Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) and its management team are pleased to provide its shareholders with the following update on EBM Mining Namibia’s progress at the Kombat Mine site.
Plant Refurbishment and Mining Update
Kombat Copper previously reported that refurbishment activities have been progressing well. This status continues and EBM has reported that they have successfully reached an agreement to acquire a surplus mill from a major African mining company located in close proximity to Kombat’s operations. With this acquisition, all the necessary major components needed for refurbishing and restarting the Kombat mill have been secured. EBM is now completing a full technical assessment of the facility.
As Kombat has advised in previous releases, mining will initially commence at Gross Otavi and is on track to start during June. Ore will be stockpiled until the mill is operational.
Aggregate Byproduct Opportunities
Kombat Copper has determined that selling and distributing aggregate and sand byproducts from mining processes continue to be an important opportunity for the Company. With that in mind, the scope of EBM’s mining contractor agreement has been expanded to assist the Company with selling its waste rock as construction aggregate. Two opportunities are currently being evaluated, to sell aggregate for a housing development and as railroad ballast. Management expects to have further details on these potential byproduct sale agreements mid-way through the third quarter.
Offtake Agreement Update
Discussions are in progress with several groups for copper and lead concentrate offtake agreements. Management is aiming to conclude agreements during the third quarter.
Paul Bozoki, President and CEO of Kombat Copper, commented: “I am very pleased to report that the refurbishment of the mill and preparations at the mine site are moving along as planned. The management team is preparing for a very exciting third quarter as we move closer to getting the Kombat Mine back into production.”