Cohiba Minerals Share Price Is Up 280% in the Last Week

Cohiba Minerals Limited [ASX:CHK] has seen a major spike in its share price over the last week.

At time of writing, Cohiba’s shares are up 280% from this time last week, trading at 1.9 cents. This is the highest the stock has traded in over 18 months.

Why have Cohiba shares spiked?

As we wrote last week, the surge came after the company announced its plans to accelerate the exploration of it Olympian Domain project, following the news that BHP found a huge copper deposit next to Cohiba’s tenements.

The two projects are right next to one another:

Cohiba Minerals Share Price

Source: Cohiba Minerals

As per

‘BHP’s discovery, … included a 425.7m intersection grading 3.04% copper 0.59 grams per tonne gold, 346 parts per million uranium and 6.03g/t silver, was in a tenement adjacent to Cohiba’s in South Australia’s Olympic iron-oxide, copper, gold (IOCG) province.’

Australia’s Top 10 Mining Stocks. Download your free report now.

What’s the future like for Cohiba Minerals shares?

While long-term shareholders were rewarded, some might consider it a little too late to join the party.

As it stands, BHP’s discovery is only 2km from the company’s Olympic Domain Project and the company needs to seek out additional funding in order to proceed with drilling.

To further this agenda, Cohiba has recently announced that it has,

‘in the past few weeks … been in preliminary discussions with various parties willing to discuss collaboration on the Horse Well Project … Cohiba and its joint venture partner [are] seeking to finalise permits to enable us to commence a drilling program as soon as practical.’

Investors will be watching future announcements very closely.


Lachlann Tierney

For Markets and Money

PS: Interested in mining stocks? Markets and Money’s resource expert, Jason Stevenson has a new investor report, ‘A Detailed Look into Australia’s Top 10 Mining Stocks’, which does exactly what it says in the name. He looks at 10 companies that he believes could make you huge money this year, and beyond. To download that report free, go here.

Markets & Money is unlike any other finance newsletter. Our mission is to look at the world of investments and finance in a sceptical and contrarian way. Our editorial team looks beyond the headlines and obvious explanations to bring you what we think is really moving the market. More importantly, we’re trying to show you where the next big opportunities and where the big risks are that you might not be aware of. In Markets & Money you’ll read about the state of the Australian housing market, the future of the commodity boom, China’s rise to an economic superpower, the fate of the US dollar, and of course a whole lot more.

Leave a Reply

Your email address will not be published. Required fields are marked *

Markets & Money