Acquisition of Broken Hill Mines Pty Ltd by Coolabah Metals Limited (ASX:CBH)

Coolabah Metals Limited (ASX:CBH) has announced the acquisition of Broken Hill Mines Pty Ltd, including the Rasp Ag-Pb-Zn Mine and an option for a 70% profit sharing interest in the Pinnacles Mine. The acquisition aims to consolidate operational Rasp infrastructure with Pinnacles mineral resource base, bringing together two significant mining assets in Broken Hill, NSW. The transaction is subject to shareholder approval and re-compliance with ASX Listing Rules.

Executive Commentary on Restructuring and Key Appointments

Coolabah Metals Limited (CBH) is undergoing a significant restructuring to shift its focus from pure mineral exploration to development, extraction, and production. The company is reorganizing its board and key management personnel to reflect this strategic shift. The restructuring includes the appointment of new directors and the resignation of existing ones. Patrick Walta is proposed to be appointed as the Executive Chair, bringing with him extensive experience in the mining industry. Additionally, the company is seeking shareholder approval for various resolutions related to the restructuring, including the appointment of key personnel and changes in the company's activities and name.

Detailed Information on Broken Hill Mines Project and Corporate Structure

Coolabah Metals Limited has provided detailed information regarding the sampling and sub-sampling techniques, sample analysis methods, geological interpretation, estimation methodology, classification criteria, cut-off grades, mining, metallurgical and environmental assumptions, and competent person statements for its Broken Hill Mines project. The announcement includes information on the Pinnacles Mine and Rasp Mine, as well as corporate structure, indicative pro forma balance sheet, and transaction-based comparison table. The company has also provided details on its Australian and Canadian tenements.