$2.28 per share: Kaoko Metals stock jumps 151% after copper drill success in Namibia

Kaoko Metals announced that two drill holes at its Otniel prospect, part of the broader Chalkos project in Namibia, recovered thick copper mineralisation. The first hole intersected 60.25 metres and the second recovered 51.83 metres of visible copper mineral from shallow depths. These results include chalcocite, chalcopyrite, and native copper. The discovery occurred at a virgin prospect located approximately 40 kilometres away from existing operations. Trade data shows shares reached a peak of $2.28 before closing at $1.85. This represented a 151% gain on the day. Assay results for these drill samples are not available until four to six weeks from the announcement date. Kaoko had listed on the Australian Securities Exchange in May and was trading at 74 cents per share when the news broke.