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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.
24 February 2025
Cobra Resources plc
("Cobra" or the "Company")
Change of a Significant Shareholder
Cobra (LSE: COBR), the mineral exploration and development company advancing a potentially world-class ionic Rare Earth Elements ("REEs") discovery at its Boland Project ("Boland") in South Australia, announces a change of a significant shareholder.
Ausum Pty Ltd has informed the Company that it has acquired the 52,010,000 ordinary shares held by Peninsula Resources Pty Ltd (Andromeda Metals Ltd) in an off-market transfer. Following the transaction, Ausum Pty Ltd holds 6.50% of the issued capital of the Company.
The TR-1: Standard Forms for notification of major holdings follow in the appendix below.
Greg Hancock, Chairman of Cobra, commented:
"We are very pleased to welcome Ausum Pty Ltd, a sophisticated shareholder with long term objectives, to our register. Cobra is working to define a low cost and simply unique critical mineral asset at Boland with potential strategic importance. The ability to attract a new shareholder to acquire a large block of shares reflects the opportunity. We thank Andromeda Metals for the initial opportunity to earn-in to the Wudinna Project and wish them all the best in financing and bringing their Great White Kaolin project into production."
Enquiries:
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Cobra Resources plc Rupert Verco (Australia) Dan Maling (UK)
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via Vigo Consulting +44 (0)20 7390 0234
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SI Capital Limited (Joint Broker) Nick Emerson Sam Lomanto
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+44 (0)1483 413 500
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Global Investment Strategy (Joint Broker) James Sheehan |
+44 (0)20 7048 9437 james.sheehan@gisukltd.com |
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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 enabling bottom quartile recovery costs without any need for excavation or ground disturbance. Cobra is focused on de-risking the investment value of the discovery by proving ISR as the preferred mining method and testing the scale of the mineralisation footprint through drilling.
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
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/cobraresourcesplc
X: https://twitter.com/Cobra_Resources
Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here: https://investors.cobraplc.com/
Subscribe to our news alert service: https://investors.cobraplc.com/auth/signup
APPENDIX
Form TR1
1. Issuer Details
ISIN GB00BGJW5255
Issuer Name COBRA RESURCES PLC
UK or Non-UK Issuer UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name Ausum Pty Ltd
City of registered office (if applicable) Melbourne Victoria
Country of registered office (if applicable) Australia
4. Details of the shareholder
|
Name |
City of registered office |
Country of registered office |
|
Ausum Pty Ltd |
Melbourne Victoria |
Australia |
5. Date on which the threshold was crossed or reached
23-Feb-2025
6. Date on which Issuer notified
24-Feb-2025
7. Total positions of person(s) subject to the notification obligation
|
|
% of voting rights attached to shares (total of 8.A) |
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2) |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer |
|
Resulting situation on the date on which threshold was crossed or reached |
6.502294 |
0.000000 |
6.502294 |
52,010,000 |
|
Position of previous notification (if applicable) |
0.000000 |
0.000000 |
0.000000 |
0.000000 |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
|
Class/Type of shares ISIN code (if possible) |
Number of direct voting rights (DTR5.1) |
Number of indirect voting rights (DTR5.2.1) |
% of direct voting rights (DTR5.1) |
% of indirect voting rights (DTR5.2.1) |
|
GB00BGJW5255 |
52,010,000 |
0 |
6.502294 |
0.000000 |
|
Sub Total 8.A |
52,010,000 |
6.502294% |
||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Number of voting rights that may be acquired if the instrument is exercised/converted |
% of voting rights |
|
|
|
|
|
|
|
Sub Total 8.B1 |
|
|
|
|
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Physical or cash settlement |
Number of voting rights |
% of voting rights |
|
|
|
|
|
|
|
|
Sub Total 8.B2 |
|
|
|
||
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
|
Ultimate controlling person |
Name of controlled undertaking |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
|
|
|
|
|
|
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
24 February 2025
13. Place Of Completion
Melbourne, Victoria, Australia
**********************************************************************************
Form TR1
1. Issuer Details
ISIN GB00BGJW5255
Issuer Name COBRA RESURCES PLC
UK or Non-UK Issuer UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name Andromeda Metals Limited
City of registered office (if applicable) Adelaide, South Australia
Country of registered office (if applicable) Australia
4. Details of the shareholder
|
Name |
City of registered office |
Country of registered office |
|
Peninsula Resources Pty Ltd |
Adelaide, South Australia |
Australia |
5. Date on which the threshold was crossed or reached
23-Feb-2025
6. Date on which Issuer notified
24-Feb-2025
7. Total positions of person(s) subject to the notification obligation
|
|
% of voting rights attached to shares (total of 8.A) |
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2) |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer |
|
Resulting situation on the date on which threshold was crossed or reached |
0.000000 |
0.000000 |
0.000000 |
0.000000 |
|
Position of previous notification (if applicable) |
6.502294 |
0.000000 |
6.502294 |
52,010,000 |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
|
Class/Type of shares ISIN code(if possible) |
Number of direct voting rights (DTR5.1) |
Number of indirect voting rights (DTR5.2.1) |
% of direct voting rights (DTR5.1) |
% of indirect voting rights (DTR5.2.1) |
|
GB00BGJW5255 |
0.000000 |
0 |
0.000000 |
0 |
|
Sub Total 8.A |
0 |
0.000000% |
||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Number of voting rights that may be acquired if the instrument is exercised/converted |
% of voting rights |
|
|
|
|
|
|
|
Sub Total 8.B1 |
|
· |
|
|
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Physical or cash settlement |
Number of voting rights |
% of voting rights |
|
|
|
|
|
|
|
|
Sub Total 8.B2 |
|
|
|
||
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
|
Ultimate controlling person |
Name of controlled undertaking |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
|
Andromeda Metals Limited |
Peninsula Resources Pty Ltd |
6.502294 |
0.000000 |
6.502294 |
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
24 February 2025
13. Place Of Completion
Adelaide, South Australia
On February 23, 2025, Ausum Pty Ltd acquired 52,010,000 ordinary shares in Cobra Resources plc from Peninsula Resources Pty Ltd (Andromeda Metals Ltd) via an off-market transfer. Following this transaction, Ausum Pty Ltd holds 6.50% of the issued capital of Cobra Resources plc.
| Date | 24 Feb 2025 |
| Time | 09:18:36 |
| Category | Holding(s) in company |
| ID | 1944Y |