Business
Update on RTO and Re-Listing of Company
Update on RTO and Re-Listing of Company.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8534X Cobra Resources PLC 23 December 2019 \n\nTHIS 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.\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.\nFor immediate release \n23 December 2019\n \nCobra Resources plc\n \n(\"Cobra\" or the \"Company\")\n \nUpdate on Reverse Take Over of Lady Alice and Re-Listing of the Company\nCobra, is an exploration, development and mining company which today announces an update on its reverse take-over (\"RTO\") of Lady Alice Mines Pty Ltd and its re listing on the London Stock Exchange.\nLady Alice Mines Pty Ltd is the sole owner of:\n- 100% of right title and interest in South Australian Exploration Licence Number 6016 (the \"Prince Alfred Licence\") a formerly producing copper mine (the \"Prince Alfred Mine\"); and\n \n- an entitlement to earn a 75% equity interest in 5 large tenements near Wudinna in South Australia (the \"Wudinna Project\") for gold exploration. \nThe Wudinna Project is located on the Eyre Peninsula in the Central Gawler Gold Province, a 450-kilometre-long arcuate belt in South Australia which contains numerous mineral deposits and prospects.\n \nIn November the Company announced a three-stage geochemical sampling programme with the aim of improving the definition of targets at Wudinna prior to drilling, reducing spend and improving target definition.\n \nProspectus and Re-Admission:\nAs part of the RTO the Company has conducted a placing (subject to Admission) to raise £613,300 and has filed a prospectus with the FCA. The Company expects a Prospectus to be published and Admission to take place in early January 2020. Timing and Admission remain subject to regulatory review and approvals.\n \nPhase 1 Sampling Programme:\nThe Company has been advised that all necessary access permissions and landowner consents to conduct the Phase 1 sampli...