Minister's Change of Control Approval for Kalahari Metals
Sydney, Dec 7, 2021 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) is pleased to advise that the Minister of Mineral Resources, Green Technology and Energy Security In Botswana has provided consent to the application for a change of controlling interest in Kalahari Metals Limited (KML).
As a result of the Minister's approval, Cobre's interest in KML will increase from its current level of 49.9% to a controlling interest of 51% upon the issue of the balance of the consideration shares to Metal Tiger plc (Metal Tiger) approved by shareholders pursuant to resolution 2 at the Extraordinary General Meeting of Cobre Shareholders held on 6 April 2021.
Cobre will now work to finalise the outstanding administrative steps including the transfer of the KML shares from Metal Tiger to Cobre and the issue of the final 445,368 consideration shares by Cobre to Metal Tiger.
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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