Yes, many investors may be drawn to names like BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA) and Woolworths Group Ltd (ASX: WOW). But these blue-chips are unlikely to keep growing quickly because of their size and how mature their markets already are.

The fund managers of listed investment company (LIC) WAM Active Ltd (ASX: WAA) have outlined two businesses that have promising outlooks.

WAM Active looks for mispriced ASX shares. Let's look at two of the latest businesses that were highlighted within the portfolio.

Dxn Ltd (ASX: DXN)

The first company that Wilson Asset Management (WAM) talked about was DXN, a prefabricated data centre manufacturer and operator, scaled across the Asia-Pacific region.

WAM noted that the DXN share price increased in August after the company announced a $4.1 million contract with Melbourne Airport to design, manufacture and commission a prefabricated edge data centre facility.

The fund manager also noted that DXN's FY26 result also highlighted a record order backlog of $40.9 million and growing demand for its artificial intelligence- ready modular data centre solutions.

DXN also secured its second AI high-performance computing contract, providing confidence in its growth outlook.

Overall, WAM believes that the ASX share is well-positioned to benefit from accelerating investment in AI infrastructure, supported by an expanding order book, increasing manufacturing capacity and a growing presence across the Asia Pacific region.

Cobre Ltd (ASX: CBE)

Cobre was the other ASX share that Wilson Asset Management mentioned from the WAM Active portfolio. WAM described Cobre as a global copper company focused on exploration and production in Chile's Atacama region and Botswana's Kalahari Copper Belt.

The fund manager noted that the Cobre share price rose strongly during the month after several positive corporate developments.

Pleasingly, the company was included in the MSCI Global Micro Cap Index, which is expected to enhance the ASX share's profile among international investors and support broader institutional ownership. Its inclusion took effect on 1 September 2026.

On 10 August, Rothschild & Co was appointed as a strategic advisor to further develop the company's capital markets positioning.

At the end of the month, Cobre also strengthened its position in the Sierra Atacama copper project by securing majority ownership and increasing its exposure to future production and cash flow.

Looking ahead, WAM continues to see value in Cobre, driven by its growing exposure to the Sierra Atacama copper project and multiple operational catalysts in the coming months.

Of course, these aren't the only ASX shares out there that could be great buys today.

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What did Cobre report?

• Became majority owner (62.86% stake) in the Sierra Atacama and Bergbau copper projects in Chile
• Completed USD $12 million capital raise via pro rata entitlement of new convertible non-voting shares
• Secured option to acquire 100% ownership of the Project Companies through the Final Option mechanism
• Sierra Atacama Copper Project moving towards increased copper cathode production into 2027

What else do investors need to know?

The conversion of preference shares and exercise of control options positions Cobre to take the reins at one of Chile's major copper developments. The pathway remains open for Cobre to consolidate full ownership in the Sierra Atacama and Bergbau projects, subject to the Final Option as previously disclosed.

Cobre's strategic timing aims to capitalise on rising long-term global copper demand, with supply constraints giving producers a potential advantage. The company's broader exploration portfolio could also uncover further resources and extend operational life.

What did Cobre management say?

Executive Chairman Martin Holland said:

Today marks a defining moment in Cobre's evolution. Securing majority ownership of the world-class Sierra Atacama Copper Mine positions Cobre at the heart of one of the most compelling long-term copper opportunities globally.

We are increasing our ownership to majority owner at precisely the right time. Global copper demand is entering an unprecedented period of structural growth, while supply is becoming increasingly constrained. Against this backdrop, Cobre is building a meaningful and growing copper production platform.

With Sierra Atacama ramping up our annual production of copper cathode into 2027, majority ownership provides Cobre with greater exposure to the significant operating and cash-flow upside from this growth.

At the same time, our exploration portfolio provides substantial additional upside, including the potential to unlock further resources and extend the scale and life of our operations.

We believe Cobre is entering a new phase — transitioning from an emerging copper producer into a substantial, growth-focused copper company. For our shareholders, this is a pivotal moment and one that we believe has the potential to create significant long-term value.

What's next for Cobre?

Cobre is now poised to ramp up copper production from the Sierra Atacama project into 2027. Management highlighted that majority control will help unlock both operational and cash-flow upside, as well as provide scope to pursue further growth and resource expansion.

