Tyranna Resources Limited (ASX: TYX) has entered into a binding agreement to sell its 90% interest in the Namibe Lithium and Caesium Project in Angola. The company’s subsidiary, Angolan Minerals Pty Ltd, signed a share purchase agreement to sell its stake in the project holding entity to Sinomine Resource (Guangdong Hengqin) Supply Chain Co., Ltd. The cash consideration for the transaction is US$1.44 million.

The deal remains subject to various customary conditions, including regulatory approvals in the People’s Republic of China and necessary shareholder approvals under ASX Listing Rules. Tyranna has scheduled a general meeting for 7 August 2026 to address these resolutions. Completion of the sale is expected within five business days once all conditions have been satisfied, with a long-stop date set for 15 August 2026.

Managing Director David Crook noted that the divestment aligns with the company's shifting priorities in the region:

"Following 4 years of exploration activities which included the discovery of spodumene and pollucite occurrences, the Company has decided to divest the Namibe Lithium and Caesium Project to focus on other opportunities in Angola."

"Sinomine has been our funding partner for much of this time and therefore one is the natural buyer of the Project."

Following the divestment, Tyranna is transitioning its primary operational focus toward the Chinguar Gold Project, located 50km northeast of Huambo. The company confirmed that the proceeds from the Namibe sale will be directed toward financing upcoming exploration activities at the gold project. Planned work at Chinguar includes geochemical sampling across several prospects, including the Mina de Colemba manganese prospect, along with soil sampling programs and future drilling initiatives to test identified gold anomalies.

Read the full announcement: Sale of the Namibe Lithium Project, Angola