• Avesoro seeks to acquire Todi gold project from Zodiac Gold
• Deal includes cash, 10% royalty, and 30-day exclusivity period
• Todi’s proximity to Avesoro mines key to expansion strategy

Canada-based mining company Avesoro Resources has submitted a proposal to Zodiac Gold to acquire the Todi gold exploration project, which Zodiac wholly controls in Liberia. The move, announced on Tuesday, October 14, would allow Avesoro to expand its presence in the Liberian gold industry, where it already operates several mines.

Zodiac Gold Enters into Exclusivity Agreement with Avesoro Resources by @newsfile https://t.co/JvPRrx5UeC @LawrenceLepard @RonStoeferle

— Zodiac Gold (@ZodiacGold_) October 14, 2025

The negotiations center on the transfer of the three licenses covering the Todi project to Avesoro. In consideration, the deal includes a cash payment to Zodiac, plus a 10% royalty granting Zodiac rights to the profits of a potential future mine. Avesoro has paid Zodiac $200,000 as part of the talks to secure a 30-day exclusivity period during which the two parties will work toward finalizing a definitive agreement.

"During the exclusivity period, Zodiac Gold has agreed not to solicit, negotiate, or engage with any third party in connection with any acquisition, financing, joint venture, or similar transaction involving the Company or its subsidiaries," the statement said. "If the parties do not enter into a Definitive Agreement prior to the end of the Exclusivity Period (other than as a result of Avesoro choosing not to proceed with the proposed transaction), Zodiac Gold will repay the Exclusivity Payment."

Avesoro's interest in Todi is likely driven by the project's proximity to some of its existing operations. According to Zodiac, Todi is located 20 kilometers and 30 kilometers from Avesoro’s New Liberty and Ndablama mines, respectively. Proximity is a significant factor for mining companies seeking satellite deposits for existing assets or new sites to bolster production capacity.

However, Todi remains at the exploration stage, meaning significant further work is required to develop it into a mineable asset. Avesoro's current mines are among the few industrial gold operations active in Liberia, which also hosts Dugbe, a 71-ton gold deposit that Pasofino aims to restart development on after years of delays. The final outcome of the negotiations with Zodiac remains pending.

Aurel Sèdjro Houenou