Cobre (ASX:CBE) completed the first tranche of AU$72.4 million of its AU$90 million placement, according to a Thursday Australian bourse filing.
The full second tranche is subject to shareholder approval at an extraordinary general meeting to be convened in either late August or early September.
The second tranche includes participation by the board and the company's two major shareholders, Tribeca Investment Partners and Strata Investment Holdings.
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