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Koryx Copper Hikes Its Stake in Koryx Copper Zambia to 80%

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Koryx Copper (KRY.V) is hiking its ownership stake in Koryx Copper Zambia (KCZ) to 80%, from 51%, it said Friday, after it updated an option agreement with World Class Mineral Ventures.

Koryx will pay $200,000 cash and 80,000 shares at a deemed price of CA$3.50 each for the increased stake. KCZ holds two large-scale exploration licenses at the Luanshya West Project (LEL 23246) and the Mpongwe Project (LEL 23248), in the Zambian Copperbelt.

"While the Haib project in Namibia remains our primary focus, our Zambian exploration programs have made significant progress since Koryx' management transition. Detailed magnetic surveying, soil sampling, and pitting at Luanshya West have helped identify and prioritise four targets which we will begin drilling this month, while regional sampling and our reassessment of exploration data at Mpongwe have confirmed new targets for infill sampling to be completed later this year," said Chief Executive Heye Daun.

Koryx shares closed up CA$0.02 to CA$3.54 Thursday on the TSX Venture Exchange.

Price: $3.54, Change: $+0.02, Percent Change: +0.57%

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Oil & Energy

US Oil Update: Crude Settles Lower as Saudi Rerouting Eases Supply Fears

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Oil & Energy

Hormuz Traffic at Reduced Levels Amid Regional Tensions

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Oil & Energy

Upstream M&A Heads Toward $175 Billion as Oil Volatility Complicates Deals, Rystad Says

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