Cobra Resources Plc · LSE:COBR
Cobra Resources — Investor Presentation (May 2023)
26 slides from Cobra Resources's investor presentation, May 2023
Slide 1: Defining a Unique Multi-Mineral Resource
DEFINING A UNIQUE MULTI-MINERAL RESOURCE MAY 2023
Slide 2: Disclaimer
DISCLAIMER THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN To the extent available, the industry, market and competitive position data contained in this the environment in which the Company will operate in the future. Forward-looking statements WHOLE OR IN PAR
Slide 3: Corporate Overview
CORPORATE OVERVIEW COBR 1.70p 515,249,550 £8.75M OPTIONS £1,300,000 LSE Ticker Share Price Ordinary Shares Market Capitalisation 3p (2025) 44.5M Raised in October May 2023 Director (2025) 15.7M 2022 Cobra Share Price History Distribution of Shareholders 2200 4 Other Foreign Brokers 6% 2000 3.5 5% 3
Slide 4: Board of Directors & Key Management
BOARD OF DIRECTORS & KEY MANAGEMENT GREG HANCOCK RUPERT VERCO CHAIRMAN CHIEF EXECUTIVE OFFICER & BOARD DIRECTOR Over 25 years' experience in capital markets and corporate A mining specialist with over 15 years’ experience in Australia and finance. He has extensive experience in Australia and the UK
Slide 5: ESG Commitment & Supporting Decarbonisation
ESG COMMITMENT & SUPPORTING DECARBONISATION GOLD, RARE EARTHS, AND COPPER Cobra’s focus is on growing resources and exploring for commodities required to advance the scaling of green mobility, renewable energy infrastructure and the overall carbon-neutral transition ENVIRONMENTAL AND INTERGRATED SOU
Slide 6: The Economic Necessity for Rare Earth Projects
THE ECONOMIC NECESSITY FOR RARE EARTH PROJECTS RARE EARTH ELEMENTS Critical minerals essential to decarbonisation due to their “Rare earths are contrarily both the bottleneck and enabler for energy transition role in electric motor production Permanent magnets produced with Nd / Pr / Dy / Tb in our
Slide 7: Rare Earths – Driving Energy Efficiency
RARE EARTHS – DRIVING ENERGY EFFICIENCY RARE EARTH MEATALS USED TO MAKE EACH: BRUSHLESS DRILL 0.1KG ELECTRIC VEHICLE 0.5KG F35 0.4T ARLEIGH BURKE DDG-51 2.4T VIRGINIA CLASS SUB SSN-774 4.2T
Slide 8: Wudinna Project
WUDINNA PROJECT A SIGNIFICANT LANDHOLDING IN A TIER- 1 MINING JURISDICTION WITH EXPOSURE TO A WIDE RANGE OF COMMODITIES IN A SINGLE PROJECT
Slide 9: Wudinna Project - Three-Pronged Approach
WUDINNA PROJECT - THREE-PRONGED APPROACH 3,261 KM2 LANDHOLDING WITHIN THE WORLD-CLASS GAWLER CRATON GOLD • JORC 2012 211,000 Oz Gold Mineral Resource Estimate ("MRE") • Camp scale deposits suitable for open-cut mining • Numerous intersections outside existing MRE Clarke • Non-refractory, highly reco
Slide 10: REEs - A Complementary Opportunity
REEs - A COMPLEMENTARY OPPORTUNITY COMPLEMENT EXISTING GOLD ASSETS AND ASSIST IN FUTURE RESOURCE GROWTH Growing MRE of 211,000 Oz of gold Clay hosted REEs overlie existing gold resources Structural, chemical and spatial association to defined gold mineralisation Dual exploration strategy to advance
Slide 11: Project Underpinned by a Growing Gold Resource
PROJECT UNDERPINNED BY A GROWING GOLD RESOURCE FOUNDATION FOR FURTHER GROWTH Growing MRE of 211,000 Oz of gold at 1.5 g/t Au Resource comprised of three, shallow camp scale prospects Simple metallurgy: >96% Recoveries via gravity and cyanide leach Mineralisation intersected beyond resource at all pr
Slide 12: Unique Upside – A Complementary REE Resource
UNIQUE UPSIDE – A COMPLEMENTARY REE RESOURCE EXCLUSIVE RARE EARTH OCCURRENCE Defined through analysis of historic drilling; low-cost approach to adding value Maiden resource of 20.9Mt at 658ppm TREO (155 ppm MREO) Overlies 94K Oz Au resource at Baggy Green and 700m of Au strike at Clarke Exceptional
Slide 13: A Technical Strategy to Optimise Metallurgy
A TECHNICAL STRATEGY TO OPTIMISE METALLURGY METALLURGICAL FOUNDATION Increasing high value REEs Recoveries increase with a reduction in pH and with increasing leach period Ion Exchangeable Colloid Phase Mineral Phase MREO recoveries up to 34.7%, pH1 (H2SO4) (to lithium borate fusion assays) Increase
Slide 14: Wudinna Project - REE Mineralogy
