Cobra Resources Plc · LSE:COBR
Cobra Resources — Investor Presentation (May 2022)
24 slides from Cobra Resources's investor presentation, May 2022
Slide 1: Developing a Unique Multi-Mineral Resource
DEVELOPING A UNIQUE MULTI-MINERAL RESOURCE MAY 2022
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR To the extent available, the industry, market and competitive position data contained in this expectations concerning, among other things, the Company's results of operations, financial DISTRIBUTION, IN WHOLE OR IN PAR
Slide 3: A Diversified Investment Opportunity
A DIVERSIFIED INVESTMENT OPPORTUNITY DIVERSIFIED PORTFOLIO Growing gold resources Unconstrained rare earth mineralisation footprint overlaying gold High-value IOCG targets Wudinna Project EXPLORATION SUCCESS Prince Alfred Significant intersections at Clarke 4 km2 of defined clay hosted rare earth mi
Slide 4: Corporate Overview
CORPORATE OVERVIEW MAJOR SHAREHOLDERS COBR £9.73M Penn Nominees Pty Ltd (Melbourne) 10.3% LSE Ticker Market Capitalisation Mr Craig P Ball & Suzanne K Ball (Adelaide) 9.8% David Clarke (Director) 9.8% 2.3p £945,000 Share Price Raised in Feb 2022 Cobra Share Price History 14 May 2022 2200 4 423,110,5
Slide 5: Board of Directors & Key Management
BOARD OF DIRECTORS & KEY MANAGEMENT GREG HANCOCK BEN HODGES CHAIRMAN COMPANY SECRETARY Over 25 years' experience in capital markets and corporate Ben is a fellow of CPA Australia with over 24 years’ experience in finance. He has extensive experience in Australia and the UK both the profession and in
Slide 6: Exposure to Multiple In-Demand Commodities in a Single Project
EXPOSURE TO MULTIPLE IN-DEMAND COMMODITIES IN A SINGLE PROJECT GOLD RARE EARTH ELEMENTS COPPER Robust asset with diverse usage. Critical minerals essential to decarbonisation Strong demand driven by electrification Current consumer usage1: due to their role in electric motor production2: and a trans
Slide 7: ESG Commitment & Supporting Decarbonisation
ESG COMMITMENT & SUPPORTING DECARBONISATION GOLD, RARE EARTHS, AND COPPER Cobra’s focus is on commodities required to advance the scaling of green mobility, renewable energy infrastructure and the overall carbon-neutral transition STABLE SUPPLY Potential to deliver sustainable and secure rare earths
Slide 8: Wudinna Project
WUDINNA PROJECT
Slide 9: Wudinna Project Three-Pronged Approach
WUDINNA PROJECT THREE-PRONGED APPROACH GOLD • JORC 2012 211,000 Oz Au Mineral Resource Estimate (MRE) • Camp scale deposits amendable to open-cut mining • Numerous intersection outside existing MRE • Non-refractory, highly recoverable gold mineralisation Clarke Barns RARE EARTHS 31m @ 3.06g/t 104,00
Slide 10: Growing Gold Adding Ounces to the Existing Mineral Resource
GROWING GOLD ADDING OUNCES TO THE EXISTING MINERAL RESOURCE CLARKE CBRC0050 33m at 1.03 g/t incl. 9m at 2.09 g/t 400m of defined gold mineralisation strike CBRC0043 Staked lodes associated with granodiorite 96m at 0.55 g/t incl. 20m at 1.5g/t intrusives (Hiltaba and Tunkillia Suite) CBRC0042 19m at
Slide 11: Complementary High-Value Rare Earth Mineralisation
COMPLEMENTARY HIGH-VALUE RARE EARTH MINERALISATION ADVANCING DISCOVERY Rare earth elements include 15 lanthanides plus scandium and yittrium Crustal elution, or Ion Adsorbed Clay (IAC) are a low-cost, low by-product source of high-value rare earths (Nd, Pr, Dy, Tb) Lower grades offset by low-cost mi
Slide 12: Low-Cost Exploration Growing a High-Value Mineral Occurrence
