Based on 400% share price appreciation and 737% market capitalization growth in 2024
VANCOUVER, British Columbia, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Koryx Copper Inc. (“Koryx” or the "Company") (TSX-V: KRY) is pleased to announce that it has been recognized as one of the 2025 top 50 performers on the TSX Venture Exchange (“TSXV”), based on an outstanding 400% share price appreciation and 737% market capitalization growth in 2024. The Company was ranked in the top 10 mining companies in the category.
The 50 companies on the list delivered an average share price appreciation of 207% to investors in 2024, up from 121% in 2023 and 73% in 2022. In addition, the group holds a combined market capitalization of $21.7 billion—an increase of over $16 billion over the course of the year.
The 2025 TSX Venture 50 showcases the top 50 of over 1,600 TSXV issuers. Eligible listed issuers are ranked based on three equally weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value as of December 31, 2024.
Heye Daun, President & CEO of Koryx Copper commented: “We are very proud to be recognized as a Top 50 TSX Venture Exchange Company for 2025, especially given the significant corporate restructure and re-positioning of the Company in 2024. This award is a testament to our team’s experience and capabilities in execution, as we achieved 400% in share price appreciation and 737% in market cap growth in 2024. Looking forward to 2025, we are fully- funded and already executing on a transformative work program to fast track our flagship Haib Copper Project. We remain focused on continuing to de-risk and grow our assets while continuing to create value for shareholders.”
Tim Babcock, President, TSX Venture Exchange commented, “The performance of the TSX Venture 50 underscores the strategic importance of Canadian natural resources and high-growth innovation. With heightened demand for critical minerals, energy security and transition, and advanced manufacturing, this year’s TSX Venture 50 showcases how TSXV is empowering Canadian businesses to raise capital, scale operations, and contribute to a secure and prosperous future for Canada.”
About Koryx Copper Inc.
Koryx Copper Inc. is a Canadian copper development Company focused on advancing its 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014).
Haib has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off). Various technical studies have been completed or are underway aiming to reposition Haib as a large, long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching.
Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a paleoproterozoic porphyry copper deposit in the world and in southern Africa (both in Namibia).
Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
