Cobra Resources PLC Director Shareholding

RNS Number : 2052H

Cobra Resources PLC

07 October 2024

 

THIS 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.

 

NOT 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.

 

7 October 2024

 

Cobra Resources plc

("Cobra" or the "Company")

 

Director Shareholding

 

Cobra (LSE: COBR), the mineral exploration and development company advancing a potentially world-class ionic Rare Earth Elements ("REEs") discovery at its Boland Project in South Australia, announces it received notification on 7 October 2024 that David Clarke, Director, Business Development and Asset Marketing of the Company, bought on 3, 4 and 7 October 2024 a total of 1,250,000 ordinary shares of nominal value 1 pence each in the capital of the Company ("Ordinary Shares").

 

Following these transactions, Mr Clarke is now interested in 70,717,353 Ordinary Shares, which represents 9.73% of the Company's issued Ordinary Share capital. The notification shown below, made pursuant to Article 19(3) of the Market Abuse (Amendment) (EU Exit) Regulations 2019 (SI 2019/310), provides further details.

 

Enquiries:

 

Cobra Resources plc Rupert Verco (Australia) Dan Maling (UK)	via Vigo Consulting [phone]
SI Capital Limited (Joint Broker) Nick Emerson Sam Lomanto	[phone]
Global Investment Strategy (Joint Broker) James Sheehan	[phone] [e-mail]
Vigo Consulting (Financial Public Relations) Ben Simons Kendall Hill	[phone] [e-mail]

 

The person who arranged for the release of this announcement was Rupert Verco, Managing Director of the Company.

 

About Cobra

 

In 2023, Cobra discovered a rare earth deposit with the potential to re-define the cost of rare earth production. The highly scalable Boland ionic rare earth discovery at Cobra's Wudinna Project in South Australia's Gawler Craton is Australia's only rare earth project amenable for in situ recovery (ISR) mining - a low cost, low disturbance method. Cobra is focused on de-risking the investment value of the discovery by proving ISR as the preferred mining method which would eliminate challenges associated with processing clays and provide Cobra with the opportunity to define a low-cost pathway to production.

 

Cobra's Wudinna tenements also contain extensive orogenic gold mineralisation, including a 279,000 Oz gold JORC Mineral Resource Estimate, characterised by low levels of over-burden, amenable to open pit mining.

 

Regional map showing Cobra's tenements in the heart of the Gawler Craton

 

 

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1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Clarke
2	Reason for the notification
a)	Position/status	Board Director Director, Business Development and Asset Marketing
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cobra Resources plc
b)	LEI	213800XTW5PLLK72TQ57
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument  Identification code	Ordinary shares of 1 pence each ISIN GB00BGJW5255
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.299 pence 250,000
d)	Aggregated information	N/A (Single transactions)
e)	Date of the transaction	7 October 2024
f)	Place of the transaction	XLON
a)	Description of the financial instrument, type of instrument  Identification code	Ordinary shares of 1 pence each ISIN GB00BGJW5255
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.24 pence 350,000
d)	Aggregated information	N/A (Single transactions)
e)	Date of the transaction	4 October 2024
f)	Place of the transaction	XLON
a)	Description of the financial instrument, type of instrument  Identification code	Ordinary shares of 1 pence each ISIN GB00BGJW5255
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.229 pence 650,000
d)	Aggregated information	N/A (Single transactions)
e)	Date of the transaction	3 October 2024
f)	Place of the transaction	XLON

 

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