Kobrea forms exploration alliance with BHP Metals Exploration on Argentina copper projects

Kobrea entered an exploration alliance with BHP Metals Exploration for its Western Malargüe copper projects in Mendoza, Argentina.

• BHP will pay an upfront US$3 million to fund project advancement at the start of the agreement.
• BHP committed to fund at least US$5 million of exploration over a two-year project generation phase operated by Kobrea.
• BHP can select up to four projects for earn-ins, funding at least US$40 million per project to earn 75% over eight years.
• Earned-in projects would move into 75/25 joint ventures, with BHP able to take operatorship once the initial phase ends.