Looking ahead, Cobre's focus is on strengthening its production platform, consolidating further ownership, and advancing exploration to grow its resource base and extend mine life. The company's strategy is to transition from a junior producer to a significant force in the copper industry.

Cobre share price snapshot

Over the past 12 months, Cobre shares have soared more than 700%, strongly outperforming the All Ordinaries Index (ASX: XAO).

View Original Announcement

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The ASX copper stock has returned from a trading halt, and investors have not exactly rushed back in.

At the time of writing, the Cobre share price is down 10.61% to 29.5 cents.

Even after today's fall, Cobre shares are still up 195% since the start of 2026 and around 640% over the past year.

Here's what the company revealed.

$90 million placement completed

According to the release, Cobre has received firm commitments to raise $90 million before costs through a two-tranche placement.

The company will issue around 300 million new shares at 30 cents each to institutional, sophisticated, and professional investors.

The first tranche is expected to raise about $72 million, while the second tranche is expected to raise a further $18 million.

However, the second tranche will need shareholder approval at an extraordinary general meeting, which is expected to be held in late August or early September.

Cobre said the raising was strongly supported by new and existing shareholders, including global resources specialists and domestic and offshore investors.

Two of its major shareholders, Tribeca Investment Partners and Strata Investment Holdings, helped cornerstone the raising.

Cobre directors are also planning to take part, with board members committing a combined $200,000, subject to shareholder approval.

Where the money is going

A big chunk of the raising is being directed towards Cobre's Sierra Atacama Copper Project in Chile.

Cobre said the money will go towards increasing its stake in the project, repaying debt, upgrading the plant, and funding more drilling.

The company has set aside $29 million for plant upgrades and other development costs at Sierra Atacama.

Another $26 million is expected to go towards debt repayment, while $17 million will be used to increase Cobre's ownership in the project.

Cobre also plans to spend $17 million on Sierra Atacama exploration, including resource, near-mine, and high-grade sulphide drilling.

Why are Cobre shares falling?

The selling pressure appears to be coming from the terms of the capital raising.

Cobre priced the placement at 30 cents per share, which is a 9.1% discount to its last close of 33 cents on 6 July. It is also below the 10-day volume weighted average price of 32.8 cents.

Furthermore, the raising will add a large number of new shares.

If both tranches are completed, Cobre will issue around 300 million new shares, adding to the 966 million shares it already has on issue.

After such a strong run over the past year, the discounted placement and extra shares were always going to weigh on the stock.

The next things to watch are the shareholder vote on the second tranche and the next round of work at Sierra Atacama.

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The Cobre share price is up by 112.2% to 8.7 cents per share at the time of writing. The ASX mining stock closed at 4.1 cents yesterday.

Meantime, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.6%.

What's the big news for this ASX mining stock?

The junior copper exploration company has been selected by BHP Group Ltd (ASX: BHP) to participate in the mining giant's 2024 Xplor program.

BHP created the Xplor program to help young companies in the critical minerals space accelerate their operations and potentially establish a long-term partnership with the mining giant.

Xplor runs for six months, during which time BHP will give Cobre US$500,000 in non-dilutive funding, as well as access to its internal expertise and global network of suppliers, to advance its exploration activities.

Cobre will use the money to accelerate its Kitlanya West Project in Botswana.

The ASX mineral explorer controls approximately 5,348 square kilometres of tenements within the Kalahari Copper Belt (KCB). The KCB is one of the world's most prospective areas for copper.

At the conclusion of the Xplor program period, Cobre is under no obligation to partner with BHP.

What did management say?

Cobre said the funds would be spent progressing targets that the company thinks may host tier-one copper-silver deposits.

It looks like BHP has confidence in Kitlanya West. Cobre announced "encouraging new targets" at the site in November. Drilling results led to an increased estimate of the target size to 4 km x 1.2 km.

Part of the Xplor deal is the option for BHP to retain certain pre-emption rights at Kitlanya West for 12 months after the program ends.

Cobre CEO Adam Wooldridge said:

The Xplor program provides us with a unique opportunity to partner with BHP experts to further our Kalahari Copper Belt targeting criteria and exploration programs.

We're delighted to have successfully made it through the rigorous selection process, which is a great accolade for the technical merits of our team and exploration projects.

