Australia's Cobre gains on $2.61 million Tribeca investment

Cobre

17/11/2025 03:36

** Shares of Cobre CBE.AX rise as much as 11.4% to A$0.10, their highest level since October 31

** Stock heads for best day in a week, if current gains hold

** Copper explorer receives A$4 million ($2.61 million) from Tribeca Investment Partners for 40 million shares in co

** Issue price of A$0.10 per share marks an 8.7% premium to stock's last close

** Proceeds to be used to commence well field development and further exploration at the Ngami Copper project in Botswana

** Stock up 90.2% YTD, including day's moves

($1 = 1.5337 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))