Australia's Cobre jumps after signing agreement with Sandfire resources

Cobre

14/12/2022 24:38

** Shares of Australia's Cobre Ltd  CBE.AX  rise as much as
20% to A$0.210 - set to mark best day since Dec 5, if gains hold
    ** Mineral explorer announces signing of collaboration
agreement with Sandfire Resources  SFR.AX   
    ** Says they will carry out collaborative airborne (AGG)
gravity gradient survey over its Ngami, Kitlanya west & east
copper projects in Botswana
    ** Says AGG survey over project areas will cost a total of
A$877,800 ($600,590.76) and Sandfire will contribute 50%
    ** In return, Sandfire will have right to use Cobre's data
for the purpose of studying basin-scale geology at its Kalahari
copper belt project   
    ** CBE stock hits highest level since Dec 6  
    ** CBE had risen 86.2% this year, as of last close
($1 = 1.4616 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))