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Cobre Limited (AU:CBE)
ASX:CBE
Australian Market

Cobre Limited (CBE) AI Stock Analysis

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AU:CBE

Cobre Limited

(Sydney:CBE)

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Neutral 55 (OpenAI - 5.2)
Rating:55Neutral
Price Target:
AU$0.16
▲(64.00% Upside)
The score is held down primarily by weak fundamentals—unstable/absent revenue, ongoing losses, and negative cash flow—despite a low-risk balance sheet with no debt. Technicals are a key positive, with the stock in an uptrend and supportive momentum, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low leverage / No debt
Zero reported debt across multiple years materially reduces financial risk for an exploration company. This durable capital structure gives management flexibility to fund drilling or partner assets without immediate debt servicing, improving resilience through commodity cycles.
Growing equity base
A rising equity base strengthens the balance sheet and extends funding capacity for exploration programs. Durable capital cushion reduces short-term liquidity strain, lowers near-term refinancing pressure, and provides scope to pursue partnerships or staged project development.
Exposure to copper and battery metals
Strategic focus on copper and critical battery metals aligns the company with long-term structural demand drivers from electrification and infrastructure. As an exploration specialist, it can capture value if discoveries progress, making commodity exposure a durable strategic advantage.
Negative Factors
Minimal and unstable revenue
Intermittent or zero revenue undermines self-sustainability and makes operating plans highly dependent on external capital. Over a 2–6 month horizon this structural lack of sales limits the firm's ability to build predictable cashflows or validate progression toward development.
Persistent negative operating and free cash flow
Consistent operating and free cash outflows indicate the business is consuming capital to fund exploration rather than generating it. This persistent cash burn elevates the need for dilutive equity raises or partner financing, threatening long-term funding independence.
Ongoing losses & negative ROE
Negative returns on equity and recurring net losses show the company is not yet creating shareholder value. This structural profitability gap constrains reinvestment capacity and can impair investor confidence, making sustained capital access and strategic partnerships harder long term.

Cobre Limited (CBE) vs. iShares MSCI Australia ETF (EWA)

Cobre Limited Business Overview & Revenue Model

Company DescriptionCobre Limited engages in the exploration and evaluation of mineral properties. It explores for copper, gold, silver, and zinc deposits. The company holds 100% interest in the Perrinvale project covering an area of approximately 381 square kilometers of the Panhandle and Illaara Greenstone Belts in Western Australia; and an option to earn up to 80% interests in the Sandiman tenement covering an area of approximately 202 square kilometers located in Gascoyne Province, Australia. It also holds 51% interest in the Kalahari Copper Belt covering an area of approximately 5,026.9 square kilometers located in Botswana. The company was incorporated in 2018 and is based in Sydney, Australia.
How the Company Makes MoneyCobre Limited makes money primarily through the exploration and development of copper mining projects. The company's revenue model is centered around discovering and developing mineral resources, which are then sold or partnered with larger mining operators. Key revenue streams include the sale of mineral rights, joint venture agreements, and potential future income from mining operations. Strategic partnerships with other mining companies and stakeholders in the mining industry also contribute to its earnings by sharing the risks and costs associated with exploration and development activities.

