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MoU to Progress Ionic Rare Earth Extraction
MoU to Progress Ionic Rare Earth Extraction.
About this update from Cobra Resources Plc
[{"type":"text","content":"\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 September 2023\n \nCobra Resources plc\n(\"Cobra\" or the \"Company\")\n \nMoU with Watercycle to Progress Ionic Rare Earth Extraction\n \nCobra, a gold, rare earth and IOCG exploration company focused on the Wudinna Project in South Australia, is pleased to advise that it has signed a Memorandum of Understanding (\"MoU\") with Watercycle Technologies Ltd (\"Watercycle\"), a UK-based deep tech company focused on developing sustainable, high-yield, low-cost, mineral extraction and water treatment systems, with the objective to collaborate on sustainable Rare Earth Elements (\"REE\") extraction via membrane desorption and filtration.\n \nMetallurgical testing performed on samples from Cobra's Boland prospect by the Australian Nuclear Scientific Technology Organisation has demonstrated high recoveries of valuable magnet REEs of up to 58%, and 65% heavy REEs at pH3 with low acid consumption, confirming REE mineralisation as highly desirable, easily extractable ionic REE mineralisation that has the added advantage of being amenable to low-cost, low-disturbance In Situ Recovery mining (\"ISR\").\n \nThe MoU is the first step in forming a partnership to progress the process for REE extraction from the Company's Boland ionic REE discovery, where innovation and flowsheet development will form the basis of commercialisation.\n \nThrough this strategy, Cobra intends to examine alternative approaches to REE extraction that suit the Company's unique and advantageous REE mineral occurrence. Watercycle, which is based out of the University of Manchester, UK, has a highly experienced technical team, with access to world-class facilities and a proven r...