We're looking forward to participating in the program and developing priority targets where the Xplor funding will provide further value for our shareholders.

What else is Cobre working on?

Cobre is also working on its Perrinvale project in the Panhandle Greenstone Belt of Western Australia.

It has discovered a globally rare VHMS deposit enriched in high-grade copper, gold, silver, and zinc.

Sandfire Resources Ltd (ASX: SFR) discovered Australia's last significant VHMS deposit more than a decade ago.

Share price snapshot for this ASX mining stock

The ASX mining stock was listed on the ASX in early 2020 at 20 cents per share.

Here is its history:

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Shares in Globe Metals & Mining Ltd (ASX: GBE), Cobre Ltd (ASX: CBE), and Walkabout Resources Ltd (ASX: WKT) are all outperforming the index today.

Let's take a look at what these three companies announced to the market.

Globe Metals & Mining

Globe Metals and Mining shares are surging 13% today to 9.5 cents. However, in earlier trade, the company's share price rocketed nearly 31% to 11 cents. In today's news, Globe revealed it has entered a mining and development agreement with the Malawi government to develop the Kanyika Niobium Project. Globe described this development as a "significant milestone in Globe's history". Chair Alice Wong said:

With this ultimate approval and final agreement in place, all parties concerned can now focus their efforts and resources on making the Kanyika Project the first niobium mine in Africa and Globe the first new niobium producer in over 50 years.

Cobre

Cobre shares soared nearly 24% today, hitting an intraday high of 13.5 cents a share. The company's share price has since settled at 12 cents, up 14.3%. Cobre is exploring metals including copper and silver in Botswana and Western Australia.

Today, the company advised of a 'Change of Director's Interest' indirectly involving director Martin Holland. Holland International Pty Ltd has acquired 700,000 new shares at a value of $71,225.73. Yesterday, Cobra announced soil sampling and preparation for aircore drilling is underway at the company's Kitlanya West Project in Botswana.

Walkabout Resources

Walkabout Resources shares are up 4.55% in late afternoon trading to 11.5 cents apiece. That's after the company's share price lifted 18% to 13 cents a share earlier today. Walkabout announced today it has signed a term sheet for an up to US$25 million senior debt facility to complete construction of the Lindi Jumbo graphite mine in Tanzania.

Commenting on the news, CEO Andrew Cunningham said:

It is pleasing to know that the Lindi Jumbo Project will be funded through to production.

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The Cobre Ltd (ASX: CBE) share price rocketed 46.7% this morning from 15 to 22 cents before pulling back. The company's share price finished the day at 18 cents, a 20% jump on Thursday's closing price.

Let's take a look at what this ASX mining share reported to the market today.

Cobre share price soars on copper discovery

Cobre discovered a high-grade copper zone at the comet target at the Ngami project. This is located in the Kalahari Copper Belt in Botswana.

Drill hole NCP20A intersected with a 45m zone of visible copper mineralisation.

Visual estimates revealed "significant mineralisation" at the lower 30m of the zone.

This grew in abundance from about 0.6% to 1% chalcocite at the top of the zone to more than 10% chalcocite at the base of the zone.

Cobre said the results prove high-grade zones are present within the comet target. These resemble other known deposits within the Kalahari Copper Belt.

Commenting on the results that boosted the ASX mining share today, executive chairman and managing director Martin Holland said:

Cobre is delighted with the latest copper discovery intersection which has both the
thickness and grade to move the economics on the Comet Target.

Importantly, these results provide further evidence for the team's current exploration model by demonstrating that high-grade zones of mineralisation occur along this extensive target.

Holland highlighted the company has been "moving rapidly" to drill the potential of this new copper district.

Cobre share price snapshot

Cobre shares have soared 89% in the past year, while they have gained 91% year to date.

For perspective, the ASX 200 Materials Index has gained 1.68% in a year.

This ASX mining share has a market capitalisation of about $36.7 million based on the current share price.

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The share prices of FELIX Gold Ltd (ASX: FXG), Venture Minerals Ltd (ASX: VMS), and Cobre Ltd (ASX: CBE) are all soaring. For perspective, the ASX 200 Resources Index is 2.65% at the time of writing.

Let's take a look at why these ASX resources shares are shooting ahead today.

