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[6-K] Blue Gold Ltd Current Report (Foreign Issuer)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K

Blue Gold Limited executed a sale agreement for the Mampon Gold Mine in Ghana and set share-issuance and commodity-payment mechanics tied to that transaction. The First Tranche Consideration Shares are 750,000 Ordinary Shares unless the 30-day VWAP is below $20 but not below $10, in which case Blue Gold will issue additional Ordinary Shares so that the aggregate value of those shares equals $15 million (calculated by reference to the VWAP). If the VWAP is below $10, the maximum First Tranche issuance is capped at 1,500,000 Ordinary Shares. The filing also records contingent commodity payments: up to $55 per ounce of gold (capped at 6 million ounces) and up to $50 per ton of copper (capped at 4 million tons). The Agreement for the Sale and Purchase of the Mampon Gold Mine is dated September 17, 2025, with an accompanying press release and an officer signature dated September 18, 2025.

Blue Gold Limited ha stipulato un accordo di vendita per la Miniera d'Oro Mampon in Ghana e ha previsto meccanismi di emissione di azioni e pagamento in commodities legati alla transazione. Le azioni della Prima Tranche di Contropartita sono 750.000 azioni ordinarie, salvo che il VWAP a 30 giorni sia inferiore a $20 ma non inferiore a $10, nel qual caso Blue Gold emetterà azioni ordinarie aggiuntive in modo che il valore complessivo di tali azioni sia pari a $15 milioni (calcolato in base al VWAP). Se il VWAP è inferiore a $10, la emissione massima della Prima Tranche è limitata a 1.500.000 azioni ordinarie. Il fascicolo riporta anche pagamenti in commodities contingenti: fino a $55 per oncia d'oro (con tetto di 6 milioni di onze) e fino a $50 per tonnellata di rame (con tetto di 4 milioni di tonnellate). L'Accordo di Vendita e Acquisto della Mampon Gold Mine è datato 17 settembre 2025, con un comunicato stampa associato e una firma di un dirigente datata 18 settembre 2025.

Blue Gold Limited ejecutó un acuerdo de venta para la Mina de Oro Mampon en Ghana y estableció mecanismos de emisión de acciones y pago en commodities vinculados a esa transacción. Las Acciones de la Primera Tranche de Contingencia son 750.000 Acciones Ordinarias, a menos que el VWAP de 30 días esté por debajo de $20 pero no por debajo de $10, en cuyo caso Blue Gold emitirá Acciones Ordinarias adicionales para que el valor agregado de esas acciones iguale $15 millones (calculado en base al VWAP). Si el VWAP está por debajo de $10, la emisión máxima de la Primera Tranche se limita a 1.500.000 Acciones Ordinarias. El expediente también registra pagos en commodities contingentes: hasta $55 por onza de oro (tope de 6 millones de onzas) y hasta $50 por tonelada de cobre (tope de 4 millones de toneladas). El Acuerdo de Venta y Compra de Mampon Gold Mine está fechado el 17 de septiembre de 2025, con un comunicado de prensa adjunto y una firma de un funcionario fechada el 18 de septiembre de 2025.

Blue Gold Limited는 가나의 Mampon 금광에 대한 판매 계약을 체결했고 그 거래에 연결된 주식 발행 메커니즘과 원자재 결제를 설정했습니다. 제1차 현금 대체 주식(First Tranche Consideration Shares)은 75만 주의 보통주이며, 30일 VWAP가 $20 미만이지만 $10 미만은 아니면 VWAP에 따라 추가 보통주를 발행하여 해당 주식의 총 가치가 $15백만이 되도록 합니다( VWAP 기준 계산). VWAP가 $10 미만인 경우 제1차 발행의 최대치는 150만 주로 제한됩니다. 제출 기록에는 조건부 원자재 지급도 포함됩니다: 금 1온스당 최대 $55(상한 600만 온스) 및 구리 톤당 최대 $50(상한 400만 톤). Mampon 금광의 매매 계약은 2025년 9월 17일로 날짜를 두고 있으며, 동 accompanying 보도자료와 2025년 9월 18일자로 서명한 임원 서명서가 첨부되어 있습니다.

