Business
Interim Results
Interim Results.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6243A\n Cobra Resources PLC\n 30 September 2020\n \n \n \n \n 30th September 2020\n \n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n \n \n \n \n Cobra Resources plc\n \n \n (\"Cobra\" or \"the Company\")\n \n \n \n \n \n Interim Results\n \n \n \n \n \n Cobra Resources plc (LSE:COBR), an exploration and mining company, announces its results for the six months ended 30 June 2020. \n \n \n \n \n \n Operational Highlights\n \n \n \n \n \n The first half of 2020 has been a transformational period for the Company, having relisted on the LSE following the completion of the Reverse Take Over (RTO) on 16th January 2020. Since that time, the Company has successfully progressed exploration activities at its flagship Wudinna Gold Project. The highlights of the Company's exploration activities during the period included:\n \n \n \n \n \n ·\n Completion of the 3-phase geochemical sampling and re-assay programme to establish key pathfinder relationships and define high priority drilling targets;\n \n \n · \n Structural interpretation and integration of geophysical and geochemical data to establish primary controls on mineralisation;\n \n \n · \n Application for an Ongoing PEPR to facilitate exploration programmes across all 22 orogenic gold prospects and 4 IOCG prospects. The exploration permit was subsequently approved post period end; and\n \n \n · \n Definition of priority drill targets at Baggy Green, Baggy Green North, Clarke and Laker prospects.\n \n \n \n \n \n As a result of the above activities, the Company is on track to complete its Stage-1 JV earn-in during the second half of 2020. This will see the Company secure a 50% interest in the Wudinna Gold Project.\n \n \n \n \n \n Corporate and Financial Highlights\n \n \n \n \n \n · \n The Company completed a RTO and was readmitted to the Main Market of the LSE on the 16th January 2020, following the successful acquisition of the now wholly owned subsidiary Lady Alice Mines in 2019.\n \n \n · \n Since relisting, a significant improvement in the gold market enabled the Company to raise funds to support its planned exploration programmes. The Company was able to place its available headroom rais...