Wednesday 14 April 2021
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Kombat Copper appoints new President

Kombat Copper Inc. recently announced the appointment of Stephan Theron as President and CEO of Kombat Copper. Paul Bozoki reverts to his role as CFO and Heidi Gerry resumes her role as Corporate Controller.

Theron also joins the board of directors of Kombat Copper replacing Bozoki.
He brings to Kombat Copper 17 years of extensive management, capital project development and M&A experience within the mining industry. Prior to joining Kombat Copper, Theron was Managing Director at Liberty Metals & Mining, a private equity group based in Boston, Massachusetts. He was also a strategic member on the board of directors of True Gold Mining. Prior to his work in Boston, Theron was President and CEO at Forbes and Manhattan Coal Corp., based in Toronto.

While he worked at Forbes Coal, he led the acquisition, restructuring and development of two coal mines in South Africa. He has structured numerous mining focused investments and has worked on mining projects throughout Africa and North America. Theron holds two degrees in Finance and is a Certified General Accountant.
Justin Reid, Executive Chairman of Kombat Copper, commented: “The Board of Kombat Copper is pleased to welcome Stephan as our new President and CEO.

Stephan’s extensive operational and African-focused experience, coupled with his detailed knowledge of project funding and investing will act to not only strengthen our core group, but position the Company as we advance through our previously announced mid-term initiatives and ultimately move back towards full scale production.

We have a lot of work to do, and we believe Stephan is the right person to lead us.
“The Board would also like to thank Paul Bozoki, who will be returning to his role as CFO. Paul stepped in as CEO as we worked on our final restructuring plan.” Theron said: “I am pleased to join Kombat Copper at an important time in the copper price cycle. The Kombat Mine is very well positioned to act as a platform for future growth in Africa and potentially beyond. I’m looking forward to getting started, further enhancing the team’s strength and implementing the mine development strategy.”

On appointment, the company granted Theron 1 500 000 stock options, in accordance with the company’s stock option plan. The options have an exercise price of US$0.05 and will expire five years from the date of grant. The options will vest immediately. The grant of options remains subject to the approval of the TSX Venture Exchange.

About Kombat Copper
Kombat Copper 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 upside.

It continues to hold an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licences are three past-producing mines including the company’s flagship property, the Kombat Mine. Kombat Copper has contracted EBM Mining Namibia to begin mining lead/copper mineralisation at Kombat East, Kombat Central and potentially Gross Otavi within the year.

Concentrates will be produced at the company’s production facilities, which are being refurbished by EBM. EBM is also evaluating opportunities to market aggregate stone and sand by-products locally.

The decision to mine the near surface mineralisation on the Kombat East and Kombat Central areas, and produce any concentrate from such mining and processing is not based on a feasibility study or mineral resource/reserve with demonstrated economic viability.

Kombat Copper has decided to put certain areas of the Kombat Mine into production without first establishing mineral resources or mineral reserves, supported by a technical report and/or feasibility study and has warned that such production may not be economically feasible and historically such projects have a much higher risk of economic or technical failure.

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