London-listed Keras Resources has completed the acquisition of a controlling 51% stake in Namibia’s Cornerstone Mining and changed its name to Okopa plc, marking its transition into a copper exploration and development company focused on the Kaoko Copper Belt.
The company announced on 12 October 2026 that shareholders had approved all resolutions at its annual general meeting, clearing the way for the new corporate identity and confirming the completion of its investment in Cornerstone.
The name change will become effective on the London Stock Exchange on 13 October, when the company’s trading symbol will change from KRS to OKP.
The acquisition gives Okopa control of a portfolio of adjoining copper exploration licences covering approximately 6,214 hectares in north-western Namibia, where the company intends to develop shallow copper oxide mineralisation while exploring deeper deposits that could support larger-scale mining.
Okopa also holds an option to acquire another 19% of Cornerstone, potentially increasing its ownership to 70% as exploration and development progress.
The transaction follows the company’s decision to dispose of Keras US LLC and redirect its business towards copper exploration, development and production in Namibia.
Chief executive Russell Lamming said the acquisition had established the foundation for building a copper company in the Kaoko region.
“Okopa has the foundations to build a significant and sustainable copper company in Namibia’s rapidly emerging Kaoko Copper Belt. Our controlling interest in Cornerstone provides a substantial, data-rich and contiguous land package, combining near-term shallow oxide production opportunities with compelling deeper sulphide exploration potential.”
The company’s immediate strategy is to assess and develop known shallow copper oxide mineralisation, which it believes could provide an opportunity to generate revenue before the larger exploration programme is completed.
At the same time, Okopa intends to investigate deeper copper sulphide mineralisation, with the longer-term objective of defining a resource capable of supporting larger-scale production.
The company has not disclosed a mineral resource estimate, production capacity or timetable for commercial production in the 12 October announcement.
An important part of Okopa’s development strategy involves agreements with local Namibian mining claim holders to jointly develop projects within the licence areas.
The company expects these arrangements to provide exposure to small-scale copper production and potentially generate early revenue while supporting local participation in mining activities.
Its proposed development programme combines shallow oxide mining opportunities, mining claim partnerships and systematic exploration across the Cornerstone portfolio.
The approach would allow Okopa to pursue smaller-scale development opportunities while collecting the geological information needed to assess whether deeper sulphide deposits could support a larger mining operation.
Lamming said the company was financially positioned to implement its strategy following the fundraising and disposal of its United States business.
“With a funded, debt-free corporate structure, retained royalty exposure to Diamond Creek and a strengthened Board focused on delivery, Okopa is well positioned for its next phase of growth. Our development plan is already being implemented and is expected to generate a strong pipeline of operational and exploration news as we develop the project. Working closely with our local Mining Claim partners, we aim to create value for all stakeholders while building meaningful exposure to copper, a commodity with compelling long-term fundamentals driven by electrification, grid investment and growing global demand.”
Okopa describes itself as fully funded and debt-free, although the announcement does not specify the amount of cash available for the Namibian exploration and development programme.
Despite disposing of Keras US LLC, the company retains an uncapped royalty of US$10 per long ton on qualifying future production from Diamond Creek, together with income associated with its historical manganese project in Togo.
These interests are expected to provide potential additional income alongside the company’s new copper strategy.
Following shareholder approval, Okopa has applied for 59 million shares to be admitted to trading on London’s AIM market.
These comprise 45 million second-tranche subscription shares and 14 million initial consideration shares issued in connection with the Cornerstone acquisition.
Trading in the new shares is expected to begin on or around 13 October 2026.
Following admission, the company will have 260,873,054 ordinary shares carrying voting rights.
The name change has already been registered at Companies House, while existing shareholders will retain their holdings and current share certificates will remain valid.
The company also confirmed the retirement of Brian Moritz, who had served for 15 years.
Lamming thanked Moritz for his contribution to the business as it enters a new phase centred on Namibia.
The acquisition and rebranding place Okopa among the companies seeking to establish copper operations in the Kaoko Copper Belt, although its ability to move into production will depend on further technical work, project development and the commercial viability of the mineralisation.