Felix Gold

The Felix Gold share price is surging 18% today. ASX 200 gold share Evolution Mining Ltd (ASX: EVN) is also up 2.44% in late afternoon trading, while Newcrest Mining Ltd (ASX: NCM) is 1.54% higher. Felix Gold is exploring the Fairbanks Gold Mining District of Alaska, US. Recently, Felix advised RC drilling is complete across 131 holes at the Treasure Creek Project. With assay results returned for just nine of the 131 RC holes so far, the company said there is a "strong news flow pipeline". Managing director and CEO Joe Webb said:

We now have a big pipeline of RC drill assays to flow over coming months and are excited to have commenced diamond drilling at Treasure Creek to test potential depth extent and target zones at depth, including the key Eastgate IP target.

Venture Minerals

The Venture Minerals share price is up 7.69% at 2.8 cents a share after hitting an intraday high of 3.1 cents today, a 19% jump. Venture has discovered Rare Earth Element (REE) mineralisation at the Mount Lindsay project. The REE mineralisation is adjacent to existing tin zones within the project. More infill surface sampling work will be conducted to define the REE anomalism and identify targets for further drill testing. Commenting on today's news, Venture's managing director Andrew Radonjic said:

The fact the Rare Earths are in shallow clays immediately adjacent to high grade Tin Zone bodes well for the economic potential of the Reward Deposit.

Cobre

The Cobre share price is 16.33% higher at the time of writing to 28.5 cents a share. Earlier in the session, Cobre shares surged 30% higher to 32 cents each. Cobre is a copper explorer with projects in Botswana and Western Australia. Cobre shares took off today despite no news from the company. The copper price is trading 0.38% today, Trading Economics data shows. Cobre recently advised drilling at NCP12 had intersected with "significant copper mineralisation" at the Ngami Copper Project in Botswana. Further drilling is ongoing. Assay results from drill holes NCP07, NCP08, and NCP09 are expected near the end of September.

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Their rallies came despite the S&P/ASX 300 Metals and Mining Index (ASX: XMM) closing 0.75% lower today. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) also lost ground today, down almost the same amount at 0.77%.

More broadly, the S&P/ASX 200 Index (ASX: XJO) closed 0.95% lower on Monday.

Let's see which mining shares defied the market's sluggishness today.

Cobre Ltd (ASX: CBE)

The Cobre Ltd share price closed 34.44% higher today. Shares of the copper and base metals exploration company finished the day at 60.5 cents each after hitting a high of 73 cents in midday trading. That was a 62% jump on Friday's closing price of 45 cents a share.

No news came from Cobre today to account for the massive price rally. In fact, the company's most recent announcement came on Thursday last week. At that time, Corbe said it had received a renewal for five exploration licenses from the Department of Mines in Botswana. The price of copper also recorded a small gain today, up 0.69%, according to Markets Insider.

Anson Resources Ltd (ASX: ASN)

Anson Resources was another ASX mineral explorer share that skyrocketed on Monday. The company's share price finished the day at 20 cents, a 38% jump, after hitting a high of 21 cents in afternoon trading.

Today, Anson Resources announced a major resource upgrade for its Paradox lithium project. The company said a "new discovery" led to the upgrade, accounting for 788,300 tons of lithium carbonate and 3.523 metric tonnes of bromine. These reflect a 324% increase in previously reported lithium reserves and a 248% increase in bromine reserves. The materials were discovered in the Long Canyon Unit 2 well in Utah in the US.

Iris Metals Ltd (ASX: IR1)

Finally, the Iris Metals share price closed 9% higher today at 84.5 cents. Earlier today, the company's shares hit a high of 95 cents each. That represented a gain of 22.6% on Friday's closing price of 77.5 cents a share.

There was no news out of Iris Metals today. However, the company's share price may have been riding the momentum of an announcement last Thursday. In an update to the ASX, the company claimed to be the largest holder of lithium claims in the US state of South Dakota. The total number of the company's claims now stands at 2056, covering an area of 171.12 square kilometres. 

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Astron Pty Ltd (ASX: ATR), Cobre Ltd (ASX: CBE), and Oceana Lithium Ltd (ASX: OCN) all rocketed ahead today.

So why did these ASX mining shares have such a great day?

