Quarterly Activities and Cashflow Reports
Sydney, April 30, 2021 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) is pleased to provide the following update on its activities for the quarter ended 31 March 2021.
HIGHLIGHTS
Gabon:
- Signing of an Investment Agreement with Armada Exploration Limited who holds exploration licenses prospective for magmatic Ni-Cu sulphide situated in Gabon.
Botswana:
- Identification of Priority Copper Targets.
Subsequent to Quarter's End:
- Shareholder approval received to complete the acquisition of a controlling interest in Kalahari Metals Limited;
- Successful Raising of A$6.7m for Botswana Exploration; and
- Drilling to Commence in Botswana.
During the quarter, the Company's focus continued to be on diversification through the signing of an Investment Agreement (Agreement) with Armada Exploration Limited (Armada), a Mauritian holding company, that owns 100% of Armada Exploration (Gabon) SARL, which is the owner of two exploration licences prospective for magmatic Ni-Cu sulphide situated in Gabon (figure 1*). Covering a total area of nearly 3,000km2, the licence holding presents a frontier district-scale exploration opportunity.
The Company also completed the first stage of its acquisition of a controlling interest in Kalahari Metals Limited (KML), a copper exploration JV company in the highly prospective Kalahari Copper Belt (KCB) in Botswana, following the approval of shareholders at the Extraordinary General meeting held subsequent to the end of the quarter on 6 April 2021.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/PKZ7422T
About Cobre Limited
Cobre Limited (ASX:CBE) is a copper and base-metals explorer with projects in Western Australia and Botswana. The Company recently discovered a new high-grade VMS deposit enriched in Copper, Gold, Zinc and Silver in Western Australia, and is currently exploring approximately 8,100 km2 of tenements within the Kalahari Copper Belt (KCB) in Botswana.
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