Cobre has secured a cornerstone investment from AIM-listed Metal Tiger (LON: MTR) for a minimum of $2,000,000, following a technical due diligence process which was conducted by Metal Tiger in respect of the Perrinvale Project. It is expected that Metal Tiger will hold between 17.92% and 19.99% of the total Shares on issue upon Admission.
In addition to the Perrinvale Project, Cobre has secured an earn-in joint venture opportunity in the Sandiman Tenement, located in the Upper Gascoyne region of Western Australia, which, based on preliminary results, may have potential sediment hosted and VMS base metal deposits. The Company’s intended systematic approach towards exploration activities and unlocking potential deposits will be the Company’s focus moving forward.
It is anticipated that CBE will list on the ASX during January 2020.
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