16th Jan 2020 12:38
(Alliance News) - Cobra Resources PLC on Thursday said its shares have been readmitted to trading following its reverse takeover of Australian firm Lady Alice Mines Pty Ltd.
The mining company said that shares have been readmitted to trading on the London Stock Exchange under new code "COBR".
In November 2018, Cobra became a cash shell. In December 2019, it announced its intention to be readmitted following the completion of its reverse takeover of Lady Alice.
Lady Alice has a 100% interest in the Prince Alfred licence, a mine in Australia which formerly produced copper. It also has a 75% interest in five gold exploration tenements in Wudinna, also in the state of South Australia.
In a separate statement, Cobra said it has appointed Peterhouse Capital Ltd as joint broker to the company alongside SI Capital Ltd.
Cobra shares were trading 4.0% higher at 1.30 pence each on Thursday in London.
By Ife Taiwo; [email protected]
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