Cooper Metals said it has entered into a binding share sale agreement to acquire an 85% interest in Chalterra Pty Ltd, which holds an option to acquire Colet Mining & Development Corporation. Colet Mining holds the claims comprising the Colet Copper Project.
The project has a historical 2012 estimate of 339.0 million tonnes at 0.35% copper, containing 1.187 million tonnes of copper, reported under the 2004 JORC Code. Cooper cautioned that it has not independently validated the estimate and it should not be regarded as a current JORC 2012 Mineral Resource.
Completion remains subject to technical, financial and legal due diligence, required regulatory, government and third-party approvals, and Cooper shareholder approvals. The company said there is no certainty the conditions will be satisfied or the transaction will complete.
Cooper plans a work program including validation of historical drilling data, mapping and surface sampling, confirmation and twin drilling, community engagement and environmental studies. It intends to spend about $3 million over 12 months on the program, funded from the proposed capital raising.
Source: Download CPM official ASX announcement, 2026-10-12.
Photograph from Cooper Metals' ASX announcement dated 12 October 2026.