LOW-COST EXPLORATION GROWING A HIGH-VALUE MINERAL OCCURENCE EXCLUSIVE RARE EARTH OCCURENCE Au & REE Open 4 km2 of defined clay hosted rare earth mineralisation overlaying gold mineralisation 88% (of 126 holes) of holes analysed for rare earths yield an average intersection of 15.1m at 547 ppm TREO 6
Slide 13: Rare Earths Value Add Potential
RARE EARTHS VALUE ADD POTENTIAL REO Pricing Argus Metals >350 ppm >500 ppm Clarke Clarke C L A R K E R EO B A S K E T A S S E M B LAG E REO Suite Apr-2022 (US TREO TREO >350ppm >700ppm $/Kg) La2O3 20.1% CeO2 $ 1.5 38.6% 37.8% 34.0% 30.6% Dy2O3 $ 408 2.1% 2.1% 2.2% 2.3% Er2O3 $ 69 1.1% 1.1% 1.2% 1.2%
Slide 14: Peer Benchmarking – Rare Earth Projects
PEER BENCHMARKING – RARE EARTH PROJECTS 120 DEMONSTRATED MARKET 10 ADVANTAGE 100 $US EV / Resource (mt) Basket Value $US Kg 80 Crustal Elution (IAC) deposits yield a higher basket value 60 1 >80% of the global supply of heavy rare 40 earths are sourced from IAC deposits 20 Simplistic metallurgical f
Slide 15: Rare Earth Operations Comparison
RARE EARTH OPERATIONS COMPARISON HARD ROCK RARE EARTH MINE Material Handling Beneficiation Mine Mineral Concentration Drill & Blast Stockpile Crush & Mill 1 – 10% REO 10-50% REO Cracking Leaching Precipitation Separation Calcined RE carbonate RE oxides Leach solution Concentrate >90% REO 99% REO Har
Slide 16: Metallurgical Testing
METALLURGICAL TESTING RARE EARTH MINERALISATION CURRENT TESTWORK - ANSTO Ion exchangeable 1. Leach test with 0.5 M (NH4)2SO4 as lixiviant Rare earths occur as soluble cations, extractable by ion- • pH 4, 30 minutes exchange leaching with monovalent salts • Ambient temperature, 2 wt% solids density C
Slide 17: Anticipated Metallurgical Progression
ANTICIPATED METALLURGICAL PROGRESSION EXPECTATIONS & ADVANCEMENT OF MARKET PEERS Very low recoveries from Ion Exchange desorption from Australian projects Itech metals demonstrated recovery increases (up to 24%) through sizing beneficiation Leach results demonstrate high colloidal fraction of minera
Slide 18: IOCG Targets
Wudinna Project ICE Geophysics Targets May 2022 TARGETS
Slide 19: Maturing High-Value IOCG Targets
MATURING HIGH-VALUE IOCG TARGETS • Staged approach to prioritise targeting • Refined geophysics demonstrates shallow depths of targets • Aircore drilling to test basement (top of anomalies) for further pathfinder chemistry • Refine designs for RC drill testing • Further ground gravity planned for IO
Slide 20: 2022 Work Programme
2022 WORK PROGRAMME
Slide 21: Work Schedule
WORK SCHEDULE LOW-COST HIGH-VALUE STRATEGY 2022 Wudinna Project Works Programme Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Programme Rehabilitation Pulp Reanalysis Stage 1 - 2020 RC drilling Preliminary Results Stage 2 - Clarke Regional Stage 3 - Baggy Green Regional Stage
Slide 22: Aircore Drilling Programme
AIRCORE DRILLING PROGRAMME • Low-cost, low-disturbance drilling technique • Test saprolite zone for Rare Earth Mineralisation • Multi-element pathfinder chemistry of basement for gold and base metal mineralisation • Multi-value return from a single dataset
Slide 23: Testing Numerous Targets
TESTING NUMEROUS TARGETS • REE re-analysis results from 79 holes (1,060 samples) across 12 targets • Planned 97 aircore holes for ~6000m • Clarke: 37 Holes - Northern Strike Au and REEs • IOCGs: 12 holes – Test top of gravity anomalies • Barns and White Tank: 13 holes testing extensions and REE pote
Slide 24: cobraplc.com
cobraplc.com 213 Greenhill Road Eastwood SA 5063 Australia