Cobre Limited Financial Statement Overview

Summary
Overall financials are weak due to no stable revenue base, persistent operating/net losses, and continued negative operating and free cash flow (though cash burn improved in 2025). The balance sheet is a partial offset with zero debt and a growing equity base, but returns remain negative.
Income Statement
18
Very Negative
The company has not demonstrated a stable revenue base (revenue was 0 in 2023 and 2025, and modest in 2024), with the latest annual period showing a -100% revenue decline. Profitability is consistently weak: operating losses and net losses persist each year (2025 net loss of about -2.1M; 2024 net loss about -2.4M), indicating the business remains in an investment/burn phase. A positive offset is that losses have been broadly contained versus the much larger loss in 2022, but overall earnings quality and consistency remain low.
Balance Sheet
62
Positive
The balance sheet is a relative strength due to very low leverage: total debt is 0 in the last three annual reports (2023–2025) and the debt-to-equity ratio is effectively 0, reducing financial risk. Equity has also increased to ~35.9M in 2025 (from ~30.6M in 2024), supporting liquidity and funding capacity. The key weakness is value creation: returns on equity are negative across all years (e.g., ~-5.9% in 2025), reflecting ongoing losses despite a solid capital base.
Cash Flow
24
Negative
Cash generation remains pressured, with operating cash flow negative every year (about -2.0M in 2025) and free cash flow also negative (about -2.1M in 2025). Free cash flow improved materially in 2025 versus 2024 (less cash burn than the roughly -6.6M in 2024), but the business is still consuming cash rather than funding itself. Overall, cash flow visibility and self-sustainability appear limited until revenue and operating performance stabilize.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.00758.60K0.0025.70K
Gross Profit-26.11K-26.11K758.60K-1.40K-1.34K-1.50K
EBITDA-2.22M-2.10M-1.63M-1.45M-1.46M-2.69M
Net Income-2.12M-2.12M-2.39M-1.74M-5.39M-2.75M
Balance Sheet
Total Assets42.70M42.70M31.51M31.50M18.68M18.26M
Cash, Cash Equivalents and Short-Term Investments4.59M4.59M980.63K5.76M2.73M8.15M
Total Debt0.000.000.000.001.88M532.06K
Total Liabilities6.80M6.80M928.24K726.59K2.28M1.21M
Stockholders Equity35.90M35.90M30.58M30.77M12.88M17.05M
Cash Flow
Free Cash Flow-4.58M-2.12M-6.64M-9.98M-2.28M-3.33M
Operating Cash Flow-2.01M-2.01M-1.34M-2.06M-1.20M-1.17M
Investing Cash Flow-5.74M-5.74M-5.61M-9.58M-5.62M-3.07M
Financing Cash Flow11.35M11.35M2.16M14.67M1.41M5.21M

Cobre Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.10
Price Trends
50DMA
0.12
Positive
100DMA
0.10
Positive
200DMA
0.07
Positive
Market Momentum
MACD
0.01
Negative
RSI
59.80
Neutral
STOCH
75.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CBE, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.12, and above the 200-day MA of 0.07, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 59.80 is Neutral, neither overbought nor oversold. The STOCH value of 75.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CBE.

Cobre Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
55
Neutral
AU$83.78M-31.37-6.39%37.04%
50
Neutral
AU$59.63M97.374.75%
48
Neutral
AU$41.22M-16.67-12.53%40.00%
47
Neutral
AU$13.60M-5.71%16.67%
41
Neutral
AU$20.80M-16.67-43.49%-7.14%
28
Underperform
€15.78M-5.26-11.76%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CBE
Cobre Limited
0.16
0.11
220.00%
AU:ADY
Admiralty Resources NL
0.01
0.00
0.00%
AU:BCA
Black Canyon Limited
0.37
0.31
469.23%
AU:AHN
Athena Resources Limited
AU:VRC
Volt Resources Ltd
0.01
0.00
0.00%
AU:ACP
Audalia Resources Limited
0.03
<0.01
25.00%

Cobre Limited Corporate Events

Cobre Limited Seeks ASX Quotation for 1.79 Million New Shares
Jan 30, 2026

Cobre Limited has applied to the Australian Securities Exchange for quotation of 1,792,863 new fully paid ordinary shares, to be issued under the company’s existing ASX code CBE on 30 January 2026. The additional securities, arising from the exercise or conversion of existing options or other convertible instruments, will expand Cobre’s quoted share capital and may modestly increase trading liquidity, though the announcement provides no further operational or strategic details for investors or other stakeholders.

The most recent analyst rating on (AU:CBE) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Cobre Limited stock, see the AU:CBE Stock Forecast page.

