Highlights

  • Coolabah Metals retired its CBH ticker and rebranded as Broken Hill Mines Limited under new ASX ticker BHM.
  • The company acquired 100% of the operating Rasp Silver-Lead-Zinc Mine at Broken Hill, including established underground infrastructure.
  • A comprehensive offtake and debt financing package with Hartree Partners funded the acquisition and restart capital.
  • The Rasp mine is located directly on the iconic Broken Hill Line of Lode with established flotation processing facilities.

In a single transaction, Coolabah Metals (ASX:CBH) erased its grassroots explorer identity and emerged as an operating underground producer — acquiring the historic Rasp Silver-Lead-Zinc Mine at Broken Hill, completing an ASX re-compliance, and relaunching under new ticker BHM, all in one decisive strategic move.

Corporate Transformation and Ticker Retirement

Coolabah Metals Limited, listed under its legacy ticker CBH, underwent a comprehensive corporate restructuring culminating in the retirement of its legacy trading ticker. As recorded on the Australian Securities Exchange in October 2026, the legacy ticker CBH displays a price of A$0.00 and nil market capitalisation, reflecting the formal corporate re-compliance and rebranding to Broken Hill Mines Limited under new ticker BHM.

Originally listed in 2022 to explore prospective gold and base metal tenure across New South Wales and Queensland — including the Coolabah Gold Project, the Gunfuntta Gold Project, and Cannington project interests — management pursued a value-accretive step-change via advanced project acquisition after recognising the challenging capital environment for grassroots explorers.

Acquisition of the Rasp Mine

The turning point was the binding agreement to acquire 100% of the operating Rasp Silver-Lead-Zinc Mine and the Pinnacles Joint Venture at Broken Hill, New South Wales. The Rasp mine is situated directly on the iconic Broken Hill Line of Lode, boasting established underground mining decline infrastructure, modern rail loadout facilities, and an operational flotation processing plant.

To fund the acquisition, restart capital, and working capital requirements, the company finalised a comprehensive offtake and debt financing package with international commodities merchant Hartree Partners.

ASX Re-Compliance and Capital Structure

Under the transaction framework, the company completed an extensive ASX Chapter 1 and Chapter 2 re-compliance prospectus, issuing new equity to institutional and retail investors and formally changing its identity to Broken Hill Mines Limited. This process is standard for listed companies that undergo sufficiently significant change-of-nature transactions.

Precious Metal Credits and Retained Exploration Assets

In addition to producing zinc concentrates, the Rasp operations generate substantial silver and gold credits within lead-silver concentrates, providing cash-flow enhancement against strong global precious metal spot pricing. The company also retains prospective gold exploration tenements in the Lachlan Fold Belt, providing organic brownfield discovery upside.

Key Risks

Underground mining on historical mineralised lodes involves geotechnical management of remnant stopes, ground support maintenance, and mill grade reconciliation. The company faces commodity price risks across zinc and lead markets, environmental rehabilitation obligations at Broken Hill, and production ramp-up execution risks under new management.