Kaoko Metals Raises $20 Million for Namibia Exploration

Kaoko Metals has secured $20 million through an institutional placement to accelerate drilling activities at its Chalkos Copper-Silver Project and fund exploration efforts at the Karibib Gold-Copper-Tungsten Project.

The company placed approximately 9.1 million fully paid ordinary shares at $2.20 each with institutional, professional, and sophisticated investors, reflecting a 12% discount to the last closing price of $2.50 on September 3, 2026, and a 20.2% premium over the 15-trading-day VWAP of $1.83.

The placement attracted support from both new global and domestic institutional investors as well as existing shareholders, with Euroz Hartleys Limited and Cumulus Wealth Pty Limited serving as Joint Lead Managers and Bookrunners.