Cobra Resources Plc ( (GB:COBR) ) has issued an announcement.
Cobra Resources has resumed resource-focused aircore drilling at its Boland Project following a brief pause over the Christmas period. The company plans to complete Stage 1 of its drilling program, which aims to define and support a maiden REE resource estimation over the palaeochannel near the established wellfield. This stage is part of a larger 12,000m program designed to establish a scalable and low-cost production of REEs using ISR mining. Preliminary observations indicate positive results for scalable mining, and Cobra is approaching a significant milestone with the production of a maiden mixed rare earth carbonate, highlighting progress towards sustainable and low-cost recovery of critical rare earth metals.
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 pioneering the use of in situ recovery (ISR) mining, a low-cost and low-disturbance method, to extract these rare earth elements, which are critical for various high-tech applications. Cobra’s operations also include extensive gold mineralisation, with a significant gold resource estimate in the Gawler Craton region.
YTD Price Performance: 4.55%
Average Trading Volume: 1,879,244
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £9.2M
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