Blue Gold Limited a conclu un accord de vente pour la mine d'or Mampon au Ghana et a établi des mécanismes d'émission d'actions et de paiement en matières premières liés à cette transaction. Les actions de la Première Tranche de Contrepartie sont de 750 000 actions ordinaires, sauf si le VWAP sur 30 jours est inférieur à 20 dollars mais pas en dessous de 10 dollars, auquel cas Blue Gold émettra des actions ordinaires supplémentaires afin que la valeur totale de ces actions soit égale à 15 millions de dollars (calculée sur la base du VWAP). Si le VWAP est inférieur à 10 dollars, l'émission maximale de la Première Tranche est plafonnée à 1 500 000 actions ordinaires. Le dossier enregistre également des paiements en matières premières contingents : jusqu'à 55 dollars par once d'or (plafond de 6 millions d'onces) et jusqu'à 50 dollars par tonne de cuivre (plafond de 4 millions de tonnes). L'accord de vente et d'achat de Mampon Gold Mine est daté du 17 septembre 2025, avec un communiqué de presse associé et une signature d'un dirigeant datée du 18 septembre 2025.

Blue Gold Limited hat eine Verkaufsvereinbarung für die Mampon Gold Mine in Ghana abgeschlossen und Mechanismen zur Aktienausgabe sowie Warenausgleichszahlungen an diese Transaktion gebunden festgelegt. Die First Tranche Consideration Shares betragen 750.000 Stammaktien, es sei denn der 30-Tage-VWAP liegt unter 20 USD, aber nicht unter 10 USD; in diesem Fall wird Blue Gold zusätzliche Stammaktien ausgeben, sodass der aggregierte Wert dieser Aktien 15 Millionen USD entspricht (berechnet anhand des VWAP). Falls der VWAP unter 10 USD liegt, ist die maximale Ausgabe der First Tranche auf 1.500.000 Stammaktien begrenzt. Die Akte verzeichnet außerdem bedingte Zahlungen in Rohstoffen: bis zu 55 USD pro Unze Gold (Begrenzung auf 6 Millionen Unzen) und bis zu 50 USD pro Tonne Kupfer (Begrenzung auf 4 Millionen Tonnen). Der Vertrag über den Verkauf und Kauf der Mampon Gold Mine ist datiert auf den 17. September 2025, mit einer beiliegenden Pressemitteilung und einer von einem Beamten unterzeichneten Unterschrift vom 18. September 2025.

نفذت شركة Blue Gold Limited اتفاق بيع لموقع Mampon Gold Mine في غانا وأقرت آليات إصدار الأسهم والدفع بالسلع المرتبطة بتلك الصفقة. الأسهم المخصصة للدفعة الأولى (First Tranche Consideration Shares) هي 750,000 سهماً عادياً، ما لم يكن VWAP لمدة 30 يوماً دون 20 دولاراً ولكنه ليس دون 10 دولارات؛ في هذه الحالة ستصدر Blue Gold أسهماً عادية إضافية بحيث يساوي مجموع قيمتها 15 مليون دولار (يُحسب بناءً على VWAP). إذا كان VWAP أدنى من 10 دولارات، فسيكون الحد الأقصى لإصدار الدفعة الأولى مقيداً بـ 1,500,000 سهم عادي. كما يسجل الملف دفعات مشروطة من السلع: حتى 55 دولاراً للأونصة من الذهب (حد أقصى 6 ملايين أونصة) وحتى 50 دولاراً لكل طن من النحاس (حد أقصى 4 ملايين طن). تاريخ اتفاق البيع والشراء لـ Mampon Gold Mine هو 17 سبتمبر 2025، مع بيان صحفي مرفق وتوقيع من مسؤول بتاريخ 18 سبتمبر 2025.

