Kaoko Metals Limited has debuted on the Australian Securities Exchange after raising $6.5 million at $0.20 per share, giving the company an initial market capitalisation of about $12.1 million and an enterprise value of roughly $5.3 million.
The company listed on 6 May 2026, with approximately 60.6 million shares on issue and an estimated $6.8 million in cash before costs, positioning it to advance exploration across its Namibian copper portfolio.
Kaoko Metals is focused on two drill-ready projects, the Chalkos Copper-Silver Project in the Kaoko Belt and the Karibib Copper-Gold-Tungsten Project in the Erongo Region, both fully permitted for exploration.
The listing comes as global demand for copper intensifies, driven by electrification, renewable energy infrastructure and data centre expansion, placing renewed focus on underexplored copper provinces such as Namibia’s Kaoko Belt.
At the centre of the company’s portfolio is the Chalkos project, where surface sampling has returned exceptionally high grades of up to 69.6% copper and 2,030 g/t silver.
The project lies within the same geological setting as the historic Tsumeb Mine, which produced around 30 million tonnes of ore yielding 1.7 million tonnes of copper at 4.3%, and near Midas Minerals Limited’s Otavi project, where recent drilling has confirmed the presence of high-grade sediment-hosted copper systems.
Kaoko Metals said Chalkos hosts about 20 kilometres of confirmed mineralised strike length, with a further 20 kilometres of prospective ground still largely unexplored, highlighting the project’s scale potential.
Early metallurgical work has also returned encouraging results, with recoveries of up to 89% from bulk samples, pointing to potential for efficient processing.
The Karibib project, located about 33 kilometres south of Karibib and covering nearly 25,000 hectares, adds polymetallic exposure with copper, gold and tungsten mineralisation. Initial drilling has returned intercepts such as 4 metres at 1.98% copper and 0.92 g/t gold, while surface sampling has produced copper grades exceeding 28%.
The project sits within a 20km by 2km structural corridor with limited modern exploration completed to date, offering significant upside potential as drilling expands.
Following the listing, the company plans to commence fieldwork immediately, including diamond drilling at Chalkos and reverse circulation drilling at Karibib, supported by geophysical surveys, mapping, and geochemical programmes.
Kaoko Metals is targeting the Kaoko Copper Belt, one of Africa’s least explored copper provinces, which is considered geologically analogous to the Central African Copperbelt. This region has produced more than five billion tonnes of ore globally.
Sediment-hosted copper deposits, which underpin both regions, account for roughly 20% of global copper supply and are increasingly sought after due to their high grades and scalability.
An experienced board and management team leads the company with strong African and Namibian exposure, including chief executive Gerard O’Donovan and in-country exploration lead Dr Ismael Kangueehi.
The listing comes as Namibia continues to attract growing interest as a mining jurisdiction, supported by stable legislation, strong infrastructure and rising demand for critical minerals, positioning projects such as Chalkos and Karibib within a broader shift toward new copper discoveries.
