Okopa plc (AIM: OKP, formerly referenced as KRS), a Namibian-focused copper exploration and development company, has announced the commencement of exploration activities across its 6,214-hectare licence area in north-western Namibia and the signing of three framework agreements to support potential future copper production. The company holds a 51% interest in Cornerstone Mining (Pty) Ltd, which holds the licences within the Kaoko Copper Belt in Namibia's Kunene Region. The dual-track strategy targets near-term oxide copper production alongside longer-term evaluation of primary sulphide copper potential, a combination that investors in junior resource companies may find notable given the company's stated income from legacy interests.

Key Points

  • Okopa plc (AIM: OKP, ticker reference KRS) is a Namibian-focused copper exploration and development company
  • Exploration has commenced across EPLs 4305, 10499 and 10767 in the Kaoko Copper Belt, covering 6,214 hectares
  • Three framework agreements signed covering technical services, mineral beneficiation and copper supply; initial oxide programme targeted for completion by end of Q1 2027
  • Investors should watch for results from the approximately 14-hole diamond drilling programme and mineral sorting testwork planned over coming months

Dual-Track Strategy Targets Oxide Production and Sulphide Exploration Across 6,214-Hectare Kaoko Copper Belt Licences

Okopa's in-house geological team has completed initial regional structural mapping across its three exploration licences in the Kunene Region of north-western Namibia. The near-term oxide programme includes a shallow diamond drilling campaign of approximately 14 holes designed to delineate oxide copper mineralisation, complemented by independent mineral sorting testwork to assess whether run-of-mine material can be upgraded to a marketable copper concentrate. Historical exploration at Cornerstone included bulk sampling of approximately 15,000 tonnes of material prior to Okopa's acquisition of its 51% interest in September 2026, with a further update on that programme expected in coming months.

Three Framework Agreements With Lamal, Swatech and Veld Metals Formalise Cornerstone's Production Pathway

Okopa has entered into framework agreements with Lamal Partners Limited, Swatech Mineral Processors (Pty) Ltd, and Veld Metals (Pty) Ltd, covering technical and operational services, mineral beneficiation, and copper supply arrangements respectively. Services under both the Lamal and Swatech agreements will be charged strictly at cost with no profit margin or management fee. The beneficiation and supply agreement provides a formal structure for potential future copper-bearing material transfers from Cornerstone to Veld and Swatech's Namibian beneficiation operation, without obligating any party to transact. All future supplies will be negotiated on arm's-length, market-related terms.

Related Party Disclosures Under AIM Rule 13 Reviewed by Independent Directors and SP Angel

All three agreements constitute related party transactions under AIM Rule 13, as Lamal is controlled by directors Russell Lamming and Andrew Malashewsky, while Swatech retains a 49% interest in Cornerstone. Independent directors Nick Taylor and Claire Parry, having consulted nominated adviser SP Angel Corporate Finance LLP, concluded that the terms of each agreement are fair and reasonable to shareholders. The company stated that transactions will be subject to regular review and approval by independent directors to ensure compliance with the agreed terms.

Okopa's Royalty Income and £1.8 Million Fundraise Provide Financial Foundation for Copper Programme

Unlike many AIM-listed junior resource companies, Okopa states it currently generates recurring income from royalty and advisory interests that covers corporate overheads, reducing reliance solely on equity markets to fund operations. Combined with a recently completed £1.8 million fundraise, the company considers it has a financial foundation to advance both the oxide and sulphide copper programmes. Investors should note that the oxide drilling and testwork programme is targeted for completion by the end of Q1 2027, with results expected to inform decisions on potential small-scale production and near-term revenue generation.