Blue Gold Limited 已就位于加纳的 Mampon 金矿签署了一份销售协议,并为该交易设定了与之相关的股权发行和大宗商品支付机制。 第一阶段对价股票为75万股普通股,除非30日 VWAP 低于 20 美元但不低于 10 美元,在这种情况下 Blue Gold 将发行额外的普通股,使这些股票的总价值等于 1500 万美元(以 VWAP 计算)。若 VWAP 低于 10 美元,第一阶段的发行最大数量限制为 1,500,000 股普通股。档案还记录了有条件的大宗商品支付:每盎司黄金最高 55 美元(上限 600 万盎司)及每吨铜最高 50 美元(上限 400 万吨)。Mampon 金矿的买卖协议日期为 2025 年 9 月 17 日,附有新闻稿及日期为 2025 年 9 月 18 日的高管签名。

Positive
  • Executed sale agreement for the Mampon Gold Mine dated September 17, 2025, indicating transaction progress
  • Clear VWAP-based mechanism to ensure the First Tranche Consideration equals $15 million in value if market price falls below $20
  • Explicit caps on commodity-contingent payments: $55/oz gold (capped at 6 million ounces) and $50/ton copper (capped at 4 million tons)
Negative
  • Potential dilution from issuance of up to 1,500,000 Ordinary Shares if VWAP falls below $10
  • Contingent payment obligations tied to commodity volumes could create future liabilities up to the stated caps
  • Filing lacks pro forma impact such as resulting share count or explicit cash consideration details

Insights

TL;DR: The filing documents a material asset sale with share-based consideration tied to VWAP and commodity-contingent payments, creating dilution and price risk.

The Agreement for the Mampon Gold Mine sale establishes a structured consideration package combining an initial equity tranche and commodity-contingent cash-like payments. The VWAP-based adjustment protects the purchaser by increasing shares if the market price is lower, while a hard cap at 1,500,000 shares limits maximum dilution. Separate caps on gold and copper payments (6 million ounces and 4 million tons) clarify maximum exposure to commodity payouts. These mechanics are typical for resource-sector deals to align buyer-seller interests while managing valuation uncertainty.

TL;DR: Transaction disclosures are specific on pricing mechanics and exhibit filings, enabling shareholder assessment of dilution and contingent obligations.

The report includes the executed sale agreement date, an attached press release, and a CEO signature, meeting basic disclosure formality. The VWAP-triggered share issuance and explicit caps on commodity-based payments are significant contractual terms that shareholders should note because they affect equity count and potential future cash flows. The filing does not provide pro forma share counts or detailed valuation sensitivities, which limits immediate assessment of shareholder impact.

Blue Gold Limited ha stipulato un accordo di vendita per la Miniera d'Oro Mampon in Ghana e ha previsto meccanismi di emissione di azioni e pagamento in commodities legati alla transazione. Le azioni della Prima Tranche di Contropartita sono 750.000 azioni ordinarie, salvo che il VWAP a 30 giorni sia inferiore a $20 ma non inferiore a $10, nel qual caso Blue Gold emetterà azioni ordinarie aggiuntive in modo che il valore complessivo di tali azioni sia pari a $15 milioni (calcolato in base al VWAP). Se il VWAP è inferiore a $10, la emissione massima della Prima Tranche è limitata a 1.500.000 azioni ordinarie. Il fascicolo riporta anche pagamenti in commodities contingenti: fino a $55 per oncia d'oro (con tetto di 6 milioni di onze) e fino a $50 per tonnellata di rame (con tetto di 4 milioni di tonnellate). L'Accordo di Vendita e Acquisto della Mampon Gold Mine è datato 17 settembre 2025, con un comunicato stampa associato e una firma di un dirigente datata 18 settembre 2025.

Blue Gold Limited ejecutó un acuerdo de venta para la Mina de Oro Mampon en Ghana y estableció mecanismos de emisión de acciones y pago en commodities vinculados a esa transacción. Las Acciones de la Primera Tranche de Contingencia son 750.000 Acciones Ordinarias, a menos que el VWAP de 30 días esté por debajo de $20 pero no por debajo de $10, en cuyo caso Blue Gold emitirá Acciones Ordinarias adicionales para que el valor agregado de esas acciones iguale $15 millones (calculado en base al VWAP). Si el VWAP está por debajo de $10, la emisión máxima de la Primera Tranche se limita a 1.500.000 Acciones Ordinarias. El expediente también registra pagos en commodities contingentes: hasta $55 por onza de oro (tope de 6 millones de onzas) y hasta $50 por tonelada de cobre (tope de 4 millones de toneladas). El Acuerdo de Venta y Compra de Mampon Gold Mine está fechado el 17 de septiembre de 2025, con un comunicado de prensa adjunto y una firma de un funcionario fechada el 18 de septiembre de 2025.

