ZIMBABWE —Canadian mineral exploration company Wildsky Resources has executed a binding letter of intent with Golden Cube Mining to acquire a 100% interest in the NewRidge Gold Project located in Manicaland Province, Zimbabwe. Under the terms of the agreement, Wildsky will undertake a 60-day due diligence process prior to entering a definitive contract. The total consideration comprises 3 million US dollars in aggregate cash payments and the issuance of 11 million common shares. The transaction also includes assuming exploration rights and options for three adjacent mining claims covering 300 hectares. Trading in Wildsky's shares on the TSX Venture Exchange has been halted pending regulatory submission and approval.
Wildsky Resources is a junior mineral exploration enterprise listed in Canada that focuses on identifying, acquiring, and developing precious metal deposits across emerging mining jurisdictions. Golden Cube Mining is a private Zimbabwean mineral resource company engaged in local concession acquisition and gold property exploration.
To concentrate technical and financial resources on the NewRidge property, Wildsky simultaneously terminated two earlier exploration agreements in Zimbabwe. The company ended a non-binding memorandum of understanding for two prospecting orders following license renewal delays by the counterparty, while also canceling a letter of intent to purchase a controlling interest in Phoenix Art. In connection with the cancellation, Phoenix Art has agreed to fully reimburse a 255,000 US dollar loan previously provided by Wildsky.
The agreement reflects continued activity by international junior exploration companies within Zimbabwe's greenstone belts. The NewRidge asset retains an active mining permit and existing environmental clearances, providing an established pathway toward operational testing and advanced exploration. For mining investors and regional industry participants, consolidating capital into a single fully owned concession lowers corporate dilution while streamlining technical deployment across Southern Africa's gold mining sector.
