Why I think Namibia is emerging as a mining superpower and why this C$400 million company could become a takeover target. Plus more news from Comstock.
"Power will mostly come from across the border in South Africa"
I really don't like the sound of that. The utility company there, Eskom, has become a byword for unreliability with rolling black-outs. And once they start load-shedding my guess is that customers across the border will be cut off first.
A fair point, and one I asked about. My understanding is that the project would connect to Namibia’s grid, which in turn imports power from South Africa, rather than relying directly on Eskom alone. The company is also looking at solar and other supplementary power sources. It’s certainly an infrastructure risk, but one that management appears well aware of and has been planning around. It’s something I’ll continue to watch as the project advances.
I can see HL trade it. Dominic what % of share portfolio are you aiming for with a position like this? No cash flow for me at the moment so will have to take profits/cut losses elsewhere.
I don’t really like suggesting position sizes because they’re entirely dependent on your own circumstances, portfolio and risk tolerance. Someone with 90% in index funds can sensibly take a larger position than someone who already has half their portfolio in speculative miners. If you have to sell other holdings to fund it, I’d spend at least as much time asking whether those are the right ones to sell as whether Koryx is the right one to buy.
The company recently redomiciled from Canada to Luxembourg, which is why there are two listings showing up on some platforms. The Canadian “Inc” entity is the old one.
Interactive Investor have now confirmed to me that the Canada listed KRY.v shares are available to trade, so hopefully the message you were seeing has now been updated.
Koryx is further advanced. It already has a huge defined resource, a PFS due by the end of this year, proper institutional coverage, a proven Namibian management team and, in my view, a clearer takeover route.
So my rough ranking would be: Midnight Sun for exploration upside, Koryx for the cleaner risk-reward and takeover thesis.
It’s certainly volatile, as most junior mining stocks are. Personally, I’d always prefer to buy on weakness rather than chase strength, but I’m not waiting for a specific price. If my investment thesis changes, it won’t be because the share price has moved 10 or 20%, it’ll be because something fundamental has changed.
My view remains that the current valuation is attractive if the company continues to execute and ultimately becomes a takeover candidate. That said, don’t be surprised if it has some sharp corrections along the way. That’s the nature of this end of the market.
"Power will mostly come from across the border in South Africa"
I really don't like the sound of that. The utility company there, Eskom, has become a byword for unreliability with rolling black-outs. And once they start load-shedding my guess is that customers across the border will be cut off first.
A fair point, and one I asked about. My understanding is that the project would connect to Namibia’s grid, which in turn imports power from South Africa, rather than relying directly on Eskom alone. The company is also looking at solar and other supplementary power sources. It’s certainly an infrastructure risk, but one that management appears well aware of and has been planning around. It’s something I’ll continue to watch as the project advances.
I can see HL trade it. Dominic what % of share portfolio are you aiming for with a position like this? No cash flow for me at the moment so will have to take profits/cut losses elsewhere.
Hi Zak
I don’t really like suggesting position sizes because they’re entirely dependent on your own circumstances, portfolio and risk tolerance. Someone with 90% in index funds can sensibly take a larger position than someone who already has half their portfolio in speculative miners. If you have to sell other holdings to fund it, I’d spend at least as much time asking whether those are the right ones to sell as whether Koryx is the right one to buy.
Understood. Have a few a underperforming positions which look like good candidates for conversion.
Sounds like a good punt, Dominic, but Interactive Investors doesn't trade it. Do you have another recommended broker that you use?
I've written to an II as well.
Hargreaves Lansdown will trade it. I've written to ii.
Dominic, did you see this - https://www.undervalued-shares.com/weekly-dispatches/zccm-is-the-zambian-mining-giant-finally-awakening/?utm_source=Weekly+Dispatches&utm_campaign=f18be948f9-US_WD_2026_07_03&utm_medium=email&utm_term=0_6e748b56d1-f18be948f9-448876837
Yes I haven’t had a chance to read it yet v
Is Koryx copper SA and Koryx Copper Inc (both show on ii SIPP and I think I can trade the SA) the same thing?
The company recently redomiciled from Canada to Luxembourg, which is why there are two listings showing up on some platforms. The Canadian “Inc” entity is the old one.
Interactive Investor have now confirmed to me that the Canada listed KRY.v shares are available to trade, so hopefully the message you were seeing has now been updated.
How do you rate Korx vs Midnight Sun Mining? I found the presentation video where you were on the panel engrossing, although have not invested as yet.
Koryx is further advanced. It already has a huge defined resource, a PFS due by the end of this year, proper institutional coverage, a proven Namibian management team and, in my view, a clearer takeover route.
So my rough ranking would be: Midnight Sun for exploration upside, Koryx for the cleaner risk-reward and takeover thesis.
Hi. Dominic, what sort of entry point are you looking at for this stock? It has been very volatile over last 12 months
S
Hi S,
It’s certainly volatile, as most junior mining stocks are. Personally, I’d always prefer to buy on weakness rather than chase strength, but I’m not waiting for a specific price. If my investment thesis changes, it won’t be because the share price has moved 10 or 20%, it’ll be because something fundamental has changed.
My view remains that the current valuation is attractive if the company continues to execute and ultimately becomes a takeover candidate. That said, don’t be surprised if it has some sharp corrections along the way. That’s the nature of this end of the market.