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Cobre Limited ( (AU:CBE) ) has shared an update.
Cobre Limited has announced the completion of a significant investment phase with Sinomine International Exploration, which has become a substantial shareholder by acquiring 25 million new shares for A$1.5 million. This investment will fund a targeted diamond drilling program at Cobre’s Okavango Copper Project in Botswana, aiming to explore new copper-silver deposits. The transaction marks the first phase of Sinomine’s investment, with options for further investment and potential acquisition of a majority interest in the project, indicating a strategic partnership that could enhance Cobre’s exploration capabilities and market position.
More about Cobre Limited
Cobre Limited is a company operating in the mining industry, primarily focusing on copper exploration. The company is engaged in projects within the Kalahari Copper Belt in Botswana, aiming to discover and develop copper-silver deposits.
Average Trading Volume: 773,608
Technical Sentiment Signal: Buy
Current Market Cap: A$34.58M
Learn more about CBE stock on TipRanks’ Stock Analysis page.