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ASX:CBE

9 stories mentioning ASX:CBEUpdated 12d ago

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Asia

Cobre Collaborating With Equinor to Assess In-Situ Copper Recovery at Botswana Project

Cobre (ASX:CBE) is collaborating with Equinor to conduct test programs for its fully-owned Ngami copper project in Botswana, according to a Thursday filing with the Australian bourse.Equinor will undertake a series of test programs to evaluate copper recovery and other parameters under dynamic flow conditions, per the filing.Cobre said it completed community engagement activities outlining the proposed in-situ copper recovery demonstration plant, and commissioning of the associated well field has also started.Assay results from five diamond drill holes at Ngami include about 5.8 meters at 0.5% copper and 10.3 grams per tonne grade of silver from 178.2 meters; 5.4 meters at 0.6% copper and 14.1 g/t silver from 198.6 meters; and about 5.1 meters at 0.7% copper and 17.4 g/t silver from 197.9 meters, among other intercepts.Additionally, Cobre started follow-up target drilling at the Okavango copper project in Botswana under a partnership with Sinomine, per the filing.

ASX:CBE
Asia

Cobre Says Chile Copper Project Unaffected by Winter Storm

Cobre (ASX:CBE) said its Sierra Atacama Copper Project in Chile's Antofagasta Region continues to operate normally and has not been impacted by the severe winter storm affecting central and southern parts of the country, according to an Australian bourse filing on Thursday after market hours.The underground mine and fully commissioned solvent extraction-electrowinning processing plant continue to operate at normal rates, with the operational turnaround progressing as planned, including the ramp-up of copper cathode production and the return to positive operating cash flow, the filing added.

ASX:CBE
Asia

Cobre Completes First Tranche of Placement

Cobre (ASX:CBE) completed the first tranche of AU$72.4 million of its AU$90 million placement, according to a Thursday Australian bourse filing.The full second tranche is subject to shareholder approval at an extraordinary general meeting to be convened in either late August or early September.The second tranche includes participation by the board and the company's two major shareholders, Tribeca Investment Partners and Strata Investment Holdings.

ASX:CBE
Asia

Cobre Raises AU$90 Million Through Share Placement; Shares Fall 12%

Cobre (ASX:CBE) secured firm commitments to raise AU$90 million via a two-tranche institutional placement of around 300 million new shares at AU$0.30 each, according to a Thursday filing with the Australian bourse.The placement price represents an 8.6% discount to the stock's 10-day volume-weighted average price, per the filing.Tranche one of the placement will raise around AU$72 million through the issue of around 240 million shares under the company's existing placement capacity, per the filing.Tranche two is expected to raise about AU$18 million through the issue of roughly 60 million shares, subject to shareholder approval at an extraordinary general meeting expected in late August or early September, the filing said.The funds will be used to increase ownership in the Sierra Atacama Project, repay debt, fund exploration and development activities, support the Botswana Projects, and provide general working capital, the filing added.The company's shares fell around 12% in recent Thursday trade.

ASX:CBE
Asia

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

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.

ASX:CBE
Asia

Cobre Says Underground Mapping Confirms Chile Deposit Hosts Broader Mineralized Syste; Shares Fall 5%

Cobre (ASX:CBE) said underground mapping confirmed that the Sierra Atacama deposit in Chile hosts a much broader mineralized system supporting future larger-scale open pit resources, according to a Wednesday Australian bourse filing.Work programs at the company's copper operations in Chile are focused on converting the existing NI 43-101 resource into a JORC-compliant mineral resource estimate, per the filing. The company plans to appoint WSP Australia as independent resource consultant to undertake geological modeling and preparation.Magnetic and magnetotelluric surveys generated priority expansion targets, the company said. Surface mapping of historical workings identified multiple parallel outcropping vein systems west of the current primary mineralized corridor.Cobre's shares fell nearly 5% in recent trading on Wednesday.

ASX:CBE
Asia

Cobre to Acquire 25 Mining Concessions Adjacent to Chile Copper Project

Cobre (ASX:CBE) entered into a binding option agreement with Vision Global Investments to acquire an exploration package comprising 25 mining concessions, totaling 6,820 hectares, adjacent to its Sierra Atacama copper project in Chile, according to a Monday Australian bourse filing.The consideration payable to Vision Global to acquire the concessions is $200,000 upon signing of the agreement, which Cobre has already paid. The company also agreed to pay $200,000 on the first anniversary from signing, another $200,000 on the second anniversary from signing, and $1.5 million on the third anniversary from signing.The mining concessions cover extensions of the mineralized Sierra Atacama structural corridor, with the potential to host additional copper discoveries.

ASX:CBE
Asia

Cobre Appoints Chief Financial Officer

Cobre (ASX:CBE) has appointed Kaveen Bachoo as chief financial officer, effective April 28, according to a Monday filing with the Australian bourse.Bachoo has over 20 years of finance leadership experience in the mining sector, including executive positions at Glencore.

ASX:CBE
Asia

Cobre Begins Around 40,000 Meters Drilling Program at Chile Project, Shares Jump 8%

Cobre (ASX:CBE) will begin an around 40,000 meters surface and underground drilling program at the Sierra Atacama project in Chile, according to a Wednesday Australian bourse filing.The program seeks to expand the resource between known deposits and delineate areas for initial shallow starter pits. It will consist of around 15,000 meters of reverse circulation drilling and 25,000 meters of diamond core drilling.Its shares rose 8% in recent trading on Wednesday.

ASX:CBE

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