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.
12 July 2024
Cobra Resources plc
("Cobra" or the "Company")
Director Shareholding
Cobra (LSE: COBR), an exploration company advancing a strategy to lower the cost of critical rare earth production at the Boland Project in South Australia, announces it received notification on 12 July 2024 that on 11 July 2024, David Clarke, Director, Business Development and Asset Marketing of the Company, bought 1,406,387 ordinary shares of nominal value 1 pence each in the capital of the Company ("Ordinary Shares").
Following this transaction, Mr Clarke is now interested in 69,467,353 Ordinary Shares, which represents 9.56% 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 +44 (0)20 7390 0234
|
| SI Capital Limited (Joint Broker) Nick Emerson Sam Lomanto
| +44 (0)1483 413 500
|
| Global Investment Strategy (Joint Broker) James Sheehan
| +44 (0)20 7048 9437 james.sheehan@gisukltd.com |
| Vigo Consulting (Financial Public Relations) Ben Simons Kendall Hill | +44 (0)20 7390 0234 cobra@vigoconsulting.com |
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 potentially open-pitable, high-grade gold intersections.
Regional map showing Cobra's tenements in the heart of the Gawler Craton
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 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)
|
| ||||
| d)
| Aggregated information
| N/A (Single transactions)
| ||||
| e) | Date of the transaction | 11 July 2024 | ||||
| f) | Place of the transaction | XLON | ||||
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