Lexington Gold Ltd
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Kroonstad tenure and Exploration Target
Part of Jelani joint venture and mining licence – Application accepted; statutory process under way
Shango was engaged on 8 July 2026 to move part of Kroonstad's non-code estimate towards a JORC Exploration Target. On 14 September 2026 the catalogued dataset was announced as expanded to 64 primary drillholes. On 14 October 2026 the DMPR renewal of two Prospecting Rights (about 26,275 ha, three years from 28 September 2026, deeds still to be signed) was announced, and 18.58m deferred shares were issued.
- Tenure renewed
- FS 889 PR (about 13,846 ha) and FS 10520 PR (about 12,429 ha), three years from 28 September 2026, subject to deeds of renewal 14 Oct 2026 ↗
- Next milestone
- JORC (2012) Exploration Target scheduled for Q4 2026 14 Oct 2026 ↗
- Dataset
- 64 primary drillholes and 73 deflections, from 12 and 3 previously 14 Oct 2026 ↗
- Deferred shares
- 18,580,646 shares at 6.20p, about £1.152m, 3.8% of enlarged capital; 12-month lock-up then 12-month orderly market 14 Oct 2026 ↗
- Share price gap
- 6.20p issue price against about 2.4p market price, a 158% premium as the company states 14 Oct 2026 ↗
- Remaining milestone
- 2% Klerksdorp renewal: 2,064,516 shares at 6.20p once renewed 14 Oct 2026 ↗
Next: Shango JORC (2012) Exploration Target for Kroonstad
- 14 Oct 2026 Tenure renewed; Exploration Target work under way
USA projects strategic options review
Includes Executive management restructure – New CEO in place; COO role created
Board signed a conditional agreement on 24 June 2026 to sell the 51% US project interests to GoldOz, with completion subject to GoldOz re-listing on the ASX. This announcement hands responsibility for progressing the disposal to Mark Greenwood, who becomes CEO. No new terms or dates given.
- Buyer
- GoldOz Ltd
- Business sold
- 100% of Global Asset Resources Ltd, holding 51% of Jennings-Pioneer, JKL and Carolina Belle
- Consideration
- Cash, GoldOz equity, potential milestone consideration and a net smelter royalty
- Conditions
- Completion subject to conditions including GoldOz's proposed ASX re-listing
- Rationale
- Focus management time and capital on South African Witwatersrand portfolio
- Owner of process
- New CEO Mark Greenwood leads progression of the disposal
Next: GoldOz ASX re-listing and completion of the sale
- 5 Oct 2026 Conditional agreement; new CEO to progress sale
- 23 Sep 2026 Conditional agreement; awaiting GoldOz re-listing
- 24 Jun 2026 Binding sale agreement signed, conditional on ASX re-listing
- 9 Apr 2026 Board assessing options; no decision yet
Executive management restructure
Part of USA projects strategic options review – Conditional agreement; new CEO to progress sale
On 5 October 2026 non-executive director Mark Greenwood became CEO, and Dr Bernard Olivier became COO while remaining an executive director. Greenwood covers corporate, capital markets, investor relations and business development. Olivier leads technical work on Kroonstad and Jelani JV and gains flexibility to pursue other business interests.
- New CEO
- Mark Greenwood, previously Non-Executive Director and significant long-term shareholder
- Background
- About 23 years in banking and stockbroking in Asia; former CEO of several businesses including in natural resources
- Olivier role
- Executive Director and COO, leading technical and operational development
- Reason
- Broaden executive capacity and formalise division of responsibilities
- 5 Oct 2026 New CEO in place; COO role created
Jelani joint venture and mining licence
Shango Solutions was engaged on 8 July 2026 to upgrade part of Kroonstad's non-code-compliant estimate towards a JORC Exploration Target. Catalogued drillholes rose from 12 to 64 primary holes, and Harmony has granted access to its core storage. The target work is planned for Q4 2026.
- Contractor
- Shango Solutions, engaged 8 July 2026
- Existing estimate
- Non-code-compliant 6.06-62.41 Moz at 4.96-11.54 g/t Au
- Dataset
- 64 primary drillholes and 73 deflections, versus 12 and 3 previously
- Next milestone
- JORC (2012) Exploration Target work planned for Q4 2026
Next: Complete 3D modelling and JORC (2012) Exploration Target work
- 23 Sep 2026 Application accepted; statutory process under way
- 22 Jun 2026 Application accepted 7 May 2026; processing under way
- 1 Jun 2026 Application accepted by DMPR; processing under way
- 9 Apr 2026 Application on track for Q2 2026; study delayed
Pol Sun legal claim against WRE
Next: Pol Sun to provide security for costs
- 22 Jun 2026 Proceedings stayed; company sees remote risk
Company filings. Not investment advice.