Business
Completion - Wudinna Gold Sale & Payments Received
Cobra Resources plc (LSE: COBR) announced the completion of the Wudinna Gold Assets sale and receipt of the first payment from Barton Gold Holdings Ltd (ASX: BDG). This payment totalled A$1 million, consisting of A$200,000 in cash and A$800,000 in 1,025,619 Barton Gold shares. Further payments of up to A$14 million in cash and shares are still expected, as detailed in a previous announcement. The transaction's completion triggered the first payment, enabling Barton Gold to begin exploration and resource expansion work. Barton Gold, listed on the ASX, OTCQB (BGDFF), and Frankfurt Stock Exchange (FRA: BGD3), has a market capitalization of approximately A$180 million and owns the Tarcoola, Challenger, and Tunkillia Gold Projects, aiming for an annual gold production of 150,000 ounces. Disclaimer*
About this update from Cobra Resources Plc
[{"type":"text","content":"\n\n\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT 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 \n19 August 2025\n \nCobra Resources plc\n(\"Cobra\" or the \"Company\")\n \nCompletion of Wudinna Gold Assets Sale & Payments Received\n \nFurther to the Company's announcement on 30 June 2025, Cobra (LSE: COBR), the mineral exploration and development company advancing a potentially world-class ionic Heavy Rare Earth Element (\"HREE\") discovery at its Boland Project (\"Boland\") in South Australia, is pleased to announce it has completed the sale of the Wuddina Gold Assets and received the first post-Completion cash payment and share issue from Barton Gold Holdings Ltd (ASX: BDG).\n \nPursuant to the Transaction, Cobra has to date received A$1 million, comprising A$200,000 in cash payments and A$800,000 through the issue of 1,025,619 Barton Gold shares. Details of the remaining consideration of up to a further A$14 million in cash and Barton Gold shares are set out in the 30 June 2025 announcement.\n \nRupert Verco, Managing Director of Cobra, commented:\n \n\"An important milestone, being the final granting of subdivided ELAs, has been reached, triggering the first post-Completion payments of the Transaction. We are now working through the required mechanisms for Final Settlement that will enable further cash and share payments and the Barton Gold team to commence exploration and resource expansion works from which we hope to gain further value through our Barton Gold shareholding.\"\n \nAbout Barton Gold\n \nBarton Gold is an Australian gold exploration and development company with a strategic focus on South Australia's central Gawler Craton. The company is listed on the Australian Securities Exchange (ASX: BGD), ...