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An announcement from Cobra Resources Plc ( (GB:COBR) ) is now available.
Cobra Resources PLC announced a significant change in its shareholder structure as Ausum Pty Ltd acquired 52,010,000 shares previously held by Peninsula Resources Pty Ltd (Andromeda Metals Ltd). This acquisition gives Ausum Pty Ltd a 6.50% stake in Cobra, highlighting the investment community’s confidence in Cobra’s strategic mineral assets. The company’s chairman, Greg Hancock, expressed enthusiasm about welcoming a shareholder with long-term objectives, emphasizing the strategic importance of Cobra’s assets and the opportunity they present for future growth.
More about Cobra Resources Plc
Cobra Resources PLC is a mineral exploration and development company focused on advancing a potentially world-class ionic Rare Earth Elements (REEs) discovery at its Boland Project in South Australia. The company is working to define a low-cost, strategically important critical mineral asset with potential for significant market impact. Cobra’s projects include the highly scalable Boland ionic rare earth discovery, amenable to in situ recovery mining, as well as extensive gold mineralization at its Wudinna tenements.
YTD Price Performance: 4.55%
Average Trading Volume: 1,801,373
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £9.2M
For a thorough assessment of COBR stock, go to TipRanks’ Stock Analysis page.