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An update from Cobra Resources Plc ( (GB:COBR) ) is now available.
Cobra Resources Plc has announced a general meeting to seek shareholder approval for the conditional sale of its Wudinna Gold Assets to Barton Gold Holdings Ltd for up to A$15 million. This transaction, which includes cash payments and shares in Barton Gold, will enhance Barton’s resource holdings and allow Cobra to retain exploration rights over its Boland HREE Project. The deal is expected to strengthen Cobra’s focus on rare earth elements while providing financial benefits from the gold assets’ future production.
More about Cobra Resources Plc
Cobra Resources Plc is a mineral exploration and development company focusing on the advancement of a potentially world-class ionic Heavy Rare Earth Element discovery at its Boland Project in South Australia. The company is known for its innovative approach to mining, particularly through the use of in situ recovery (ISR) methods, which are cost-effective and environmentally friendly. Cobra’s operations also include extensive orogenic gold mineralization within its Wudinna tenements, which are amenable to open pit mining.
Average Trading Volume: 1,610,182
Technical Sentiment Signal: Buy
Current Market Cap: £18M
For detailed information about COBR stock, go to TipRanks’ Stock Analysis page.