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Cobre acquires Triprop Holdings

Cobre has strengthened its position in Botswana with the acquisition of Triprop Holdings. The firm announced completion of the issuance of 3,001,300 shares to various non-related parties of Triprop Holdings to move to 100% ownership of Triprop.

Triprop is the registered license tenement holder for Cobre’s Ngami Copper Project as well as the northern portion of the Okavango Copper Project in Botswana. Consequently, this move makes Triprop a wholly-owned subsidiary of Kalahari Metals Ltd, which in turn is a subsidiary of Cobre. Cobre initially increased its ownership from 51% to 80% in November 2022. The newly issued shares are subject to a 12-month escrow period, which will expire on February 24, 2024.

Solid progress

“This is another positive outcome for Cobre to have 100% control of all its subsidiary entities and projects including the Ngami Copper Project, which sits on the prospective northern margin of the Kalahari Copperbelt in Botswana.The company has had a strong start to the year with solid progress on the 5,000-metre diamond drill program at Ngami with approximately 3,000 metres of drilling completed ahead of schedule. Drill testing of new targets surrounding Comet is nearly complete and the program will now focus on testing for further high-grade zones of copper-silver mineralisation at Comet following encouraging results from orientation soil and geophysical surveys. We look forward to updating the market with results from this important phase of work at the end of the program when assay results have been completed,” said Cobre’s Chief Executive Officer, Adam Wooldridge.

 

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