Koryx Copper
Primary ticker: TSXV:KRY, FRA:DSD. US:KRYXD
Stage of development: Development
Primary minerals: Copper
Project to promote: Haib Copper Project, Namibia
Project location: Africa
Website: www.koryxcopper.com
Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned, PEA-stage Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia.
Haib is a large and advanced copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. Mineralization at Haib is typical of a porphyry copper deposit and the deposit remains intact. Porphyry copper deposits are a major global source of copper with the best-known examples being concentrated around the Pacific Rim, North America and South America. Haib is one of the few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events, but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment.
More than 70,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Teck remains a strategic and supportive shareholder. In addition to extensive drilling, metallurgical testing, geophysics and geological mapping, various mine modeling and technical studies have been completed to date.
Further details are available on this website and under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Cash: CAD 16.5M
Debt: NIL
Major shareholders:
Management ownership – 10%
Financials
Management Profile
Heye Daun (BSc (Eng) (Mining), MBA) – President & CEO
Heye is a Namibian-born mining engineer with 30 years of experience in mining and finance. After 10 years in uranium and gold mining in Namibia and West Africa with Rio Tinto, AngloGold and Goldfields, Heye spent three years in mining project finance and fund management. Since 2009 he has become a mining entrepreneur with multiple successful exits. He was a co-founder (with Alan Friedman) and President of Auryx Gold Corp., which advanced the Otjikoto gold project in Namibia and in 2012 was sold to B2Gold Corp. for CS$180 million. He then led a turn-around and subsequent merger of Ecuador Gold & Copper Corp. with Odin Mining, a Ross Beaty company, to form Lumina Gold Corp. before founding Osino Resources Corp. with Alan Friedman in 2016 and recently closing the sale of Osino to Shanjin International Gold Co. Ltd (formerly Yintai Gold Co., Ltd.) for C$368m.
What is your rationale for taking part in 121 Mining Investment?
Awareness, strategic priorities for 2025
What recent news would you like to highlight to investors attending?
1. November 18, 2024 – Koryx Copper Appoints Heye Daun as President & CEO, Trevor Faber as COO
2.September 24, 2024 – Koryx Copper Appoints CFO and Technical Management Team, Accelerating the Advancement of the Haib Copper Project, Southern Namibia
3. September 10, 2024- Koryx Copper Announces Updated Mineral Resource for the Company’s Flagship Haib Copper Development Project in Namibia
4. September 04, 2024 – Koryx Copper Makes Board Changes and Announces Management Transition – Appoints Osino Founders Heye Daun and Alan Friedman
What do you think makes your company such a compelling investment?
1. Accomplished New Team Proven leadership & track record in capital markets, mining project advancement and M&A
2. World-class jurisdiction Namibia is stable, mining-friendly with excellent infrastructure & predictable permitting
3. Quality asset Haib Copper Project is low risk, low altitude (low cost), near-term and fast-tracking to development
4. Blue-chip financial backing Ross Beaty, Management, RCF, Mackenzie, Extract Capital, Teck Resources etc.
5. Significant growth potential Rebuilding credibility (conventional process route, higher grades, growing MRE)
6. Low valuation primed for re-rating
What are the top 3 key investor takeaways?
– Leadership team with track record in sector and Namibia, numerous successful exits
– Quality asset in excellent mining jurisdiction
– World renowned mining investors