Perth-based explorer Kaoko Metals has launched an initial public offering (IPO) to raise between N$90.8 million and N$107.3 million (US$5.5 million to US$6.5 million) ahead of a proposed listing on the Australian Securities Exchange.
The company plans to list under the ticker KAO, with shares priced at US$0.20 each.
Kaoko’s flagship Chalkos Project is located in north-western Namibia within the emerging Kaoko Copper Belt, a region known for sediment-hosted copper-silver mineralisation and considered geologically comparable to the Kalahari Copper Belt and the Central African Copperbelt.
Early exploration work has returned high-grade surface samples, including results of up to 69.6% copper and 2,030 grams per tonne of silver. Metallurgical tests from the Otniel Prospect also recorded copper recoveries of up to 89%, indicating potential viability for future processing.
“Our flagship Chalkos Project sits within the Kaoko Copper Belt in north-western Namibia, a geological setting with similarities to the Kalahari and Central African copper belts, which host some of the world’s most significant sediment-hosted copper deposits,” said Gerard O’Donovan, Managing Director of Kaoko Metals.
The IPO, comprising 27.5 million to 32.5 million shares, is scheduled to close on 24 March 2026, subject to early closure. Funds raised will support exploration at the Chalkos and Karibib projects, as well as working capital requirements and IPO costs. The company is targeting admission to the ASX in April 2026, subject to regulatory approvals.
Kaoko’s Chalkos Copper-Silver Project, which is 100% owned, is situated within the underexplored Kaoko Copper Belt and is fully permitted for exploration and drilling.
The company is also advancing the Karibib Copper-Gold-Tungsten Project, where it holds an 85% earn-in interest. The project lies within the Karibib Gold Belt and has historic drilling intercepts, supported by established infrastructure in the area.
