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Kaoko Metas (ASX:KAO), having listed on the ASX in early May, is already up +120% above its IPO price as the company kicks off pre-drilling fieldwork on-site its flagship project straddling Namibia’s Kaoko Copper Belt (KCB) – one of the major forgotten copper belts in Africa.
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Disclaimer: This content has been prepared as part of a partnership with KAO and is intended for informational purposes only.
While the Kalahari Copper Belt gets a lot of attention, the Kaoko belt (after which KAO is named, in case that isn’t obvious) is vastly overlooked.
Considered just as fertile, the neoproterozoic Kaoko belt sits west of the Congo craton and is up to 1B years old, formed when Africa, South America and Australia were still connected in a mega-continent called Gondwana.
Enter Kaoko Metals. It’s hit the ASX with two walk-up projects under its belt – Chalkos and Karibib respectively – and Chalkos is what will become of foremost interest to drillers in the months ahead.
Chalkos is a copper-silver project (and the recent rise of BHP Ltd on the back of copper production needs little framing to underscore copper potential) while Karibib is is a copper-gold-tungsten project, where gold’s appeal is obvious and tungsten remains a highly sought after defence metal.
But it’s the red metal, copper, that Kaoko has its eyes on – and the company can’t wait to start drilling. To that end, at Chalkos, drill-readiness works are underway fresh on the back of Kaoko’s listing on the ASX, with that underexplored landholding now the subject of mapping and site access works.
At Karibib, grab sampling is underfoot to ready targets for a maiden drill program further down the line, as well as trenching and electromag analysis.
But with drilling for copper imminent, market interest in Kaoko since the company listed in early May is clear.
KAO last traded at 43cps.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
