TIDMCOBR
RNS Number : 0775E
Cobra Resources PLC
05 July 2021
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5 July 2021
Cobra Resources plc
("Cobra" or the "Company")
Appointment of Chief Executive Officer
Cobra, the gold exploration company focused on the Wudinna Gold
Project in South Australia, is pleased to announce the appointment
of Rupert Verco as Chief Executive Officer with effect from 12 July
2021.
Rupert is a mining specialist with over 14 years' experience in
Australia and internationally focusing on areas including resource
definition, reserve optimisation, mine planning, and mine
operation. He has managed operations through all phases of the
mining cycle on projects that cover a range of commodities
including gold, copper, uranium, tin, and iron ore.
Since 2018, Rupert has been a Technical Mining Specialist
consultant with Xenco Mining Services in Australia. His prior
experience includes Tarcoola Gold in South Australia where, as Mine
Manager from 2016-2018, he negotiated mining approvals, executed
project infrastructure, managed a mining operation, and defined and
mined additional resources.
As Surface Mining Supervisor at the Challenger Gold Mine in
South Australia from 2015-2016, Rupert successfully managed the
mining operations and executed all technical provisions for a
satellite surface operation that added additional ounces to the
mine's annual production.
From 2012-2015, Rupert was Mining Superintendent of the Peculiar
Knob mine in South Australia where he managed daily operations
through operational start-up and ramp-up of a geologically and
operationally complex iron ore mine.
Rupert is a member of the Australasian Institute of Mining and
Metallurgy and holds a First Class Honours in Geology.
Cobra has determined that Rupert Verco will be classified as a
person discharging managerial responsibility. Rupert Verco does not
hold any other directorships. Cobra confirms that there is no
further information to be disclosed under the requirements of
Listing Rule 9.6.13 in relation to the appointment of Rupert Verco
as Chief Executive Officer.
As previously announced, Craig Moulton will remain with the
Company, until 16 September 2021, and will work with Rupert to
ensure a smooth transition of executive responsibilities including
for the ongoing work programme at Wudinna.
Greg Hancock, Chairman, commented:
"I am delighted to welcome Rupert to Cobra. His experience in
South Australia, from resource definition to building mining
operations, will be valuable to the business as we advance the
Wudinna Gold Project. In addition, this will see the establishment
of an exploration office in Adelaide, much closer to the Company's
project.
I would like to reiterate my thanks to Craig for his hard work
during his time with the Company and wish him well in his future
endeavours."
Rupert Verco, CEO Designate, commented:
"I am excited to be joining Cobra. The Company has an
experienced board with proven success in the Australian resources
sector. Cobra's current gold resource sits within the highly
prospective Gawler Craton that hosts some of Australia's premier
operating mines and BHP's more recent and exciting Oak Dam IOCG
discovery. I look forward to applying my experience in Gawler
Craton gold deposits to Cobra's land tenure, growing shareholder
value through developing Wudinna's existing resources, and applying
strategic exploration to the list of appealing targets."
Enquiries:
Cobra Resources plc via Vigo Consulting
Greg Hancock (Australia) +44 (0)20 7390 0234
Dan Maling (UK)
SI Capital Limited (Joint Broker)
Nick Emerson
Sam Lomanto +44 (0)1483 413 500
Peterhouse Capital Limited (Joint
Broker)
Duncan Vasey
Lucy Williams +44 (0)20 7469 0932
Vigo Consulting (Financial Public
Relations)
Ben Simons
Fiona Hetherington +44 (0)20 7390 0234
About Cobra
Cobra's Wudinna Gold Project is located in the Gawler Craton
which is home to some of the largest IOCG discoveries in Australia
including Olympic Dam, as well as Prominent Hill and Carrapateena.
Cobra's Wudinna tenements contain extensive orogenic gold
mineralisation and are characterised by potentially open-pitable,
high-grade gold intersections, with ready access to nearby
infrastructure. In total Cobra has over 22 orogenic gold prospects,
with grades of between 16 g/t up to 37.4 g/t outside of the current
211,000 oz JORC resource, as well as one copper-gold prospect, and
four IOCG targets.
Wudinna Project Description
The Eyre Peninsula Gold Joint Venture comprises a 1,928 km(2)
land holding in the Gawler Craton. The Wudinna Gold Project within
the Joint Venture tenement holding comprises a cluster of gold
prospects which includes the Barns, White Tank and Baggy Green
deposits.
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END
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