WUDINNA PROJECT - REE MINERALOGY SEM ANALYSES – UniSA Samples from CBRC0042 Primary REE mineral phases: zircon, titanite, apatite, andradite, epidote Secondary REE mineral phases: monazite, basanite, allanite, rutile REE enrichment in source rock associated with Hiltaba intrusive alteration Phosphat
Slide 15: Identifying Ionic Adsorption Potential
IDENTIFYING IONIC ADSORPTION POTENTIAL IDENTIFYING EXOGENISIS CONDITIONS Alteration associated with Hiltaba Age intrusive enriched in REEs Changes in REE mineral phases hard rock – saprock – saprolite Clays with high adsorption capacities Variable to low levels of phosphates pH > 7 promotes hydrolyi
Slide 16: Proposed Model for Wudinna Gold Associated REEs
PROPOSED MODEL FOR WUDINNA GOLD ASSOCIATED REEs Au supergene enrichment and sulphide weathering Smectite, ilmenite clays NW trending redial shear structures Regolith Upper Saprolite REE leaching, Lower <7pH mobilisation and >7pH physisorption via saprolite Epidote alteration halo redox progression M
Slide 17: Developing an Alternate Exploration Model
DEVELOPING AN ALTERNATE EXPLORATION MODEL pH variability and TREO abundance downhole CBAC0028 REE ASSOCIATION TO PH CONDITIONS 1400 12 1200 11 10 1000 9 TREO ppm 8 800 7 Field test pH readings incorporated with REE pH 6 600 5 dataset to assess the associations between REE 4 400 3 occurrence and acid
Slide 18: Adding Value Potential Through Technical Analysis
ADDING VALUE POTENTIAL THROUGH TECHNICAL ANALYSIS Impact of REDOX chemistry on REE grade and distribution 2000 METALLURGICAL UPSIDE THROUGH GEOLOGICAL UNDERSTANDING 1800 18% 1600 Other • Extensive data collation and analysis critical in HREO+Y identifying variability and target potential 1400 • Robu
Slide 19: Palaeochannel Hosted REEs
PALAEOCHANNEL HOSTED REEs AN ALTERNATE GEOLOGICAL MODEL FOR INOIC REEs PROPOSED MODEL FOR WUDINNA PALAEOVALLEY IONIC REES Strongly reduced and sulphidic clays and channel sands, lignite and clay interbeds within significant palaeo-drainage system Vertically defined REDOX boundaries REGOLITH Over 65k
Slide 20: Boland Drilling – The Right Conditions for Ionic REEs
BOLAND DRILLING – THE RIGHT CONDITIONS FOR IONIC REEs ALLUVIAL SANDS REDUCED SANDS ALLUVIAL SANDS REDUCED CLAYS REDUCED SANDS HIGHLY REDUCED REDUCED CLAYS CLAYS, FINE SANDS & LIGNITES OXIDISED SANDS HIGHLY REDUCED CLAYS, FINE SANDS & LIGNITES KAOLINISED SAPROLITE KAOLINISED SAPROLITE
Slide 21: 2023 Operational Strategy
2023 OPERATIONAL STRATEGY Q1 23 Q2 23 Q3 23 Q4 23 Maiden REE MRE RC drilling Aircore drilling Assay results REE metallurgy Gold & REE MRE update Scoping study
Slide 22: Investment Rationale
INVESTMENT RATIONALE A UNIQUE CLAY HOSTED REE OCCUANCE Complementary REE and Gold JORC mineral resources with significant growth potential ESG aligned through adding value through overburden ADVANCED UNDERSTANDING OF REE MINERALOGY Understanding of REE mineral phases Proven metallurgical potential:
Slide 23: cobraplc.com Contact Details
cobraplc.com 213 Greenhill Road Eastwood SA 5063 Australia
Slide 24: Wudinna Project - JORC (2012) Mineral Resources
WUDINNA PROJECT - JORC (2012) MINERAL RESOURCES 2019 RESOURCE ESTIMATE *Not inclusive of exploration results reported in 2020, 2021, 2022 and 2023 GRADE DEPOSIT CLASSIFICATION TONNES GOLD OZ (g/t Au) Barns Indicated 410,000 1.4 18,000 Barns Inferred 1,710,000 1.5 86,000 White Tank Inferred 280,000 1
Slide 25: Wudinna Project - JORC (2012) Mineral Resources
WUDINNA PROJECT - JORC (2012) MINERAL RESOURCES 2023 REE CLARKE AND BAGGY GREEN RESOURCE ESTIMATE PROSPECT & TONNES TREO MREO LREO HREO Pr6O11 Nd2O3 Dy2O3 Tb4O7 CATEGORY Mt ppm ppm ppm ppm ppm ppm ppm ppm CLARKE 14.1 685 166 544 141 32.5 116.2 14.7 2.6 BAGGY GREEN 6.8 597 132 453 144 25.7 89.8 14.0
Slide 26: Competent Person's Statements
COMPETENT PERSON’S STATEMENTS The information relating to Exploration Results and Mineral Resources in this presentation is extracted from the Company’s Prospectus dated 26 October 2022 (Prospectus) and Cobra LSE announcements as cross-referenced in the body of this presentation. A copy of the Prosp