Cobre

The Cobre share price soared 28.5% today. Cobre's share price has exploded 210% over the past five days. Cobre is exploring copper in Botswana and Western Australia. Investors appear to be buying up Cobre shares on the back of two positive announcements this week. On Tuesday, Cobre revealed drilling had intersected with a "new significant copper intersection" at the Ngami Copper Project in Botswana. Furthermore, Cobre revealed it had received notice of renewal on five exploration licences yesterday.

Astron

The Astron share price surged nearly 17% today. The company is developing the Donald Mineral Sands and Rare Earth project in the Murray Basin, Victoria. This is said to be one of the biggest zircon and titanium resources in the world. On Thursday, Astron provided an update on this project.

A preliminary estimate of phase one operations over a 35-year time frame profile is 250,000 to 300,000 tonnes per annum of heavy mineral concentrate and 7,000 to 10,000 tonnes per annum of Renewable Electronic Energy Coin (REEC).

Meanwhile, as my Foolish colleague Tony reported on Wednesday, one expert has singled out Astron as an ASX share that is "clearly under the radar".

Collins Street Asset Management chief investment officer Vasilios Piperoglou said:

They have a very large, I believe one of the world's largest, undeveloped zirconium and rare earth projects. It has a potential 50-year mine life. You could argue it's a tier-one asset in a tier-one jurisdiction.

Oceana Lithium

The Oceana Lithium share price rocketed 17% on Friday. Oceana is exploring lithium in Ceara, Brazil, and the Northern Territory. Oceana's share price has lifted 18% this week despite no news from the company. However, last week Oceana advised the market it had started fieldwork at two lithium projects in Brazil and Australia. At the flagship Solonopole project in Brazil, Oceana is exploring the "highly prospective" Lapinha zone to follow up high-grade lithium surface samples. Oceana has also commenced fieldwork at the Mt Denison tenement in the Northern Territory.

This week was a positive week for ASX lithium shares amid United States President Joe Biden signing a big spending climate bill. The legislation stipulates critical minerals for EV batteries must be sourced from either North America or a country with a free trade agreement with the US.

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So let's talk about the Cobre Ltd (ASX: CBS) share price. Last Friday, the Cobre share price closed at 14 cents. Today, the ASX copper share is going for 41 cents. That's up 15.7% today, and an extraordinary 182% just since last Friday.

So what on earth is going on with this company to give its shareholders such fortune-making gains?

How has ASX copper share Cobre exploded 182% in a week?

Well, as we covered on Tuesday this week, these gains started when Cobre announced "a new significant copper intersection" at its Ngami Copper Project in Botswana. Here's some of what Cobre chair and managing director Martin Holland said on these results at the time:

We're delighted with the results from the latest drill hole at NCP, which have significantly extended the known footprint of mineralisation over more than 4km.

Importantly, all the results so far indicate at the target remains open-ended to the northeast and is larger than previously anticipated.

The footprint of mineralisation now extends over 4km, which is in line with the largest known deposits in the Kalahari Copper Belt.

Building on this announcement, we again heard from the company just yesterday. This time, Cobre announced that the company had successfully had five exploration licenses in Botswana renewed for an additional two years by the Botswana Department of Mines.

Here's some of what Holland had to say on that news:

The renewal of these exploration licenses has come at a significant time for the Company as we
commence an aggressive exploration program in Botswana.

The renewal cements the belt–scale opportunity provided by our extensive land package in the Kalahari Copper Belt, and will support an additional exploration pipeline of targets for future drill testing.

So it's been an avalanche of good news for Cobre.

Investors are clearly very excited over this company's future, especially now these regulatory hurdles have been cleared. So I think this ASX copper share is definitely one to watch going forward.

At the last Cobre share price, this ASX copper share has a market capitalisation of $70.73 million.

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While the All Ordinaries Index (ASX: XAO) is up a respectable 0.44% in afternoon trading, these ASX mining shares are leaving the index in the dust as investors send them rocketing higher following reports of promising new finds.

So, without further ado…

ASX mining share leaps 30%

First up, we have Gascoyne Resources Ltd (ASX: GCY).

The ASX mining share, focused on gold exploration and development, is up 33.33% at the time of writing after emerging from Friday's trading halt.

This comes after Gascoyne reported it had discovered a "substantial" new high-grade lode system at its new Gilbey's North prospect, situated within its 100%-owned Dalgaranga Gold Project in Western Australia.

