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M&A / Property

Critical One Energy Acquires 18.5% Interest in Dark Star Minerals, Bolstering Support for Uranium Development in Namibia

By The Northwire Desk — AI Analysis Sep 02, 2025 · 11:15 BAT · 0.06 Batero Gold Corp.
BAT · Price

Executive Summary

  • Critical One Energy Inc. acquired an 18.5% equity interest in Dark Star Minerals Inc., expanding its exposure to uranium projects in Namibia.
  • The stake was received as part of the previously announced sale of Critical One’s Khan and Cobra uranium projects to Dark Star for US $3.5 million, consisting of 14 million Dark Star common shares, staged cash payments, a 2% gross overriding royalty on all metals produced, and an option for Dark Star to repurchase 0.5% of the royalty for US $1.5 million.
  • Duane Parnham, Critical One’s Founder, Executive Chairman & CEO, will also join the board of Dark Star, strengthening strategic collaboration between the two companies.

Key Details

  • Equity Position: 18.5% ownership in Dark Star Minerals Inc. (CSE: BATT; FSE: P0W).
  • Consideration Received:
  • 14 million Dark Star common shares transferred to Critical One.
  • Staged cash payments (amounts not disclosed) as part of the US $3.5 M total deal value.
  • A 2% gross overriding royalty on all metals produced from the Khan and Cobra uranium projects.
  • Option for Dark Star to repurchase 0.5% of the royalty for US $1.5 million.
  • Previous Transaction (Aug 7, 2025): Sale of Critical One’s Khan and Cobra uranium projects to Dark Star valued at US $3.5 M.
  • Project Highlights:
  • Khan West Project – high‑grade results up to 8.47% U₃O₈ (referenced from Feb 7, 2024 release).
  • Mining Licence 86A authorizes nuclear fuel extraction by the Namibian Ministry of Mines and Energy.
  • Strategic Rationale: Provides Critical One with a significant stake in Namibia’s Erongo uranium province—one of the world’s top uranium jurisdictions—and aligns with its mission to support clean‑energy mineral supply chains while maintaining focus on the Howells Lake Antimony‑Gold Project in Ontario, Canada.
  • Board Appointment: Duane Parnham will serve as a director of Dark Star Minerals Inc., facilitating coordination on project development and corporate strategy.

Notable Quotes

“We are excited to hold a significant stake in Dark Star and to support their efforts to advance the Khan and Cobra uranium projects… Our investment reflects our confidence in Dark Star’s ability to accelerate exploration and development, creating value for all stakeholders.” – Duane Parnham, Founder, Executive Chairman & CEO, Critical One Energy

“We look forward to collaborating with Dark Star to unlock the potential of these uranium projects while continuing to advance our antimony and gold exploration in Canada.” – Duane Pparnham (repeated)

Materiality Assessment: Material – Positive – The acquisition materially expands Critical One’s portfolio, provides a sizable equity position in a uranium‑focused company, includes royalty rights and board representation, and is likely to have a positive impact on the Company’s future valuation.

Read the original news release →

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