Cobra Resources
Primary ticker: LON:COBR
Stage of development: Exploration
Primary minerals: Gold, Rare Earths, Uranium
Project to promote: Wudinna Project
Project location: Australia
Website: cobraplc.com
Corporate presentation: Click here
Corporate video: Click here
Cobra is defining a unique multi-mineral resource at the Wudinna Gold and Rare Earth Project in South Australia’s Gawler Craton, a tier one mining and exploration jurisdiction which hosts several world-class mines. Cobra’s Wudinna tenements, totalling 1,832 sq km, and other nearby tenement rights, totalling 2,941 sq km, contain highly desirable and ionic rare earth mineralisation which is amenable to low-cost, low impact in situ recovery mining, and critical to global decarbonisation. Additionally, Cobra holds a 213 sq km exploration tenement in northern Tasmania which is also considered highly prospective for ionic rare earth mineralisation.
Cobra’s Wudinna tenements also contain extensive orogenic gold mineralisation and are characterised by potentially open-pitable, high-grade gold intersections, with ready access to infrastructure. Cobra has 22 orogenic gold targets outside of the current 279,000 Oz gold JORC Mineral Resource Estimate, and several iron oxide copper gold (IOCG) targets.
Cash: GBP 0.55M
Debt:Nil
Major shareholders:
Nortrust Nominees Ltd – 10.20%
(Bruce Parncutt is the ultimate beneficial owner) David Clarke (Director) – 9.88%
Craig P Ball and Suzanne K Ball – 9.88%
Peninsula Resources Pty Ltd (Andromeda Metals Ltd) – 7.80%
Christoph Weiss – 3.02%
Management ownership – 10.38%
Financials
Management Profile
Rupert Verco, BSc. Hons, Chief Executive Officer
Fellow of the Australasian Institute of Mining and Metallurgy. A mining specialist with over 15 years’ experience in Australia and internationally. His key areas of focus include resource definition, reserve optimisation, mine planning, and mine operation. He has managed operations through all phases of the mining cycle on projects that cover a range of commodities including gold, copper, uranium, tin, and iron ore.
David Clarke, Director, Business Development & Asset Marketing
Geologist with more than 50 years of professional experience and more than 25 years’ experience as a director of Australian public companies. He was previously a senior geologist with the Commonwealth Department of the Interior and a Chief Geologist at Santos Limited. He was also the founder and Chairman of Australian Vintage Limited, a winemaking company based in the Riverland of South Australia. David was the founder, and remains a co-owner of, Thorn-Clarke Wines, a family-owned wine producer in the Barossa Valley of South Australia. He has been a Non-Executive Director of the Company since 1 May 2020 and became an Executive Director on 18 March 2024.
What is your rationale for taking part in 121 Mining Investment?
To date, Cobra’s focus has been the technical advancement of the Wudinna Project. The company is committed to demonstrating the Boland ionic rare earth discovery’s commercial potential and growing the existing gold and rare earth resources, whilst rare earth metallurgy is advancing towards flowsheet development with a number of collaborating partners. As Cobra is taking the Wudinna Project towards feasibility, we endeavour to increase investor exposure targeting retail interest and growing relationships with institutional investors. The company anticipates further drilling results and project news being announced to the market ahead of the 121 Conference.
What recent news would you like to highlight to investors attending?
25 March 2024 – Drilling Results from Boland Prospect
27 February 2024 – Historical Drillhole Re-Assay Results
12 February 2024 – REE Exploration Strategy to Include Uranium
11 September 2023 – Ionic Rare Earth Mineralisation at Boland Prospect
7 September 2023 – Rare Earth and Gold Resource Upgrades
20 June 2023 – Exceptional REE Results Defined at Boland
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
High news flow
Stages 2 & 3 re-analysis results from Boland
Bench scale ISR tests
Resource AC drilling
Watercycle Technologies flowsheet
Tasmania Loupe TEM
6 Months:
Flowsheet results
New project exploration
12 Months:
Resource upgrades
Further drilling results
Insitu Recovery Pilot Study
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Capital Markets – Strategic marketing and growing investor relations
Financing – Pursuing alternate not dilutive and debt free financing options
What do you think makes your company such a compelling investment?
Unique project with significant growth potential enhanced by the Boland ionic rare earths discovery, which could reshape the global supply of magnet and heavy rare earths, and spatial association of gold and overlying rare earth resources. Provides investor exposure to a range of high-value commodities within a single project.
What are the top 3 key investor takeaways?
1. Potentially transformational, highly scalable >2,000 sq km ionic rare earth discovery, with mineralisation amenable to low-cost, low impact ISR mining. Growth strategy aimed at proving the environmental benefits and profitability of ISR mining.
2. Unique mineral occurrence and potential for further resource growth based on:
a) 22 orogenic gold prospects outside of the existing 279,000 Oz gold JORC MRE
b) 41.6 Mt defined complementary clay-hosted rare earths resource overlying gold mineralisation
c) Potential to test for roll-front uranium mineralisation whilst demonstrating scalability of Boland discovery
3. Strategic exploration strategy being applied to an extensive landholding within a tier 1 jurisdiction that’s a world leader in ISR