Kaoko debuts on ASX following strongly supported A$6.5m IPO
Copper exploration and development company Kaoko Metals has announced its official listing on the ASX, with its shares scheduled to start trading on May 7.
Kaoko explains that the listing follows the completion of a strongly supported and oversubscribed A$6.5-million initial public offering (IPO), providing a robust funding platform to aggressively advance exploration across its Namibian copper portfolio.
The company notes that it has assembled a strategic ground position across two emerging, yet highly endowed, mineral belts – the Chalkos copper/silver project on the Kaoko Copper Belt and the Karibib copper/gold/tungsten project on the Damara Belt – targeting large-scale copper discoveries in jurisdictions with a strong mining history and supportive regulatory framework.
The company explains that high-grade copper potential has been demonstrated at Chalkos, including strong surface grades of up to 69.6% copper and 2 030 g/t silver, supporting discovery potential.
Kaoko says multiple high-priority drill targets have been identified, with maiden drilling programmes imminent.
“Our ASX listing marks a significant milestone . . . following our highly successful IPO. The strong response from investors represents a clear endorsement of the quality of our projects and the strength of our team.
“With two highly prospective, drill-ready copper projects in one of the world’s most exciting frontier copper provinces and drilling imminent, we are well positioned to rapidly advance exploration and unlock value for our shareholders,” says MD Gerard O’Donovan.
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