Koryx Copper Proposes Luxembourg Move, Shareholders to Vote
Koryx Copper Inc., a Canadian copper development company, has announced significant changes, including a potential relocation and a special meeting of shareholders. The company, focused on advancing the Haib Copper Project in Namibia, is seeking approval to transfer its registered office to the Grand Duchy of Luxembourg.
The Haib Copper Project, an advanced copper/molybdenum porphyry deposit, boasts a substantial mineral resource. It holds 414Mt at 0.35% Cu, containing 1,459Mt of copper in the Indicated category, and 345Mt at 0.33% Cu, containing 1,136Mt of copper in the Inferred category. The project's mineralization is typical of a porphyry copper deposit, making it one of the few examples from the Paleoproterozoic era worldwide.
Shareholders will vote on the proposed resolutions at a special meeting, with the company recommending approval. However, the effective time of the transfer may be delayed due to an ongoing labor dispute involving the British Columbia government and public sector workers. If approved, the company aims to continue operating out of British Columbia and obtain authorization from the BC Registrar.
Koryx Copper Inc. is positioning the Haib project as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project, with potential for additional copper production from heap leaching. Despite the proposed relocation, the company remains committed to advancing the Haib Copper Project in Namibia.