Blue Gold Limited는 가나의 Mampon 금광에 대한 판매 계약을 체결했고 그 거래에 연결된 주식 발행 메커니즘과 원자재 결제를 설정했습니다. 제1차 현금 대체 주식(First Tranche Consideration Shares)은 75만 주의 보통주이며, 30일 VWAP가 $20 미만이지만 $10 미만은 아니면 VWAP에 따라 추가 보통주를 발행하여 해당 주식의 총 가치가 $15백만이 되도록 합니다( VWAP 기준 계산). VWAP가 $10 미만인 경우 제1차 발행의 최대치는 150만 주로 제한됩니다. 제출 기록에는 조건부 원자재 지급도 포함됩니다: 금 1온스당 최대 $55(상한 600만 온스) 및 구리 톤당 최대 $50(상한 400만 톤). Mampon 금광의 매매 계약은 2025년 9월 17일로 날짜를 두고 있으며, 동 accompanying 보도자료와 2025년 9월 18일자로 서명한 임원 서명서가 첨부되어 있습니다.

Blue Gold Limited a conclu un accord de vente pour la mine d'or Mampon au Ghana et a établi des mécanismes d'émission d'actions et de paiement en matières premières liés à cette transaction. Les actions de la Première Tranche de Contrepartie sont de 750 000 actions ordinaires, sauf si le VWAP sur 30 jours est inférieur à 20 dollars mais pas en dessous de 10 dollars, auquel cas Blue Gold émettra des actions ordinaires supplémentaires afin que la valeur totale de ces actions soit égale à 15 millions de dollars (calculée sur la base du VWAP). Si le VWAP est inférieur à 10 dollars, l'émission maximale de la Première Tranche est plafonnée à 1 500 000 actions ordinaires. Le dossier enregistre également des paiements en matières premières contingents : jusqu'à 55 dollars par once d'or (plafond de 6 millions d'onces) et jusqu'à 50 dollars par tonne de cuivre (plafond de 4 millions de tonnes). L'accord de vente et d'achat de Mampon Gold Mine est daté du 17 septembre 2025, avec un communiqué de presse associé et une signature d'un dirigeant datée du 18 septembre 2025.

Blue Gold Limited hat eine Verkaufsvereinbarung für die Mampon Gold Mine in Ghana abgeschlossen und Mechanismen zur Aktienausgabe sowie Warenausgleichszahlungen an diese Transaktion gebunden festgelegt. Die First Tranche Consideration Shares betragen 750.000 Stammaktien, es sei denn der 30-Tage-VWAP liegt unter 20 USD, aber nicht unter 10 USD; in diesem Fall wird Blue Gold zusätzliche Stammaktien ausgeben, sodass der aggregierte Wert dieser Aktien 15 Millionen USD entspricht (berechnet anhand des VWAP). Falls der VWAP unter 10 USD liegt, ist die maximale Ausgabe der First Tranche auf 1.500.000 Stammaktien begrenzt. Die Akte verzeichnet außerdem bedingte Zahlungen in Rohstoffen: bis zu 55 USD pro Unze Gold (Begrenzung auf 6 Millionen Unzen) und bis zu 50 USD pro Tonne Kupfer (Begrenzung auf 4 Millionen Tonnen). Der Vertrag über den Verkauf und Kauf der Mampon Gold Mine ist datiert auf den 17. September 2025, mit einer beiliegenden Pressemitteilung und einer von einem Beamten unterzeichneten Unterschrift vom 18. September 2025.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2025

 

Commission File Number: 001-42717

 

Blue Gold Limited

(Registrant’s Name)

 

Mourant Governance Services (Cayman) Limited,

94 Solaris Avenue, Camana Bay

Grand Cayman, KY1-1108, Cayman Islands.

