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Trigon is a Canadian exploration and development company with a focus on copper and silver holdings in Africa. Currently, the company has operations in Namibia and Morocco. Its portfolio includes an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia widely recognized for tis high-grade copper deposits. In that area, Trigon is focused on the Kombat Mine.
Trigon Metals said it has reached a key milestone at the company’s Kombat copper mine in Namibia. The company said that having mined an average of 980 tonnes of ore per day from its underground operation over a 30-day, it will pause its open pit operations at the end of September 2024.
Trigon shares advanced on the news, rising 11.1% or $0.07 to 70 cents. Trigon shares trade in a 52-week range of $1.28 and 61 cents.
Trigon is a Canadian exploration and development company with a focus on copper and silver holdings in Africa. Currently, the company has operations in Namibia and Morocco. Its portfolio includes an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia widely recognized for tis high-grade copper deposits. In that area, Trigon is focused on the Kombat Mine.
In November 2022, Trigon signed a definitive agreement with Sprott Private Resource Streaming and Royalty Corp. and Sprott Mining Inc. for a US$37.5 million copper stream for its Kombat Mine.
Under the streaming transaction, Trigon pledged to deliver 100% of the silver produced at the Kombat Mine to the investors. Proceeds were earmarked primarily to expand the plant capacity to 60,000 tonnes per month and complete ongoing works to dewater the mine and develop the Asis West underground mine.
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Looking ahead to 2025, the company has previously said the focus remains on underground production from the Asia West underground complex. Trigon projects its copper metal production to range between 5,500 tonnes (12.1 million pounds) and 6,100 tonnes (13.4 million pounds) for the year.
