Wedoany.com Report on Mar 11th, As copper prices climb to high levels, the Australian Securities Exchange (ASX) is set to welcome a new member, Kaoko Metals (ASX:KAO). The company focuses on the underexplored copper belt in northern Namibia and recently launched a US$6.5 million Initial Public Offering (IPO) aimed at advancing its sediment-hosted copper projects.

Africa is rich in copper resources, but Namibia's Kaoko Copper Belt remains an underexplored area. Gerard O'Donovan, Managing Director of Kaoko Metals, stated, "The Central African Copper Belt has produced significant ore, but there are other major copper belts in Africa that are not yet fully understood." The company is using modern technology to explore this belt, with its flagship Chalkos project confirming a 20-kilometer mineralized strike. Surface samples show copper grades as high as 69.6% and silver up to 2,030 g/t.

The Chalkos project is located in a geological setting similar to historical mines, and nearby drilling has yielded high-grade results, such as 17 meters at 7.24% copper. The project has received drilling permits, and early tests indicate recovery rates of up to 89%. Additionally, the company holds the Karibib polymetallic project, which complements copper, gold, and tungsten exploration, with surface samples containing 28.4% copper and 26.3 g/t gold.

Kaoko Metals plans to list on the ASX on April 21. The funds raised will be used for drilling activities at Chalkos and Karibib. O'Donovan added, "The team will commence field operations immediately after listing, prioritizing drilling at Otniel." The company's exploration timing aligns with the surge in copper prices, with recent prices exceeding US$13,000 per tonne, creating opportunities for copper development in Namibia.