Cobre Limited announces successful capital raise

Cobre Limited (ASX:CBE) has successfully raised approximately A$4.6 million through a placement with institutional, sophisticated, and professional investors. This capital will support the advancement of their projects in Botswana and Western Australia, marking a significant step forward for the company.

Cobre Limited's strategic financial move

Cobre Limited has completed a capital raise of approximately A$4.6 million, aiding in the exploration and development of projects in Botswana and Western Australia. The placement was conducted at A$0.065 per share, divided into two tranches, with the second requiring shareholder approval. Major contributors included Strata Investment Holdings, company directors, and Mitchell Drilling Botswana. The funds will focus on accelerating projects in the Kalahari Copper Belt and Western Australia's quartz project. This financial boost reflects confidence in Cobre's strategic direction and aims to unlock substantial asset value.

Executive insights on capital raise

The successful capital raising will enable Cobre to accelerate its exploration and development initiatives across our key projects in Botswana and Western Australia, which is a critical step in unlocking the potential value of these assets.