Chamwe Kaira
Ongwe Minerals Incorporated has completed all requirements for a dual listing on the Namibia Securities Exchange (NSX), with trading set to begin on Wednesday.
The company is a Canadian-listed gold exploration firm focused on finding and developing gold deposits in Namibia. Its primary listing will remain on the TSX Venture Exchange.
Ongwe Minerals chief executive officer Dave Underwood said the listing strengthens the company’s presence in Namibia’s capital markets.
“The dual listing of Ongwe on the Namibian Securities Exchange is a very important step in building Ongwe’s local Namibian capital markets presence. Ongwe is fortunate to have a dedicated and substantial base of Namibian shareholders, many of whom have shared in the prior successes of the Ongwe team, through Osino Resources and Koryx Copper, both of whom were listed and raised significant capital on the Namibian exchange. This listing is specifically designed to streamline the process for both institutional and retail investors to trade our shares or participate in upcoming capital raises.”
He said the move will help expand the company’s shareholder base and improve liquidity, while giving Namibians a chance to invest in local mineral projects.
The company is working on three projects in the northwest Damara gold belt, with a focus on the Omatjete and Khorixas projects.
The Omatjete project is located along the Okondeka Fault Zone.
Early work has led to the discovery of the Manga gold prospect, which covers about 4.5 kilometres by 1 kilometre. Initial drilling has confirmed gold in bedrock, and further work is ongoing.
The Khorixas project lies about 60 kilometres west of the Eureka gold project. It includes two main discoveries, Belmont and K17.
The Belmont prospect has a surface footprint of about 12 by six kilometres.
The Ongwe team has experience in gold exploration in Namibia. It was involved in projects linked to Osino Resources, including the Twin Hills and Eureka deposits, and also in the development and sale of Auryx Gold’s Otjikoto mine to B2Gold.