Highlights from one of the drill holes include 59 metres at 12.5 grams of gold per tonne from 139 metres, including 13m@51.1g/t.

Gascoyne Resources CEO Simon Lawson said: "It's not every day that you see results like this in the WA gold sector and we are incredibly excited by the potential of this newly discovered lode system on the western edge of the Gilbey's North discovery."

But Gascoyne isn't the only ASX mining share making hay from its new find today.

Copper strike piques investor interest

Cobre Ltd (ASX: CBE) shares are also charging higher, up 31.33% since yesterday's close.

The ASX mining share is garnering investor interest after announcing its fourth intersection of copper mineralisation from an ongoing drill program on Kalahari Metals Limited's Ngami Copper Project (NCP) licenses. Those licenses are located in the Kalahari Copper Belt in Botswana.

Commenting on the positive drill results, Cobre managing director Martin Holland said:

We're delighted with the results from the latest drill hole at NCP, which have significantly extended the known footprint of mineralisation over more than 4 kilometres. Importantly, all the results so far indicate that the target remains open-ended to the northeast and is larger than previously anticipated. The footprint of mineralisation now extends over 4 kilometres, which is in line with the largest known deposits in the Kalahari Copper Belt.

Which brings us to…

The third ASX mining share rocketing today

Rounding off the list of surging ASX mining shares is Latin Resources Ltd (ASX: LRS).

The Latin Resources share price is up 14.78%, bringing its 2022 gains to a whopping 340%.

Investors are sending the ASX mining share higher again today after the company reported a new lithium spodumene discovery at its 100% owned Colina Prospect, located in Brazil.

The drilling intersected "a new swarm of spodumene bearing pegmatites", including one that was 18.75 metres thick.

Latin Resources also said its regional mapping campaign had highlighted a third outcropping pegmatite system in the proximity, yet to be drilled.

Commenting on the drill results, Latin Resources exploration manager Tony Greenaway said

The intersection of these significant spodumene pegmatites … is an impressive new discovery for the Salinas exploration team. This hole is testing an area approximately 500 metres to the west of Colina, well outside of our current resource definition drilling focus.

We knew there were additional parallel pegmatite systems out to the west, getting these spodumene intersections confirms the very high prospectivity of the wider project area.

There you have it.

Three ASX mining shares rocketing today on three different discoveries of gold, copper and lithium.

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The mining company's share price lifted 40% in earlier trade before retreating. Cobre's shares are currently trading at 19 cents apiece, a 26.7% gain. In comparison, the ASX 200 Materials Index is up 1.82% at the time of writing.

So what did the company report to the market today?

What did Cobre discover?

Cobre reported a new significant copper intersection at the Ngami Copper Project within the Kalahari Copper Belt in Botswana.

Drill hole NCP10 intersected with a "broad zone of visible copper mineralisation" extending 69 metres. This includes a 13m zone of chalcocite mineralisation.

The mineralisation is made up of chalcocite in veins, fracture fill, and breccias along with secondary chrysocolla, according to Cobre.

Cobre said the target now has a strike length of more than four kilometres.

Commenting on the news, chairman and managing director Martin Holland said:

We're delighted with the results from the latest drill hole at NCP, which have significantly extended the known footprint of mineralisation over more than 4km.

Importantly, all the results so far indicate at the target remains open-ended to the northeast and is larger than previously anticipated.

The footprint of mineralisation now extends over 4km, which is in line with the largest known deposits in the Kalahari Copper Belt.

On 9 August, Cobre announced infill drilling had commenced at the Ngami Copper project.

Share price snapshot

The Cobre share price has shot up a massive 333% in the past month. In the past year, it has lifted 34%, while it's 107% higher year to date.

For perspective, the ASX 200 Materials Index has shed more than 8% in a year.

Cobre has a  market capitalisation of about $39 million based on the current share price.

The post Cobre share price zooms 40% higher on new copper discovery appeared first on The Motley Fool Australia.

This ASX mining share is rising 1.39% today. In this week alone, the company's share price has exploded 100%.

Let's take a look at what Cobre announced today.

$7 capital raise attracts 'significant demand'

Cobre has completed a $7 million capital raise at 15 cents a share to sophisticated and institutional investors.

