Trigon Metals Inc. has received the first quarterly payment from the sale of its interest in Namibia’s Kombat Mine, marking the start of a structured payout that will provide the company with ongoing funding.
The Toronto-listed company said the payment, made ahead of the April 4, 2026, deadline, forms part of an agreement with Kamino Minerals Limited and Horizon Corporation Limited following the disposal of its stake in the mine.
Under the terms of the transaction, Trigon will receive eight quarterly payments, creating a steady, non-dilutive funding stream.
The company is also eligible for additional royalties and performance-based bonuses tied to the restart of production at the operation, now referred to as the New Horizon Mine.
A further bonus payment of between US$3.5 million and US$13 million is expected once underground production reaches 4,500 tonnes of contained copper over 90 days, with the final amount linked to prevailing copper prices.
Trigon president and CEO Jed Richardson said the payments will support the company’s shift toward exploration activities in Morocco.
“The steady stream of capital from the sale of our interest in the Kombat Mine provides non-dilutive financing for our Moroccan exploration,” Richardson said. “We are looking forward to the first results out of our district-scale silver-polymetallic Addana Project.”
The company has begun preparations for drilling at the Addana project, including establishing camp infrastructure and clearing access routes, with a drill rig already on site.
Trigon said the project is located in a region known for hosting silver and polymetallic mineralisation, and that the current programme targets priority zones identified from historical data and recent fieldwork.
The payment structure linked to Kombat provides Trigon with near-term funding while maintaining exposure to future upside through royalties and production-linked incentives, as the company pivots away from its Namibian asset base toward its Moroccan portfolio.
Kombat, located in Namibia’s Otjozondjupa Region, has historically been a key copper operation within the Kalahari Copperbelt, with efforts under new ownership focused on restarting underground production.
