Cobre Advances Botswana Copper Project as Market Rerates Company
“That’s an in-situ copper recovery method. We’ve got the same scale, higher grade, arguably a simpler hydrological setting,” said Adam Wooldridge, CEO of Cobre.
Cobre (ASX:CBE) CEO Adam Wooldridge says investor enthusiasm for the company has been driven by significant progress at its Ngami copper project in Botswana.
“Investors are starting to see it as a real development opportunity,” he said, noting that Cobre has achieved in-situ copper recoveries of between 30 and 80 percent through bench-scale metallurgical testing, producing “a high-quality copper cathode in a laboratory with a very low contaminant.”
In an interview with the Investing News Network, Wooldridge highlighted that the company’s recent resource update points to “200 to 300 million tonnes at close to half a percent copper,” which he said compares favourably with the Arizona-based Florence copper project.
“That’s an in-situ copper recovery method. We’ve got the same scale, higher grade, arguably a simpler hydrological setting,” he added.
Cobre is now moving toward environmental permitting for a pilot plant at Ngami, which will test in-situ recovery on the ground.
“We should have that done in about six months,” Wooldridge said.
Watch the full interview with Wooldridge above.
