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Koryx Copper Inc V.KRY

Alternate Symbol(s):  KRYXF

Koryx Copper Inc. is a Canadian copper development company focused on advancing the 100% owned, PEA-stage Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large and advanced copper/molybdenum porphyry deposit in southern Namibia. The Haib Copper project, Exploration and Prospecting License 3140, is held by Haib Minerals (PTY) Ltd, a Namibian corporation fully held by the Company. It holds the option to acquire up to 80% of three large scale exploration licenses in the copper belt in Zambia. The licenses include Luanshya West project (LEL 23247), Chililabombwe project (LEL 23247), and Mpongwe project (LEL 23248). The licenses cover about 752 square kilometers in the Central African Copper belt. LEL 23247 is situated in the center of the Zambian Copper belt, which forms part of the Central African Copper belt. The three licenses sits on the same side of the Copperbelt, which hosts nine large copper mines.


TSXV:KRY - Post by User

Post by mrmomoon Jul 15, 2021 8:25am
201 Views
Post# 33548130

DSM's website back online....

DSM's website back online....At least this is a little bit of encourgaging news AND it's the minimum required for them to maintain lines of communication with their s/h & other investors. By re-activating their website along with contact information, this will at the very least install some small amount of faith for investors that all is NOT done and maybe something is in the process of being put together to deal with the Haib issue. I'm glad they've listened to folks like me who were pushing the issue to have their website back online and had the common sense to do so.8)

Next up....hopefully...will be an update on HOW they will deal with the refusal to have their Haib license renewed by the Namibian ministry of Mines & Energy. They really only have three options at their disposal here. One, try to continue re-engage & renegotiate with the Namibian Gov't to convince them otherwise. Two, bring the matter to the courts to contest it. Three, do nothing and accept the Gov't decision, re-organize the company and move on to other projects. Which one it will be, is anyone's guess.

I figure they will at least try the first option to TRY to bring the Namibians back to the renegotiating table to attempt to have their permits renewed. It's probably been in the process of already occuring and the reason why the company has been silent and have not updated their s/h .....yet. Not sure how successfull that will be as they've ALREADY asked for the case to be reviewed by the "guy in charge" at the Ministry.....and he immediately & flatly refused the renewal. I mean something this sensitive, complex & important that should take at least a few weeks to be reviewed, at least in western democracies, was over & done in less than 48 hres. So this alone should tell you pretty much were the Namibians stand and their strong motivations to have the Canadians removed from this project pronto. So i really doubt they'll have ANY sucess going this route and if they do, they'll probably have to make some major concessions to the Namibian Gov't, which was probably the reason for the shakedown in the first place.

Therefore, what you have left is option 2 & 3. You either contest it in the courts or you let it go completely. For the former, they better have ALL the proper legal documentation that recorded ALL the changes that were made AND agreed by the Namibians, to even have chance to win in the courts. This is either a real simple case to resolve OR a real big mess for the company, depending if they have the PROOF to contest the allegations. Hopefully we'll be getting an update soon on which direction they will go, it's really in the best interest of the company they do so soon.

Good luck & God speed


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