Cobra Resources PLC Update on RTO and Re-Listing of Company (8534X)
23 Diciembre 2019 - 06:09AM
UK Regulatory
TIDMCOBR
RNS Number : 8534X
Cobra Resources PLC
23 December 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
For immediate release
23 December 2019
Cobra Resources plc
("Cobra" or the "Company")
Update on Reverse Take Over of Lady Alice and Re-Listing of the
Company
Cobra, is an exploration, development and mining company which
today announces an update on its reverse take-over ("RTO") of Lady
Alice Mines Pty Ltd and its re listing on the London Stock
Exchange.
Lady Alice Mines Pty Ltd is the sole owner of:
- 100% of right title and interest in South Australian
Exploration Licence Number 6016 (the "Prince Alfred Licence") a
formerly producing copper mine (the "Prince Alfred Mine"); and
- an entitlement to earn a 75% equity interest in 5 large
tenements near Wudinna in South Australia (the "Wudinna Project")
for gold exploration.
The Wudinna Project is located on the Eyre Peninsula in the
Central Gawler Gold Province, a 450-kilometre-long arcuate belt in
South Australia which contains numerous mineral deposits and
prospects.
In November the Company announced a three-stage geochemical
sampling programme with the aim of improving the definition of
targets at Wudinna prior to drilling, reducing spend and improving
target definition.
Prospectus and Re-Admission:
As part of the RTO the Company has conducted a placing (subject
to Admission) to raise GBP613,300 and has filed a prospectus with
the FCA. The Company expects a Prospectus to be published and
Admission to take place in early January 2020. Timing and Admission
remain subject to regulatory review and approvals.
Phase 1 Sampling Programme:
The Company has been advised that all necessary access
permissions and landowner consents to conduct the Phase 1 sampling
programme (announced by the Company on the 25th November) have been
received. This programme will focus on collecting calibration
samples that will be submitted for detailed multi-element analysis,
which in turn can be calibrated with drilling from known
mineralisation at Barns, Baggy Green and White Tank. We are
scheduled to be on site on the 7th of January to commence work.
Further updates will be forthcoming as work progresses.
Craig Moulton, Director of Cobra commented:
"I would like to thank all of our shareholders for their
continued patience and wish everyone a very Merry Christmas. We are
excited that the company's shares will be trading again as soon as
the final regulatory approvals are completed. We are all very keen
to begin our exploration programme at Wudinna, which will commence
very early in the New Year."
The person who arranged for the release of this announcement on
behalf of the Company was Craig Moulton, Director of the
Company.
End
Enquiries:
+44 (0) 20 7129 1471
Cobra Resources plc Craig Moulton +61 (0) 8 9316 4938
Nick Emerson
SI Capital Limited (Broker) Sam Lomanto +44 (0) 14 8341 3500
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Duncan Vasey
Peterhouse Capital Limited Lucy Williams +44 (0) 20 7469 0932
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END
MSCPGGPUPUPBGPW
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December 23, 2019 07:09 ET (12:09 GMT)
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