AfriTin Mining said it had agreed to acquire Tantalum Investment from Jan Jonathan Serfontein for £850k.
Tantalum Investment owned two exploration licenses in Namibia for tin, tantalum and other associated minerals.
One of the licences was for the Brandberg West tin-tungsten mine, which was mined by SWACO until the 1980's.
The deal would be funded via the issue of 25m new AfriTin shares at 3.4p each.
At 2:28pm: (LON:ATM) Afritin Mining Limited Ord Npv share price was -0.05p at 3.45p