Cordoba Minerals Announces JCHX Shareholder Approval and Expected Closing Date of Alacran Asset Sale

The most recent news (March 2, 2026) confirms that shareholders of JCHX Mining Management Co., Ltd. have approved the acquisition of Cordoba’s remaining 50% interest in the Alacrán Project and all other Colombian exploration assets. This follows a critical amendment on February 10, 2026, which increased the immediate closing cash payment from US$88 million to US$128 million. The transaction is scheduled to close on March 6, 2026, pending final TSX Venture Exchange approval.

The impact is Material - Positive. This news marks the successful resolution of a transaction that appeared to be in jeopardy at the end of 2025 when initial conditions were not met. - Liquidity Injection: The increase in the lump-sum cash payment to US$128 million (up from US$88 million) significantly strengthens the company's balance sheet. - Risk Mitigation: By waiving the Environmental Impact Assessment (EIA) approval as a closing condition, Cordoba has successfully shifted the Colombian permitting risk to JCHX. - Strategic Pivot: The company is now fully funded to transition its focus to the Perseverance copper project in Arizona, moving away from the jurisdictional and permitting complexities of Colombia. - Shareholder Returns: Previous filings indicated an intention to distribute a significant portion of net proceeds (estimated between US$65M–$70M under the old terms) to shareholders. The higher cash component likely increases this potential distribution.

Cordoba Minerals has historically focused on the Alacrán Project in Colombia, a copper-gold development asset. Following the March 2026 closing, the company will have successfully divested its entire Colombian portfolio to JCHX. The new flagship focus is the Perseverance Project in Arizona, USA, an exploration-stage copper porphyry target.