Koryx Copper Inc. is poised for significant growth as its new management, fresh off the successful sale of Osino Resources and its Twin Hills Gold Project in Namibia, takes the helm.
Koryx’s Executive Chairman, Heye Daun, emphasised the company’s strong leadership and vision as key drivers for advancing the Haib Copper Project in Namibia.
“After investing our own capital into Koryx earlier in 2024 and being appointed to the Board of Directors as Executive Chair and Lead Director earlier this month, we are fortunate to attract the skilled technical and executive management required to re-position Koryx as a successful Namibian copper developer with significant scale potential,” said Daun.
The newly appointed technical and management team brings extensive experience from Osino, where they were integral in the discovery and development of the Twin Hills project.
This same team consisting of CFO Tony da Silva, Head of Project Development Charles Creasy, Senior Metallurgical Study Consultant Steve Burks, and VP of Exploration Jon Andrew will now focus on Koryx’s Haib Copper Project and other copper assets in Zambia.
“The team’s track record and experience, particularly in Namibia, in advancing Osino’s Twin Hills Gold Project from discovery to construction is a great example of our vision for Koryx Copper. That vision is to demonstrate the technical and economic feasibility of the Haib Copper Project as the next great copper development asset in Africa,” added Daun.
In addition to announcing its new leadership, Koryx secured CAD$10 million (approximately N$127 million) through a non-brokered private placement.
The funds will be used to advance Koryx’s projects in Namibia and Zambia, as well as for general working capital. This offering, which will be fully subscribed, is pending approval by the TSX Venture Exchange (TSXV).
Daun outlined Koryx’s approach to achieving rapid project advancement stating, “we plan to achieve this by financing the company, building a competent management team, and then permitting and advancing the project to construction readiness in as short a timeframe as possible.”
Koryx Copper Inc. is a Canadian company focused on developing the 100%-owned Haib Copper Project in Namibia, a large, advanced porphyry copper/molybdenum deposit.
Haib, one of the few Paleoproterozoic porphyry copper deposits globally and one of two in southern Africa, has undergone extensive exploration since the 1970s, with over 70,000 meters drilled.
