposits.
• Near-Mine Opportunities: Exploration or acquisition targets located close to existing mining operations, offering strategic and economic advantages.