8th Jul 2025 12:45
Cobra Resources PLC - developing heavy rare earth element discovery at its Boland project in South Australia - Calls general meeting for July 24 to approve the sale of its Wudinna gold assets in South Australia in a deal worth for up to AUD15 million, about GBP7.2 million. Cobra last week announced the disposal to Sydney-listed Barton Gold Holdings Ltd. It will receive AUD500,000 in cash and AUD5 million in Barton Gold shares, both in two instalments. It can receive up to AUD2 million more in Barton shares upon the Wudinna project reaching a resource milestone and up to a further AUD7.5 million cash from production. Wudinna has a JORC-compliant mineral resource estimate of 279,000 ounces of gold. It neighbours Boland, both near to Adelaide. Barton's Challenger, Tarcoola and Tunkillia projects also are nearby.
Current stock price: 2.07 pence, up 3.3% in London on Tuesday for GBP18.1 million market capitalisation
12-month change: up 97%
By Tom Waite, Alliance News editor
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