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Cobra Resources Plc ( (GB:COBR) ) has provided an announcement.
Cobra Resources Plc has announced a conditional sale agreement with Barton Gold Holdings Ltd to sell its Wudinna Gold Assets for up to A$15 million, consisting of cash payments and shares in Barton Gold. This transaction allows Cobra to focus on its Boland HREE Project while retaining an indirect interest in the gold assets. The deal strengthens Cobra’s balance sheet and strategic options, as it becomes a significant shareholder in Barton Gold, which is poised to become a major gold producer in South Australia with over two million ounces of gold resources.
More about Cobra Resources Plc
Cobra Resources Plc is a mineral exploration and development company focusing on the discovery and advancement of ionic Heavy Rare Earth Elements (HREE) at its Boland Project in South Australia. The company is engaged in unlocking the potential of critical elements like terbium and dysprosium, which are significant for the Western world.
Average Trading Volume: 1,251,632
Technical Sentiment Signal: Strong Buy
Current Market Cap: £13.17M
For detailed information about COBR stock, go to TipRanks’ Stock Analysis page.