Cohiba Minerals shares climb by 33% on results of general meeting

Junior explorer Cohiba Minerals’ (ASX:CHK) shares have risen by 33% to $0.004 as of 1:20pm AEST after announcing the results of a general meeting today (11 July 2023).

The company reports all resolutions were passed on a poll in the general meeting.

These items included the ratification of previously issued options and shares, obtaining approval to issue shares and options, and approval to issue consideration securities under the company’s agreement to acquire Canadian explorer Maple Minerals 2, announced on 25 May 2023.

Yesterday (10 July 2023), Cohiba reported it was progressing discussions with ‘major’ service providers to optimise its field season to conduct initial reconnaissance work on the 4 lithium and rare earth element (REE) projects in Canada it entered an agreement to acquire in May.

The company said ‘major’ wildfires in Canada have halted the summer field season, but it notes the current situation in Ontario should allow reconnaissance work to be carried out.

Meanwhile, in Australia, Cohiba reported it was continuing to review and enhance its exploration models to conduct further drilling in the near future at its Olympic Domain Project in South Australia.

Cohiba Minerals is an ASX-listed explorer focused on its portfolio of assets including the Olympic Domain Project in South Australia, the Pyramid Lake Project in Western Australia, and the Wee Macgregor Project in Queensland.

The company also entered an agreement to acquire Maple Minerals 2, which holds the Big Rock, Rogers Creek, Ottertail, and Gathering lithium properties in Ontario. Cohiba had $930,000 cash at hand on 31 March 2023, according to its latest quarterly report published on 28 April 2023.

Write to Harry Mulholland at Mining.com.au

Images: Cohiba Minerals Ltd
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.