Kaoko Metals Targets ASX Listing With A$6.5M IPO to Advance Copper Exploration in Namibia’s Kaoko and Damara Belts
Australian exploration company Kaoko Metals has launched an Initial Public Offering (IPO) to raise between A$5.5 million and A$6.5 million to finance copper exploration projects in Namibia. The company is targeting a listing on the Australian Securities Exchange (ASX) on 21 April 2026.
The Perth-based firm plans to use the proceeds to advance a portfolio of copper-focused exploration assets in the Kaoko Copper Belt in northern Namibia and the Damara Belt in central Namibia.
Both geological regions are considered prospective for sediment-hosted copper deposits but have seen limited modern exploration.
According to the company’s prospectus, lodged with the Australian Securities and Investments Commission on 23 February 2026, drilling programmes are expected to begin shortly after the planned listing, with exploration activities scheduled to start immediately following the capital raise.
Managing director and chief executive Gerard O’Donovan said the company aims to position itself as an early entrant into what it considers an emerging copper frontier in Namibia.
“While Africa is best known for the Central African Copper Belt and the Kalahari Copper Belt, Namibia also hosts the lesser-known but highly prospective Kaoko Copper Belt,” O’Donovan said.
He noted that the belt shares geological similarities with the Central African Copper Belt, one of the world’s most productive copper regions.
Flagship Chalkos Copper-Silver Project
Kaoko Metals’ flagship asset is the Chalkos Copper-Silver Project. Exploration has identified surface mineralisation along a mineralised trend stretching roughly 40 kilometres.
Rock chip sampling has returned grades of up to 69.6% copper and 2,030 grams per tonne silver.
The company said the project’s geology is comparable to the Central African Copper Belt and hosts favourable copper mineralisation, including chalcocite and bornite at the surface. Early metallurgical testing has indicated potential copper recoveries of up to 89%.
The project is already fully permitted for drilling, with exploration expected to begin soon after the IPO.
Karibib Copper-Gold-Tungsten Project
Kaoko Metals’ second key asset is the Karibib Copper-Gold-Tungsten Project, located within Namibia’s Erongo region. The project sits within a 20-kilometre structural corridor and benefits from established infrastructure.
Previous drilling at Karibib intersected mineralisation including 4 metres grading 1.98% copper, 0.92 grams per tonne gold and 0.72% tungsten.
Surface sampling has also returned high-grade results, including rock chips with up to 28.4% copper, 453 grams per tonne silver and 26.3 grams per tonne gold.
The project lies within the same geological belt that hosts major deposits such as the Navachab Gold Mine, the Twin Hills Gold Project and the Kokoseb Gold Project.
Under a staged earn-in agreement, Kaoko Metals can acquire up to 85% ownership of the Karibib project through exploration spending and milestone payments.
Growing exploration interest in Namibia
Funds raised from the IPO will support drilling at both projects, alongside geophysical surveys, geological mapping, geochemical sampling and metallurgical studies.
The company is chaired by Mark Thompson, founder and managing director of Talga Group, with a board that includes executives experienced in African exploration and mining company listings.
The IPO comes amid growing global demand for copper driven by electrification, renewable energy infrastructure and electric vehicles.
Industry forecasts suggest that without major new discoveries, the world could face a copper supply deficit of around 10 million tonnes by 2040.
Namibia has increasingly attracted exploration investment due to its mining-friendly regulatory environment, skilled workforce and established logistics infrastructure, including the port of Walvis Bay.
If the IPO proceeds as planned, Kaoko Metals expects to issue shares on 9 April 2026, dispatch holding statements by 13 April, and commence trading on the ASX on 21 April 2026.
About the Author
