Australia's Cobre soars on JV deal with BHP unit

Cobre

23/09/2024 02:25

** Shares of Cobre Ltd  CBE.AX  climb as much as 21.9% to
A$0.078, set for best day since late January - if current gains
hold 
    ** Diversified miner says it has signed a letter of intent
with a unit of BHP Group  BHP.AX  for a joint venture deal to
explore copper and silver deposits in Botswana 
    ** Shares hit highest since mid-June 
    ** About 3.9 mln shares change hands, 11.1 times the 30-day
average volume of 349,356 shares 
    ** Including day's moves, stock has risen ~61.4% this year

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))