Business
Announcement of Year End Results
Announcement of Year End Results.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 1390P\n Cobra Resources PLC\n 05 June 2020\n \n \n \n \n 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.\n \n \n For immediate release \n \n \n 05 June 2020\n \n \n \n \n \n Cobra Resources plc\n \n \n \n \n \n (\"Cobra\" or the \"Company\")\n \n \n \n \n \n Final Results for the Year Ended 31 December 2019 \n \n \n Cobra,\n an exploration and mining company announces its results for the year ended 31 December 2019.\n \n \n \n \n \n Key Highlights\n \n \n 2019 was a significant year for the Company, achieving its primary strategic objective of transforming from a cash shell to an operating business by identifying a precious or base metals project in either Australia or Africa. This included:\n \n \n 1. Completing the Lady Alice Mines acquisition.\n \n \n 2. Establishing an enviable portfolio with two quality assets, including an option over a 211,000 oz gold resource, in a secure and low sovereign risk jurisdiction. \n \n \n 3. Recruiting a management team and Board with deep resource industry experience to lead the Company's exploration efforts.\n \n \n 4. Articulating a clear exploration plan that aims to maximise value and de-risk future exploration drilling.\n \n \n \n \n \n Post-Period End Highlights\n \n \n \n \n \n · \n Successful completion of the Stage 1 soil sampling programme over Barns, Baggy Green and White Tank prospects, which established key pathfinder elements to mineralisation.\n \n \n ·\n Successful Completion of the Stage 2 soil sampling programme which identified the presence of pathfinder elements in the extension to Baggy Green, as well as a strong correlation with regional structures, and generating 2 new target areas. \n \n \n · \n Application made for ADI funding for 4 new IOCG-style targets\n \n \n · \n Actively planning the Stage 3 soils analysis, in order to finalise priority targets, in preparation for a drilling programme during the second half of 2020.\n \n \n \n \n \n \n Craig Moulton, Managing Director of Cobra\n \n \n commented:\n \n \n \n \"Notwithstanding a diffi...