Koryx Copper, formerly referred to as Deep-South Resources, has submitted a revised technical report for the preliminary economic assessment (PEA) of the Haib copper project in the southern region of Namibia.
The amendment has not had any effect on the key components of the PEA, which include resources, metallurgy, mine design, cost estimates, economic analysis, and environmental problems.
Koryx, which was embroiled in a legal dispute with Namibia’s Ministry of Mines and Energy regarding the renewal of the project's licence, delayed making the necessary amendments to the initial technical report until the legal status of the licence was clarified, as disclosed in a news release dated February 7, 2023.
It retained the services of Damian Connelly and Peter Walker after the licence was extended in July 2023 to remedy the flaws identified by the British Columbia Securities Commission and revise the report accordingly.
Both of them are original co-authors and independent competent experts who contributed to the technical report dated February 2021.
In addition, Koryx designated Mark Gallagher, an impartial, qualified individual, to provide input on the mining methods of the revised report.
The principal changes to the amended report include incorporating a pit constraint into the mineral resource estimation; providing additional information to support the selection of the cut-off grade; eliminating five metal extraction options in favour of retaining a single base case; revising the recommendations to suggest initiating a feasibility study rather than proceeding directly with a feasibility study; and removing all appendices that were previously attached to the original technical report from February 2021.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