Cobre Secures Funding and Permitting Milestones to Advance Botswana Copper Projects
Jan 28, 2026

Cobre Limited raised a total of A$5.5 million through strategic placements to Sinomine International Exploration and Tribeca Investment Partners to fund follow-up diamond drilling at its Okavango Copper Project and to accelerate development work on the Ngami In-Situ Copper Recovery Project in Botswana. During the quarter, the company reported encouraging copper intersections at the Cosmos Target near the Comet Deposit, advanced seismic surveys at Ngami and Kitlanya as part of its collaboration with BHP, and secured environmental approval from Botswana’s Department of Environmental Protection for the scope of an Environmental Impact Assessment tied to an ISCR pilot plant, collectively marking a significant step toward de-risking and potentially fast-tracking its Botswana copper portfolio.

The most recent analyst rating on (AU:CBE) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Cobre Limited stock, see the AU:CBE Stock Forecast page.

Cobre Limited Seeks ASX Quotation for Additional Ordinary Shares
Jan 23, 2026

Cobre Limited has applied to the ASX for quotation of 147,032 new fully paid ordinary shares under its existing ticker CBE, expanding its listed share capital. The additional securities, issued on 23 January 2026 following the exercise or conversion of existing instruments, slightly increase the company’s free float and may marginally enhance liquidity for shareholders without indicating a broader change in strategy or operations.

The most recent analyst rating on (AU:CBE) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Cobre Limited stock, see the AU:CBE Stock Forecast page.

Cobre Advances Ngami Copper Project With Start of ISCR Wellfield Construction
Jan 20, 2026

Cobre Limited has begun construction of an In-Situ Copper Recovery (ISCR) production wellfield at its wholly owned Ngami Copper Project in Botswana, marking the first stage of a planned ISCR demonstration plant that will underpin resource drilling and feasibility work ahead of potential commercial development. The wellfield, comprising multiple vertical and horizontal injection-recovery wells linked to an advanced telemetry and monitoring system, is designed to test hydraulic control, optimise well configurations, and gather detailed operational data, thereby de-risking the project, supporting environmental approvals, enabling potential depth extensions of recoveries, and moving the Comet Deposit closer to scalable ISCR-based copper-silver production.

The most recent analyst rating on (AU:CBE) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Cobre Limited stock, see the AU:CBE Stock Forecast page.

Cobre Limited Seeks ASX Quotation for 390,385 New Ordinary Shares
Jan 14, 2026

Cobre Limited has applied to the ASX for quotation of 390,385 new fully paid ordinary shares, issued on 13 January 2026, under its CBE ticker. The additional securities result from the exercise or conversion of existing options or other convertible securities, modestly increasing the company’s free float and potentially enhancing liquidity for shareholders without indicating any broader operational or strategic shift.

The most recent analyst rating on (AU:CBE) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Cobre Limited stock, see the AU:CBE Stock Forecast page.

Cobre Director Michael Addison Increases Indirect Shareholding via On-Market Purchase
Dec 22, 2025

Cobre Limited has disclosed a change in the indirect shareholding of director Michael Addison, who holds his interest via the Danawa (Inv) Pty Ltd and the Rivonia Pty Limited ATF . The company reported that Addison acquired 472,622 Cobre shares on-market on 22 December 2025 at an average price of $0.092 per share, increasing his indirect shareholding to 6,622,623 shares while his existing options positions across both entities remain unchanged, signalling a modest vote of confidence by the director in the company’s equity without altering its capital structure.

Cobre Limited Enhances Market Position with New Securities Issuance
Dec 12, 2025

Cobre Limited announced the issuance of 919,231 fully paid ordinary securities on December 12, 2025, as part of its strategy to enhance liquidity and shareholder value. This move is expected to strengthen the company’s financial position and potentially increase its market competitiveness, benefiting stakeholders by providing more opportunities for investment and growth.

Cobre Limited Announces Quotation of New Securities on ASX
Dec 7, 2025

Cobre Limited has announced the quotation of 8,750,000 fully paid ordinary securities on the Australian Securities Exchange (ASX) as part of a previously announced transaction. This move is expected to strengthen the company’s capital base and support its strategic initiatives in the mining industry, potentially impacting its market positioning and stakeholder interests.

