Cobra Resources PLC - South Australia-focused gold, rare earth, and iron-oxide-copper-gold explorer - Completes 800 metres of reverse circulation drilling at its Wudinna project in South Australia, since the drilling programme began in mid-October. Results from the programme are expected within the next six weeks and will contribute towards an expanded gold mineral resource estimate. Also expects the results will highlight the ‘value-add potential’ that rare earths provide to the project. Says its maiden rare earths mineral resources estimate remains on track for this month.

Firm curtails the rest of the reserve circulation programme due to extreme rainfall in order to avoid cost overruns and facilitate access to a larger rig and work programme. Drill rig has been booked for late February.

Current stock price: 1.59 pence, up 2.6% in London on Monday afternoon

12-month change: up 6.0%

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