https://www.miningweekly.com
Botswana|Copper|Exploration|Proximity
Botswana|Copper|Exploration|Proximity
botswana|copper|exploration|proximity

Cobre raises cash for Botswana exploration

15th April 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior copper and base metals explorer Cobre has raised A$6.7-million to fund exploration costs at its joint venture (JV) with Metal Tiger, in Botswana.

The ASX-listed company raised an initial A$5.3-million under a first tranche share placement, priced at 17c a share.

More than 18.5-million shares were placed under in the first tranche under the company’s existing placement capacity.

A second tranche placement would be made to JV partner and shareholder Metal Tiger, to raise a further A$1.4-million, subject to shareholder approval. The second tranche placement of more than 8.3-million shares would allow Metal Tiger to retain its 21% interest in Cobre.

The placement price represented a 12.8% discount to Cobre’s last closing price, and a 16.8% discount to the company’s five-day volume weighted average share price.

Cobre holds a 51% stake in exploration vehicle Kalahari Metals (KML), which controls some 8 100 km2 of tenements within the Kalahari copper belt, in Botswana. The tenement holdings are in close proximity to ASX-listed Sandfire’s T3 and A4 copper deposits.

Edited by Creamer Media Reporter

Comments

Latest News

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.053 0.085s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: