Great Quest Gold rebranded as Ongwe Minerals

A US$4.85 million takeover just flipped GREAT Quest Gold into Ongwe Minerals Incorporated, handing Lotus Gold’s assets over and tightening a new gold hunt across Namibia and Egypt.

Corporate shakeup and deal structure

• GREAT Quest Gold rebranded as Ongwe Minerals Incorporated.
• Ongwe snapped up Lotus Gold in a US$4.85 million deal.
• Dave Underwood said a court approved the arrangement plan.
• Lotus’ 21 million shares went for US$0.50 each.

Lotus Gold’s profile and shift

• Lotus Gold Corporation operated as a private Canadian explorer.
• Its focus sat on gold ground in the Egyptian Eastern Desert.
• A reverse takeover turned Lotus into Ongwe’s wholly owned unit.
• Egypt and Namibia assets will anchor the combined strategy.

Namibia projects and exploration push

• Ongwe Minerals Incorporated controls licences in the Damara Orogenic Belt.
• The Khorixas Gold Project sits inside that northern zone.
• Omatjete and Outjo projects round out the Namibian portfolio.
• Drill rigs are being mobilized toward fresh gold targets.

Founders and track record flex

• Carl Joone and Harmen Potgieter form the technical founders team.
• Osino Resources principals back Ongwe as major shareholders.
• Heye Daun led Osino Resources during the Twin Hills discovery.
• Shanjin Gold International bought Twin Hills for CA$368 million.

Ownership split after completion

• Former GREAT Quest Gold Ltd shareholders hold about 35.4%.
• Ex Lotus investors control roughly 64.6% of Ongwe shares.
• Share distribution shifted once the arrangement closed.
• Ongwe emerged positioned as a new Namibian gold explorer.