Koryx mulling listing on NSX

Koryx Copper Inc, the Canadian copper development company focused on advancing the 100% owned Haib Copper Project in the south of the country and copper exploration licenses in Zambia is fast tracking the development of the Haib Copper Project. Observer Money asked Heye Daun, CEO and President of Koryx to provide an update on the company’s projects. 

Observer Money (OM): How much is Koryx Copper spending on the Haib Copper exploration project in 2025?

Heye Daun (HD): This 2025 technical strategy comprises an intensive drill and study program, including more than 55 000 meters of growth and quality improvement drilling, aiming to increase the size and grade of the Haib Mineral Resource Estimate (MRE) as well as multiple technical, environmental and metallurgical studies. This programme will result in an updated Preliminary Economic Assessment (PEA) and Pre-Feasibility Study (PFS) for Haib, both to be published before the end of 2025. The company plans on spending Canadian dollars 20 million on the large-scale technical program.

OM: What are the estimated reserves of copper estimates at Haib?

HD: In September 2024, we announced an updated and improved mineral resource for Haib. There were indicated mineral resource of 414 million tonnes at 0.35% copper for 3,216 million pounds of copper at 0.25% cut-off. In addition, inferred mineral resource of 345 million tonnes at 0.33% copper for 2,503 million pounds at 0.25% cut off.  Sensitivities at 0.3% copper cut off and 0.5 revenue factor of 116 million tonnes at 0.41% copper for 1,058 million pounds of copper. 

OM: Do you plan to raise money on the Namibian market?

HD: We are looking at funding opportunities with a Namibian listing in 2025 

OM: When is Koryx planning to turn Haib into Namibia’s next major mine development? 

HD: Koryx is fast tracking the development of its flagship, Haib Copper Project in southern Namibia. 

Upcoming catalysts include phase II drill results (8,200 meters) by end of first quarter of 2025, phase II metallurgical test results by end of the second quarter of 2025, phase III drill results (19 000 meters) by the end of second quarter of 2025, updated PEA announced by the end third quarter of 2025, application for mining license to be submitted by end of the third quarter of 2025, prefeasibility study to be announced by the end of 2025, feasibility study to be announced by end 2026 and mining license approval by Namibia Ministry of Mines by end 2026 

OM: Anything else to add?

HD: Koryx Copper is building the new Namibian copper champion, by fast-tracking and advancing its 100% owned Haib Copper project.  Under my leadership and new management with technical and operational expertise, Koryx is primed for success. We have an accomplished new team with proven leadership and track record in capital markets and mining project advancement. Namibia is a world-class jurisdiction, stable, mining-friendly with excellent infrastructure and predictable permitting. The Haib copper project is low risk, low altitude, low cost, near-term and fast-tracking to development