Chamwe Kaira
Koryx Copper Inc. has increased the size of its planned share sale to about 40 million Canadian dollars, or roughly N$475 million, after strong investor demand.
The move strengthens the company’s funding position as it advances its copper projects in southern Africa, including the Haib Copper Project in southern Namibia.
The Canada-listed company said it will now sell just over 16.3 million new shares at a price of C$2.45 per share.
This is expected to raise about C$40 million before costs. The fundraising is being led by Stifel Canada, which is acting as the sole manager for the transaction.
Koryx has also granted the underwriters an option to buy an additional 2.4 million shares at the same price. If this option is fully exercised, the total amount raised could increase further.
The option may be used shortly before the transaction is completed, depending on investor demand.
The company said most of the funds will be used to advance technical and development work at the Haib Copper Project. This includes further studies to better define the project and continued exploration on the site. Part of the money will also be used for general corporate costs and working capital.
The share sale is expected to be finalised around 20 January 2026. Completion is subject to regulatory approvals, including approval from the TSX Venture Exchange in Canada.
Koryx Copper focuses on developing copper assets in Namibia and Zambia at a time when global demand for copper is rising. The metal plays a key role in renewable energy systems, electric vehicles and power infrastructure, which continue to drive demand.
The Haib Copper Project, which Koryx owns outright, is one of Namibia’s more advanced copper projects. It is located in the south of the country and has a long exploration history that dates back to the 1960s. Over the years, Koryx has completed more than 80 000 metres of drilling at the site.
Several major mining companies previously worked on the project, including Falconbridge, Rio Tinto and Teck. Their work produced extensive geological and technical data, which now provides a strong base for Koryx as it moves the project forward.
Beyond Haib, Koryx is also developing two copper exploration licences in Zambia’s copper belt, one of the world’s best-known copper-producing regions.
The latest fundraising is expected to support continued progress on these assets while helping the company maintain a solid financial position.
Caption
The Canada-listed Koryx Copper Inc plans to sell just over 16.3 million new shares, raising about C$40 million before costs.
- Photo: Contributed