This follows the company entering a trading halt yesterday ahead of news of this capital raise.

Cobre said the placement attracted "significant demand" from current and new sophisticated international and domestic institutional investors.

Shares were offered at a 16.7% discount to the closing price on 2 August.

The funds will be used to fast track exploration at the Kalahari Copper Belt in Botswana. Cobre said the exploration will be on the tenement package held by Kalahari Metals Limited (KML). Cobre signed a share purchase deed to acquire 100% of Kalahari Metals, a UK company, in June.

The placement involves two stages, the second of which will require shareholder approval at a meeting later this year. This second stage involves the issue of 9.8 million ordinary shares at 15 cents per share to the company's largest shareholder, Metal Tiger PLC.

Commenting on the news, executive chairman and managing director Martin Holland said:

I would like to extend a vote of thanks for the support from existing and new shareholders into this placement which we see as a vote of confidence in the strategy the board is developing to fast track exploration with the aim to unlock this new potential discovery in Botswana.

Earlier this week, Cobre reported significant copper mineralisation at the project.

Cobre share price snapshot

Cobre's shares have jumped 22% in a year, while it has surged 94% in the year to date.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has lost more than 16% in the last year.

Cobre has a market capitalisation of nearly $30 million based on its current share price.

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This comes as the company requested its shares be placed in a trading halt.

The mineral explorer's shares are currently frozen at yesterday's closing price of 18 cents apiece.

Why is the Cobre share price halted?

At market open, Cobre requested trading of its shares be halted while it prepares to make an announcement.

According to its release, the company is planning to update the market with respect to a material capital raising.

Cobre has asked that the trading halt remains in place until Friday 5 August or following the release of the announcement, whichever comes first.

What does this mean?

While details remain unknown about the capital raise, it appears the company may be seeking to fund its ongoing drilling campaign.

In an earlier announcement today, Cobre provided its latest drilling results from the Ngami Copper Project (NCP) in Botswana.

The third diamond drill hole intersected a 15-metre zone of copper mineralisation consisting of chrysocolla, malachite, and fine-grained chalcocite.

While still in progress, Cobre initially planned to test the first of 57 ranked targets on Kalahari Metal Limited's NCP licenses.

However, proving the occurrence of a significant strike length of copper mineralisation highlights the potential of new discoveries.

The diamond drill rig will move to the next hole upon completion.

Cobre executive chair and managing director Martin Holland said:

The ongoing hole further illustrates the strike length of intersected copper mineralisation in this exciting target which remains open-ended. The footprint of mineralisation, which now extends over more than 3km, is very much in-line with known deposits in the Kalahari Copper Belt….

About the Cobre share price

Since this time last year, Cobre shares headed on a downhill trend before rocketing during the last week of July.

Ultimately, this led the company's shares to register a gain of 16% for the period, rocketing 592% in the past month alone.

Cobre has a market capitalisation of roughly $29 million with approximately 165 million shares outstanding.

The post Copper and cash: Why this ASX mining share is on ice today appeared first on The Motley Fool Australia.

The Cobre Ltd (ASX: CBE) share price is currently up more than 74% to 15 cents.

Let's take a look at why investors are buying up this mineral explorer's shares today.

Why is this ASX mining share lifting?

Investors are buying up Cobre shares today on the back of another significant copper intersection.

Drilling at the second diamond drill hole intersected "abundant chalcocite mineralisation" at the Ngami Copper Project in Botswana.

Cobre said the result shows mineralisation from about 55m below surface at a strike length of more than 2km.

Cobre's share price is up 206% since market close on 26 July. On 27 July, the Cobre share price leapt 104% after it reported its first intersection of significant copper mineralisation at the site.

Commenting on today's news, executive chairman and managing director Martin Holland said:

The Ngami Copper Project in Botswana is demonstrating exceptional promise with this outstanding
copper intersection which confirms that we are potentially sitting on a new copper discovery within the Kalahari Copper Belt.

This new intersection is 1km away from our initial diamond hole that also intersected significant copper mineralisation.

This has been a phenomenal start to our drilling program, which includes a total of 57 high-priority
targets, and is only just the beginning

The company is now working on a third diamond drill hole at the project. Cobre plans to continue drilling at the site to define copper and base metals mineralisation at the project.

