Business
Cobre Limited (ASX:CBE) Quarterly Activities and Cash Flow Report
Cobre Limited (ASX:CBE) Quarterly Activities and Cash Flow
About this update from Cobre Limited
Sydney, Australia, July 29, 2026 - (ABN Newswire) - Cobre Limited (ASX:CBE) is pleased to provide its Quarterly Activities Report for the three months ended 30 June 2026 (the "Quarter"). The Quarter marked Cobre's transition to a copper producer, with the Sierra Atacama Copper Project in northernChile delivering its first consecutive months of positive operating cash flow, alongside continued partner-funded exploration progress across the Company's Botswana portfolio in the Kalahari Copper Belt. HIGHLIGHTS Sierra Atacama Copper Project (Chile) - Positive operating cash flow in each month of the Quarter - the operation generated positive operating cash flow for the Quarter of US$1.618 million, its first consecutive cash-flow-positive months, achieved within weeks of Cobre assuming operational control (unaudited management accounts). - Copper cathode production of 879 tonnes for the Quarter, with leach recovery improving to 76% in June - the highest level achieved. The mine stabilisation plan at 400t, with a ramp-upschedule initially to 500-700t by Dec 2026, is on track. - Financing liabilities reduced by approximately US$9.4 million since Cobre took management control, supported by an active debt-settlement and supplier-reset programme. It is anticipated that the Company will clear its historical liabilities by the September quarter. - A reset of the supplier relationship was achieved in a short space of time, with all key supplies now under contract, further de-risking the production plan. -~40,000 m drilling programme, focused on resource expansion and testing the underlying high-grade sulphide system initiated. - Several work streams are in progress to convert the current NI43-101 foreign estimate to a JORC-compliant resource. - Additional 6,820 ha of exploration concessions secured immediately adjacent to Sierra Atacama, expanding Cobre's district-scale footprint. Botswana (Kalahari Copper Belt) - Cobre has signed a collaboration agreement with Equinor, a Norwegian multinational energy company to evaluate lixiviant performance and in-situ copper recovery (ISCR) parameters for Cobre's 100%-owned Ngami Copper Project ("NCP"). - Commissioning of the NCP ISCR well field commenced; Cosmos drilling confirmed continuity of copper-silver mineralisation over 800 m of strike, with higher-grade zones (>1% Cu) in every hole. - Partner-funded exploration continu...