26th Sep 2024 16:48
(Correcting pretax loss figures)
Cobra Resources PLC - London-based mining company with operations in South Australia - In the six months to June 30, pretax loss widens to GBP382,938 from GBP307,101 year-on-year. During the period, Cobra finalises its acquisition of the remaining 25% of the Wudinna project from Andromeda Metals. Chair Greg Hancock says: "It's been a highly productive half as we continued to focus on what is a unique opportunity to transform the global rare earths supply landscape via our Boland project, the only ionic rare earth elements project in Australia suitable for in situ recovery. The ongoing metallurgical studies at the Australian Nuclear Science & Technology Organisation are proving successful with exceptional results to date."
Current stock price: 1.15 pence, closed 7.0% higher in London on Thursday afternoon
12-month change: up 9.5%
By Emily Parsons, Alliance News reporter
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