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Cobre Ltd (ASX:CBE)

ALERT: Price-sensitive ASX Announcement for CBE
Current share price for CBE : $0.360 0.2 (125%)+
Announcement
Release
12 Feb 2026 1:05PM
Price at Release
$0.160
Full Release
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Summary
Cobre Ltd announced plans to raise A$60 million through a placement of 400 million shares at A$0.15 each to fund its acquisition of a 51% interest in the Sierra Atacama Copper Project in northern Chile. The project, which includes an operating underground mine, presents a transformative opportunity for Cobre, transitioning the company from a developer to a copper producer. The funds will be allocated towards the acquisition, capital expenditure, and a drilling program for new and existing assets. Additionally, existing shareholder Tribeca Investment Partners is supporting the placement, and Cobre is introducing a number of new institutional investors. The company also plans to issue performance rights as part of a newly adopted equity incentive plan.
Key Points
  • Cobre Ltd plans to raise A$60 million through the issuance of 400 million fully paid ordinary shares at A$0.15 each.
  • The funds are intended for acquiring a 51% interest in the Sierra Atacama Copper Project in Chile.
  • This project includes an operational underground mine producing approximately 400 tons of copper cathode monthly.
  • Cobre's existing major shareholder, Tribeca Investment Partners, is a cornerstone investor in the placement.
  • The acquisition is seen as transformative, moving Cobre from explorer-developer to producer status.
  • Plans include expansion to large-scale open-pit mining and leveraging existing infrastructure.
  • The project has tremendous potential for exploration due to its proximity to major copper discoveries.
  • Cobre proposes to issue 56 million performance rights as part of an equity incentive plan.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.