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An update from C29 Metals Limited ( (AU:C29) ) is now available.
C29 Metals has struck a binding deal to acquire an 80% stake, with an option to lift this to 90%, in a 1,074sqkm portfolio of copper and gold exploration licences across three project areas in Namibia, including the advanced Kopermyn Copper Project in the Tier 1 Otavi Copper Belt. The transaction, supported by a A$4.7 million equity placement and the conversion of a director loan, positions C29 in one of Africa’s premier mining jurisdictions with near-surface, high-grade copper intercepts open along strike and at depth, expanding its growth pipeline and strengthening its exposure to copper’s energy-transition thematic and sustained gold price strength, while a new exploration manager bolsters execution capability.
The acquisition includes projects adjacent to Midas Minerals’ Otavi Copper Project and near the Tsumeb smelter, enhancing C29’s strategic footprint in established infrastructure corridors. Early-stage gold assets in the Damara Gold Belt add diversification and optionality, as the company advances tenement grants and drill permitting with plans to commence drilling shortly, potentially reshaping its resource base and long-term value proposition for investors.
More about C29 Metals Limited
C29 Metals Limited is an Australian exploration company focused on copper and gold projects, listed on the ASX and headquartered in West Perth, Western Australia. The company targets district-scale opportunities in highly prospective mineral belts, with a growing emphasis on critical energy-transition metals such as copper alongside exposure to high-value gold markets.
Average Trading Volume: 584,048
Technical Sentiment Signal: Hold
Current Market Cap: A$5.57M
See more insights into C29 stock on TipRanks’ Stock Analysis page.