News Feed Item

Kombat Copper Updating Website to Clarify Technical Disclosure

TORONTO, ONTARIO -- (Marketwired) -- 07/17/14 -- Kombat Copper Inc. (TSX VENTURE: KBT) ("Kombat Copper" or the "Company") announces that as a result of a review by the British Columbia Securities Commission ("BCSC"), Kombat is issuing this news release to clarify our disclosure. Some of the information on the Company's website and presentation materials included certain out-of-date information and disclosure of historical and other mineral resources that was not compliant with the standards of disclosure for mineral projects as set out by National Instrument 43-101 ("NI 43-101") and as a result could be misleading.

The presentation that was included on the Company's website dated May 1st, 2014 (the "May Presentation") included historical estimates on pages 7 and 11 that did not include the required cautionary language about relevance and reliability and information about the key assumptions and parameters in deriving the historical estimate. The May Presentation also included disclosure of the potential copper and silver grades, exploration targets at the Asis Far West Sector and the Tschudi strike extension exploration targets on pages 11 and 17 of the May Presentation without the cautionary statements.

Further, the May Presentation included disclosure regarding the potential at Asis Far West that was superseded by the inferred mineral resource estimate disclosed in the Company's press release dated May 20, 2014.

In addition, page 14 of the May Presentation included a reporting of gross in-situ metal value that could be misleading. Moreover, as such information was based on a historic estimate, it has been removed from the presentation and the Company retracts such disclosure because of its potential to be misleading to shareholders as they may overstate the potential value of the mineral deposit.

The Company has also removed from the presentation certain disclosure regarding an exploration target and an economic analysis of the Tschudi Deposit located on the adjacent property on pages 18 and 19 of the Company's May Presentation and its March 13, 2014 press release. The Company retrieved this information from Weatherly International's website but has subsequently been removed from the Company's presentation as it appeared to imply the potential economics of the Tschudi exploration target. The economic analysis and exploration target on the Company's adjacent property are being retracted by the Company and investors should not rely upon that disclosure.

In particular, the Company included disclosure of a historical estimate of the Kombat Mine tailings. To the extent such historical information is not addressed by the Company's press release dated May 20, 2014 and accompanying technical report. Moreover, the Company has increased its cautionary statements regarding the use of historical information on the tailings in its new presentation as found on its website. The non-compliant historical estimate comes from a resource calculation document by Gold Field's dated 1984. (i)A qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves. Kombat Copper is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon. Additional metallurgical and engineering studies are required.

On pages 15 and 16 of the May 2014 Presentation the Company stated that there was an inferred resource at its Gross Otavi Property. This declaration was in error, as it should have been stated as a historic resource. The non-compliant historical estimate comes from a Samrec classification resource statement document issued in technical report "Ongopolo Mining Limited, Northern Namibia, 31 December 2004, Summary of Ore Reserves and Resources for Kombat Mining Complex, Asis West Mine, Kombat Mine, Asis Far West Mine, Gross Otavi Mine". A qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves. Kombat Copper is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon. Additional metallurgical and engineering studies are required.

Finally, the Company is clarifying its disclosure regarding its key objective for 2014. In particular, the Company advises that it is conducting a Preliminary Economic Assessment of the project, and not determining economic viability at this time. Investors are cautioned that Preliminary Economic Assessments are by definition preliminary in nature, include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

The Company has filed on SEDAR an updated NI 43-101 compliant-technical report entitled "Technical Report and Resource Estimate on the Kombat Copper Project, Grootfontein District, Otjozondjupa Region, Namibia" dated July 17, 2014 by P&E Mining Consultants Inc.

Qualified Person

F. W. (Bill) Nielsen, P.Geo., President and CEO of Kombat Copper, is the Qualified Person who has reviewed and approved the contents of this news release.

About Kombat Copper

Kombat Copper (TSX VENTURE: KBT) is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with significant exploration upside.

The Company holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company's flagship property: the past-producing Kombat Mine. The Kombat Mine's extensive infrastructure includes an 800m production shaft which was opened in 2006, three recently-operational shafts, ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator (replacement value est. +$100MM) all supported by the Company's local town site. The Kombat Mine is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in Tsumeb, located 100 road kilometers away from the Kombat Mine.

In addition to mining licenses, the Company holds an 80% interest in five Exclusive Prospecting Licenses ("EPL's") covering an area of more than 2200 km2. The EPL's are located also within the copper-rich Otavi Mountainlands and are in close proximity to Tsumeb.

Cautionary Notes

Neither 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.

This news release may contain forward-looking statements. These statements include statements regarding the mineral resource estimate, the Company's plans for the Kombat Mine, its expectations for the Kombat Mine and the potential of the mine, and the expected effect on the Company's financial and operating results. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
operations aren’t merging to become one discipline. Nor is operations simply going away. Rather, DevOps is leading software development and operations – together with other practices such as security – to collaborate and coexist with less overhead and conflict than in the past. In his session at @DevOpsSummit at 19th Cloud Expo, Gordon Haff, Red Hat Technology Evangelist, will discuss what modern operational practices look like in a world in which applications are more loosely coupled, are deve...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...