Cordoba Minerals Stock Price, News & Analysis

Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) announced significant management changes on May 9, 2025. Mark Gibson has resigned from his positions as Chief Operating Officer and Director of the Company, concluding his 10-year tenure. Gibson will not stand for election at the upcoming annual general meeting scheduled for June 9, 2025. The company clarified that previously submitted proxy votes for other board nominees and resolutions remain valid, though votes regarding Gibson's election will be disregarded.

Cordoba Minerals (CDBMF) has announced a transformational deal to sell its remaining 50% stake in the Alacran Project and other Colombian assets to Veritas Resources AG for US$88 million in immediate cash, plus potential additional payments of up to US$40 million. The transaction includes a deferred payment of US$12 million payable upon commercial production or within 36 months, and a contingent payment of US$8-28 million based on copper prices. Veritas, currently owned by JCHX (19.81% Cordoba shareholder), will be controlled by a mining investor consortium with JCHX retaining 55%. Cordoba plans to distribute US$65-70 million to shareholders within six months of closing, retaining US$5 million for corporate purposes. The deal requires TSX Venture Exchange approval, shareholder approval, and Environmental Impact Assessment approval, with closing expected by December 2025.

Cordoba Minerals Corp (TSXV: CDB) (OTCQB: CDBMF) has announced significant changes to its leadership team. The company has appointed two new members to its Board of Directors: Mark Gibson and Glen Kuntz.

Gibson, currently Ivanhoe Electric's Chief Geophysics Officer, brings over 33 years of experience as a geoscientist and manager. He has been Cordoba's Chief Operating Officer since 2017 and played a important role in the Alacran Project Feasibility Study.

Kuntz, serving as Ivanhoe Electric's Senior Vice President of Mine Development since November 2022, contributes over 30 years of expertise in exploration, development, and operations. He has been significantly involved in the Alacran Project's technical work.

The company also announced that Gustavo Zulliger has stepped down from his position as Vice-President of Exploration to pursue other opportunities.

Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) has received a US$10 million bridge financing from affiliates of its joint venture partner, JCHX Mining Management. The financing consists of two US$5 million loans advanced to Cordoba and the joint venture entity holding the Alacran Copper-Gold-Silver Project in Colombia.

The bridge loans will support the company's mineral projects advancement, particularly the detailed engineering design work program at the Alacran Project, and general corporate purposes. The company aims to progress the Alacran Project towards the construction phase while maintaining stakeholder engagement.

Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) has secured US$10 million in bridge financing from JCHX Mining Management Co., The financing consists of two US$5 million loans, one directly to Cordoba and another to the joint venture entity holding the Alacran Copper-Gold-Silver Project in Colombia. The Bridge Loans carry a 10% annual interest rate for the first six months, increasing to 12% thereafter. The loans mature in 36 months or when JCHX's third US$20 million installment becomes due under their US$100 million strategic arrangement. The funds will support the advancement of mineral projects, including detailed engineering design work at Alacran Project, and general corporate purposes.

Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has announced the granting of equity incentive awards. The Board of Directors has approved a total of 709,823 common shares in the form of 256,529 stock options and 453,294 deferred share units (DSUs) to certain directors.

The stock options are exercisable at $0.455 per common share with a vesting schedule of 1/3 on the grant date, 1/3 after six months, and the final 1/3 after one year. These options have a five-year expiration period. The DSUs will be redeemable upon the retirement or replacement of a director.

Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has received approval for its Mining Technical Work Plan (PTO) application for the Alacran Copper-Gold-Silver Project in Colombia. The approval, granted by the Colombian National Mining Agency (ANM) on August 27, 2024, marks a significant milestone towards the project's construction stage. The PTO is one of two required permits for mine construction licensing in Colombia.

CEO Sarah Armstrong-Montoya expressed satisfaction with the approval, highlighting it as a important step towards building the next copper-gold mine in Colombia. Construction is anticipated to commence in Q2 2025, subject to financing. The company submitted the PTO application in November 2021 and is now progressing towards full-speed development of the Alacran project.

Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has awarded US$19 million in detailed design engineering contracts for its flagship Alacran Project in Colombia. The contracts are distributed as follows:

- JCHX Mining Management Co., : US$15.8 million for processing and on-site facilities
- BBA: US$1.3 million for open-pit mine design
- Knight Piésold Consulting: US$1.9 million for waste and water management facility

The work program is set to begin in August 2024, with construction anticipated to start the following year. CEO Sarah Armstrong-Montoya expressed confidence in the selected engineering groups, citing their proven track records and familiarity with the Alacran Project.

Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has announced changes to its executive team. David Garratt has resigned as Chief Financial Officer (CFO) as of July 11th, 2024. Peter Portka has been appointed as the new CFO effective July 12th, while continuing his role as Vice President of Corporate Development.

Mr. Portka, who joined Cordoba in January 2024, brings extensive experience as a senior financial and corporate development executive in the mining sector. He previously served as CFO at NorZinc and Vice President of Finance at Quintana Resources Capital. Mr. Portka holds professional designations as a Chartered Financial Analyst and a Chartered Professional Accountant.

Sarah Armstrong-Montoya, President and CEO of Cordoba, expressed gratitude for Mr. Garratt's contributions and congratulated Mr. Portka on his new role.