TIDMCOBR
RNS Number : 3000L
Cobra Resources PLC
29 April 2020
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.
For immediate release
29(th) April 2020
Cobra Resources plc
(LSE:COBR)
("Cobra" or the "Company")
Changes to Cobra Resources plc Board
Cobra Resources plc is pleased to announce the appointment of
two new Directors to the Company's Board effective from the 1st May
2020:
1. Daniel Maling - Mr Maling is based in London and is an
experienced corporate and commercial advisor, with over 20 years
advising listed companies in the natural resources sector.
2. David Clarke - Mr Clarke is based in Adelaide, South
Australia and is an eminent Australian geologist, who has been
instrumental in the discovery and development of several large
mining operations.
Both Mr Maling and Mr Clarke will serve as Non-Executive
Directors.
Furthermore, the Board has elected to appoint Greg Hancock as
Company's Chairman. Mr Hancock has over 25 years' experience in
capital markets practicing in the area of corporate finance and has
served as a non-executive director of the Company since 2018.
The Company has also been advised by Rolf Gerritsen that he
wishes to step down from the Board, it has been agreed with the
Company that this resignation will become effective on 1(st) May
2020.
Daniel Maling
Mr Maling is a member of the Chartered Accountants of Australia
& New Zealand. He has over 20 years of senior corporate and
commercial management experience primarily in the natural resource
and technology sectors. He has worked with several AIM, ASX and TSX
listed companies providing corporate finance, business development
and strategic advice. Daniel is a partner of Orana Corporate LLP,
an accounting and corporate advisory boutique based in London.
In the past five years Daniel was a director of Polemos plc
(resigned in May 2018) and Solo Oil plc (resigned February 2019),
save as stated above, there is no other information to disclose in
respect of the appointment of Daniel Maling pursuant to Listing
Rule 9.6.13.
David Clarke
Mr Clarke is a geologist with more than 50 years professional
experience and more than 25 years' experience as a director of
Australian public companies. Before public company life he was a
senior geologist with the Commonwealth Department of the Interior
and a Chief Geologist at Santos Limited.
As a director and significant shareholder in listed companies he
played a role in the discovery, development and production of the
million ounce Tuckabianna gold mine in Western Australia, the
Newrybar mineral sand mine in New South Wales, the Mud Tank
vermiculite mine in the Northern Territory, the Mindarie mineral
sand mine in South Australia and 13 oil fields in the Cooper Basin
of South Australia.
He was the founder and Chairman of Australian Vintage Limited, a
winemaking company based in the Riverland of South Australia. He
was the founder, and remains a co-owner of, Thorn-Clarke Wines, a
family-owned wine producer in the Barossa Valley of South
Australia.
There is no other information to be disclosed in respect of the
appointment of David Clarke pursuant to Listing Rule 9.6.13.
Rolf Gerritsen
Rolf has been a driving force behind the formation of the
Company and has worked tirelessly during both the listing and
relisting process. The Board wishes to thank Rolf for his service,
which has been instrumental in the Company's success.
About the Company:
Cobra is an exploration and mining company with its flagship
project, the Wudinna Gold Project located on the Eyre Peninsula in
the Central Gawler Gold Province, a 450-kilometre-long arcuate belt
in South Australia which contains numerous mineral occurrences.
The Wudinna Mineral Resource estimate, as at March 2019, for the
Barns, White Tank and Baggy Green deposits is shown below. This has
been classified and reported in accordance with the guidelines of
the JORC(2012) Code. The Mineral Resources have been reported above
a 0.5 g/t gold cut-off grade to reflect current commodity prices
and extraction by open pit mining.
Deposit Classification Tonnes Grade (g/t Gold ounces
(x1,000) gold)
Barns Indicated 410 1.4 18,000
Inferred 1,710 1.5 86,000
------------------------------ ---------- ----------- ------------
Total 2,210 1.5 104,000
------------------------------ ---------- ----------- ------------
White Tank Inferred 280 1.4 13,000
---------------- ---------- ----------- ------------
Baggy Green Inferred 2,030 1.4 94,000
---------------- ---------- ----------- ------------
Total 4,430 1.5 211,000
---------- ----------- ------------
The Company is earning a 75% interest in the Project by spending
A$5 million over a 6-year period.
Craig Moulton, Managing Director of Cobra commented:
"I would like to give a warm welcome to both Daniel and David,
and I look forward to the energy and experience that they will
bring to the Board. I would also like to thank Rolf for his
contribution over the last 18 months, he has been a key contributor
in the successful conclusion of the RTO and the acquisition of Lady
Alice Mines."
The person who arranged for the release of this information is
Craig Moulton, the Managing Director of the Company.
End
Enquiries:
+61 (0) 40 6932187
Cobra Resources plc Craig Moulton +61 (0) 8 9316 4938
Nick Emerson
SI Capital Limited (Broker) Sam Lomanto +44 (0) 14 8341 3500
--------------- -----------------------
Duncan Vasey
Peterhouse Capital Limited Lucy Williams +44 (0) 20 7469 0932
--------------- -----------------------
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END
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April 29, 2020 04:02 ET (08:02 GMT)
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