(Address of principal executive offices)

 

Andrew Cavaghan

Tel. No: +44 (0) 7487 799481

Email: info@bluegoldmine.com

94 Solaris Avenue, Camana Bay

Grand Cayman, KY1-1108, Cayman Islands

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F

 

 

 

 

 

Entry into a Material Agreement

 

On September 17, 2025, Blue Gold Limited (the “Company”) entered into a definitive Agreement for the Purchase of the Mampon Gold and Copper Mining Lease in Ghana (the “Purchase Agreement”) with FGR Bogoso Prestea Limited (“FGRBPL”) to acquire up to a 90% interest in the Mampon Gold and Copper Mining Lease located in Ghana’s Ashanti Gold Belt. The closing conditions include requirements to comply with Ghana regulation, including the transfer of a 10% ownership interest in the Licensing Company. All defined terms not defined herein shall have the meaning given to them in the Purchase Agreement.

 

FGRBPL will receive two payment tranches:

 

First Tranche: Subject to closing conditions, including the approval of the licensing assignment by all relevant parties, including the government of Ghana, being met, the Company will pay $15 million to FGRBPL for a 50% stake in the Licensing Company. The consideration will be paid by issuing 750,000 ordinary shares, par value $0.0001, of the Company (the “Ordinary Shares”), to FGRBPL. Following the expiry of ninety (90) consecutive trading days immediately after the First Tranche Completion, the number of First Tranche Consideration Shares shall be adjusted as follows:

 

if the VWAP Price over that period is less than $20.00 but not less than $10.00, Blue Gold will issue additional Ordinary Shares to the FGRBPL as is necessary to ensure that the aggregate value of the First Tranche Consideration Shares (calculated by reference to the VWAP Price) equals $15 million;

 

if the VWAP Price is equal to or greater than $20.00, no additional Ordinary Shares shall be issued and the First Tranche Consideration Shares shall be the 750,000 Ordinary Shares; and

 

if the VWAP Price is less than $10.00, the maximum number of First Tranche Consideration Shares to be issued shall be 1,500,000 Ordinary Shares.

 

Second Tranche: Structured as an option exercisable by the Company between 12 and 18 months following the date of the Purchase Agreement, whereby independently verified resource upgrades in accordance with the standards of Regulation S-K 1300 of the Securities Act of 1933, as amended, above the base resource will be paid for by the Company by issuing shares in accordance with the following value:

 

  Up to $55 per ounce of gold (capped at 6 million ounces);

 

  Up to $50 per ton of copper (capped at 4 million tons); and

 

if the option is exercised, FGR BPL will transfer the remaining 50% stake of Licensing Company to the Company.

 

Other Events

 

On September 17, 2025, the Company issued a press release announcing the Agreement. A copy of the press release is attached hereto as Exhibit 99.1

 

Financial Statements and Exhibits.

 

Exhibit No.   Description
10.1   Agreement for the Sale and Purchase of the Mampon Gold Mine in Ghana, dated September 17, 2025, by and among the Company and FGR Bogoso Prestea Limited.
     
99.1   Press Release, dated September 17, 2025.

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Blue Gold Limited
     
Date: September 18, 2025 By: /s/ Andrew Cavaghan
  Name:  Andrew Cavaghan
  Title: Chief Executive Officer

 

 

2

 

 

FAQ

What are the First Tranche Consideration Share terms in the BGLWW 6-K?

The first tranche is 750,000 Ordinary Shares unless the 30-day VWAP is below $20 but not below $10, in which case Blue Gold will issue additional shares so the aggregate value equals $15 million; if VWAP is below $10 the maximum issuance is 1,500,000 Ordinary Shares.

Does the filing specify commodity-based payments for the Mampon sale?

Yes. The filing cites payments of up to $55 per ounce of gold (capped at 6 million ounces) and up to $50 per ton of copper (capped at 4 million tons).

When was the sale agreement for the Mampon Gold Mine executed?

The Agreement for the Sale and Purchase of the Mampon Gold Mine is dated September 17, 2025 and is between the Company and FGR Bogoso Prestea Limited.

Is there an exhibit or press release attached to the filing?

Yes. Exhibit 99.1 is a press release dated September 17, 2025 referenced in the filing.

Who signed the 6-K on behalf of Blue Gold Limited?

The filing is signed by Andrew Cavaghan, Chief Executive Officer, dated September 18, 2025.
Blue Gold Limited

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