IPO - Cobre Limited, page-5

I linked the CBE prospectus on another stock only yesterday and there were no comments on this ticker. Looks like some people are interested though.
http://www.cobre.com.au/wp-content/uploads/2019/12/Cobre_Prospectus_06Dec19.pdf

I'm looking closely at this as I have a couple of other stocks in the Panhandle and Illaara Greenstone Belts, one of which looks to directly abut the CBE ground. This area is getting some attention lately. Interestingly, this ground was owned by FMG previously.

"In March 2019, Cobre intersected very high-grade volcanogenic massive sulphide (VMS) base metal and gold mineralisation at shallow depth, including 5m at 9.8% copper, 3.2 grams per tonne (g/t) gold, 34g/t silver and 3.1% zinc.

Martin Holland - Executive Director: "I am pleased to announce that Cobre has discovered a VMS deposit within its Perrinvale Project area in the Panhandle Greenstone Belt of Western Australia. Discovering a high-grade VMS system enriched in copper, gold, silver and zinc from our maiden drill program is a credit to our technical & exploration teams. The mineralisation is open to the NNW and possibly down dip. More broadly, the potential exists for an extended VMS system across a large proportion of our tenements.

High-grade VMS systems are very rare globally, with the last significant deposit in Australia discovered more than a decade ago by Sandfire Resources (ASX:SFR)."
"
disallowed link/asx-gold-explorer-drilling-vms-deposits-prolific-wa-goldfields/
https://www.bloomberg.com/press-rel...e-high-grade-perrinvale-vms-copper-project-in

With 80% of Toucan, the private co. that owns Perrinvale, CBE will have a MC of $19m if they close subscriptions at the $10m.

Disclosure: hold DRE and TSC in the area. I'm still evaluating this IPO and not sure if I'll subscribe yet (assuming it's not already oversubscribed).