Welcome to our dedicated page for Cordoba Minerals news (Ticker: CDBMF), a resource for investors and traders seeking the latest updates and insights on Cordoba Minerals stock.
Cordoba Minerals Corp. (OTCQB: CDBMF; TSXV: CDB) is a mineral exploration company focused on copper and gold projects, and its news flow reflects this focus on project advancement and corporate transactions. The company’s public announcements highlight its joint development of the Alacrán Project in the Department of Cordoba, Colombia, together with JCHX Mining Management Co., Ltd., and its 51% interest in the Perseverance Copper Project in Arizona, USA, which is being advanced through a Joint Venture and Earn-In Agreement.
News releases for Cordoba commonly cover developments related to the Alacrán Project, including framework agreements with JCHX and Veritas Resources AG, staged payments under strategic arrangements, and efforts to complete a proposed sale of the company’s remaining 50% interest in the project along with other Colombian exploration assets and certain accounts receivable. Investors following CDBMF can also see updates on regulatory milestones such as Environmental Impact Assessment approvals, conditional and final approvals from the TSX Venture Exchange, and shareholder meeting outcomes.
Corporate governance and financing developments are another recurring theme in Cordoba’s news. The company reports on annual general meeting results, director elections, stock option plan approvals, and changes to its board and senior management team. It has also disclosed bridge financing arrangements with affiliates of JCHX and the repayment of these loans using proceeds from installment payments under its framework agreements.
This news page aggregates Cordoba’s project updates, transaction progress, shareholder resolutions, and financing announcements in one place, allowing readers to review how the company describes the evolution of its copper and gold exploration portfolio over time.
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.
Cordoba Minerals Corp. (TSXV: CDB, OTCQB: CDBMF) announced on June 27, 2024, that all Directors nominated in the Management Information Circular dated May 15, 2024, were elected at the Annual General Meeting of Shareholders held on June 26, 2024. Shareholders set the number of Directors at seven for the forthcoming year. New appointments to the Board include Mr. Jordan Neeser as a non-independent director and Mr. Terry Krepiakevich as an independent director. Ms. Sarah Armstrong-Montoya, President and CEO, highlighted the valuable experience and insights these new directors bring to the company, especially in advancing the Alacran Project into an operating copper mine. The company aims to solidify its reputation as a mine developer and soon-to-be operator in the mining sector.
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