Cobre share price snapshot

Cobre's shares have leapt 477% in a month, while they have jumped 249% in the past week. In the past year, this ASX mining share has lost more than 3%.

For perspective, the S&P/ASX 200 Materials Index has lost nearly 15% in the last year.

Cobre has a market capitalisation of nearly $25 million based on its current share price.

The post Guess which tiny ASX mining share just rocketed 74% on an 'outstanding' new copper find appeared first on The Motley Fool Australia.

In late morning trade the Cobre Ltd (ASX: CBE) share price is up 96%, having earlier posted gains of more than 106%.

So, why are investors piling into this tiny ASX mineral explorer?

Why is the ASX mining share rocketing?

The Cobre share price is rocketing after the miner reported its first intersection of significant copper mineralisation at the Ngami Copper Project located in Botswana.

Cobre said the visual copper mineralisation was intersected in its first diamond drill hole at the project, situated within the Kalahari Copper Belt.

According to the ASX mining share, the promising early drill results highlight the strong potential of the area. The miner has 57 priority targets across KML's extensive license holding on the northern margin of the Kalahari Copper Belt.

Commenting on the early drill results, Cobre managing director Martin Holland, said:

Now we have a promising copper intersection, on one of the most prospective Copper belts in the world. This result, one-kilometre away from the previous historic hole, shows the current mineralisation thickens over a one-kilometre zone to date…

We have prioritised this portion of the belt due to its favourable geological setting. These results, which confirm the presence of significant copper mineralisation, validate the district scale opportunity of Cobre's, soon to be 100%-owned, extensive license package within the Kalahari Copper Belt.

The ASX mining share has a second diamond hole currently being drilled further along the strike.

"With diamond drilling ongoing in Botswana, we anticipate ongoing exploration updates to follow and look forward to updating our shareholders in due course," Holland added.

Cobre share price snapshot

With today's big leap factored in, the ASX mining share is up 4% in 2022. That compares to a year-to-date loss of 12% posted by the All Ordinaries Index (ASX: XAO).

The post Guess which ASX mining share just exploded 100% on a new discovery appeared first on The Motley Fool Australia.

The Cobre share price has risen 17.5% today to 23.5 cents per share.

Cobre is an exploration and mining company in Western Australia. Its projects include the Perrinvale project in Kalgoorlie and the Sandiman project in the Carnarvon Basin. The Kalahari Copper Belt presents a potentially lucrative opportunity for the company to expand its exploration outreach into Africa.

Cobre's Kalahari Copper project

Cobre's shareholders voted today to acquire Kalahari Metals Limited (KML), a UK company that's the second-largest tenement holder in the highly prospective Kalahari Copper Belt. Cobre is acquiring a 51% stake in the company, funded by the issue of 21.4 million Cobre shares.

The US Geological Survey regards the Copper Belt as one of the world's most prospective areas for yet-to-be-discovered sediment-hosted copper deposits. Cobre is impressed that KML's recent discoveries have targeted high-grade structurally controlled mineralisation in the areas it has a licence to explore.

KML holds 8,100 square kilometres in proximity to, and along strike from, known deposits in the Kalahari Copper Belt. Cobre considers Botswana to be a "stable jurisdiction investing heavily in power transmission".

What did Cobre management say?

Cobre CEO Martin Holland said that the Kalahari Copper Belt acquisition could lead to a large copper discovery for the company.

The board believes that this acquisition of a large portion of the prolific Kalahari Copper Belt (KCB) will create a stronger and more diversified company poised for domestic and international growth.

By adding a stake in the prospective and under-explored KCB in Botswana, we have broadened our project portfolio and increased our exposure to copper, a metal in high global demand.

The board is very excited about the opportunity this represents for the company and following completion of the transaction, which is expected to occur shortly, the Kalahari Metals Limited (KML) team is ready to hit the ground with the next exploration program which includes a drilling campaign.

In a series of resolutions passed today, Cobre shareholders voted for the acquisition.

Cobre share price snapshot

With the Cobre share price jumping 17% today on the acquisition announcement, shares in the company have risen 6.8% in the past month and 46.8% over the past 12 months. The Cobre share price is down 9.6% in 2021, but it's scraped above the basic materials sector, returning 5% above over the past 12 months.

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