Kobrea Exploration raises $9.2M to fund drilling in Argentina’s Mendoza province

Kobrea Exploration raises C$8.5 million through brokered and non-brokered offerings to advance exploration at its Western Malargüe Copper Project in Argentina’s Mendoza province.

Kobrea Exploration (CSE:KBX) has raised C$8.5 million ($9.22 million) through a combination of brokered and non-brokered private placements to advance drilling and exploration activities across its assets in Argentina’s Mendoza province.

Dual placement structure raises C$8.5 million

The Canadian explorer will issue a total of 17 million units at C$0.50 each, split between two tranches:

• 7.75 million units under the brokered offering, generating C$3.88 million, and
• 9.25 million units under the non-brokered offering, contributing C$4.62 million.

Each unit consists of one common share and one warrant, providing investors with leveraged exposure to Kobrea’s future upside.

The financing was led by Kernaghan & Partners, acting as lead agent and sole bookrunner, with participation from Beacon Securities and Red Cloud Securities, according to details previously reported by Mining.com.au.

Drilling focus: Western Malargüe Copper Project

Proceeds from the capital raise will fund exploration and drilling programs at Kobrea’s Western Malargüe Copper Project, where the company has the option to earn a 100% interest.

Located in the Mendoza province of western Argentina, the 73,334-hectare property hosts more than 12 porphyry copper and copper-gold prospects, positioning it as one of the most promising early-stage exploration portfolios in the region.

The company is expected to initiate drilling in late 2025, targeting large-scale porphyry systems similar to those found across the Andean copper belt.

Expanding base metal portfolio across the Americas

Kobrea Exploration is focused on acquiring and developing base metal projects in Argentina and Canada, leveraging its growing cash reserves to pursue new opportunities in underexplored but highly prospective geological regions.

With the latest financing complete, Kobrea now has a strengthened balance sheet to accelerate exploration and potentially expand its copper-gold footprint across South America.