Cobre Limited Announces Quotation of New Securities on ASX
Dec 1, 2025

Cobre Limited has announced the quotation of 1,830,102 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of December 1, 2025. This move is part of the company’s strategy to enhance its capital structure and potentially increase its market presence, signaling a positive development for stakeholders and investors interested in the mining sector.

Cobre Limited Announces Director’s Change in Securities Interest
Nov 28, 2025

Cobre Limited has announced a change in the interests of its director, Michael Addison, in the company’s securities. The change involves the acquisition of 1,000,000 options exercisable at $0.1575 each, expiring on 28 November 2029, approved by shareholders at the company’s AGM. This adjustment in director’s interests may influence the company’s governance and shareholder dynamics, reflecting strategic decisions made in the recent AGM.

Cobre Limited Completes Share Issuance for Capital Raising
Nov 27, 2025

Cobre Limited has issued 40,000,000 ordinary shares at $0.10 per share as part of a capital raising initiative announced earlier in November 2025. This move is in compliance with relevant sections of the Corporations Act 2001, and the company has confirmed there is no excluded information that needs to be disclosed, indicating a transparent financial operation. This capital raising is likely to impact Cobre’s financial standing and market operations positively, potentially enhancing its exploration and development capabilities.

Cobre Limited Expands Drill Program at Ngami Copper Project Following Promising Results
Nov 23, 2025

Cobre Limited announced promising early results from its Cosmos Target drill program at the Ngami Copper Project in Botswana, indicating a potentially extensive high-grade copper and silver zone. The results have led to an expansion of the drill program to further assess the continuity and economic viability of the mineralization, which could enhance the company’s operational prospects and industry positioning.

Cobre Limited Expands Seismic Survey in Botswana’s Kalahari Copper Belt
Nov 17, 2025

Cobre Limited has extended its seismic survey to include the Ngami Copper Project (NCP) in Botswana, adding 37km to the ongoing 186km survey funded by BHP. This extension aims to enhance understanding of copper-silver mineralization and identify new potential deposits, with BHP funding the survey up to US$200k. The survey’s results are expected to provide valuable insights into geological and structural controls, potentially impacting Cobre’s operations and positioning in the copper mining industry.

Cobre Limited Announces Proposed Securities Issuance
Nov 17, 2025

Cobre Limited has announced a proposed issuance of securities, which includes 40,000,000 unlisted options and 40,000,000 ordinary fully paid shares. This move is part of a placement or another type of issue, with the proposed issue date set for November 18, 2025. The announcement indicates a strategic effort by Cobre Limited to potentially raise capital or expand its shareholder base, which could impact its market positioning and stakeholder interests.

Cobre Limited Secures Strategic Investment to Advance Ngami Copper Project
Nov 17, 2025

Cobre Limited has secured a strategic investment of A$4 million from Tribeca Investment Partners to accelerate the development of its Ngami In-Situ Copper Recovery Project in Botswana. This investment will fund well-field development and further exploration, positioning Cobre as a potential upcoming copper producer in the Kalahari Copper Belt. Tribeca will also serve as a strategic advisor for copper offtake and debt funding, enhancing Cobre’s operational capabilities and market positioning.

Cobre Limited Initiates Trading Halt for Strategic Placement Announcement
Nov 13, 2025

Cobre Limited has requested a trading halt on its securities pending an announcement regarding a strategic placement. This halt will last until the announcement is made or until normal trading resumes on November 18, 2025. The decision is aimed at ensuring fair trading conditions and transparency for stakeholders.

Cobre Limited Announces Quotation of New Securities on ASX
Nov 3, 2025

Cobre Limited announced the quotation of 190,103 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 3, 2025. This move is part of the company’s strategy to leverage convertible securities, potentially impacting its capital structure and offering new opportunities for stakeholders in the mining industry.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 31, 2026