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Cobre Says Chile Copper Project Returns to Positive Cash Flow; Shares Down 4%

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Cobre (ASX:CBE) said its Sierra Atacama copper project in Chile generated operating cash flow of $644,000 in April and $601,000 in May, marking its return to positive cash flow, according to a Monday filing with the Australian bourse.

The project, for which Cobre assumed operational control at the end of March, is expected to remain profitable through June and beyond, the company said.

In the eight weeks since assuming operational control, Cobre reported "materially higher" mined head grades, improved leach recoveries, and better copper cathode quality for the project. The company is now planning a ramp-up to 700 tonnes of copper cathode per month by the first quarter of 2027.

Cobre shares fell 4% in recent Monday trade.

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