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Shipwreck Sheep, his totally correct in his postings
Simpley in 2011 Andromeda dilled for uranium in Naraby palaeochannel
Cobra drilling there results similar to boland
No mention of uranium but would be welcome
Yeah, there are uranium projects around there, but it's the same paleochannel as Boland and the reason these tenements were applied for is the similar mineralisation to Boland, which they also stated clearly in the RNS about the new tenements:
"Tenements EL 6966 ("Smokey Bay") and EL 6967 "(Pureba") cover over 1,000 km2 of the Narlaby Palaeochannel where previous uranium focused drilling encountered playa clays which are analogous to Boland mineralisation over extensive areas"
The previous uranium-focused drilling is almost certainly the one done by Adelaide Resources (which then became Andromeda, the company that Cobra got the Wudinna tenements from) in 2011 and no uranium mining came from it (see here on proactive investors):
https://www.proactiveinvestors.co.uk/companies/news/147840/adelaide-resources-and-quasar-resource-start-drilling-for-south-australian-uranium-20877.html
Nothing to say it can't be that the 2011 uranium drilling campaign missed a big deposit, but let's be real, it's very unlikely that a uranium deposit is found by chance, if we get one, amazing, believe me, I'd be over the moon with >3% of the Cobra shares held by me. But the reason tenements in the Narlaby paleochannel have been picked up is the similar mineralogy to Boland and to expand the potential ionic REE resource that way.
I think what Ken or Orion was referring to are our additional EL applications further up the Narlaby paleo channel - these are a long way north west of Boland.
The area right between our 2 (39 & 40) has a large uranium play on the cards is all.
Could be good for us further in the future is all…
Must admit to being out of touch with what's going on with Cobra, so thanks for the update. Just a punt for me.
Yes mr tin man
Mr litheum man
Mr uranium man
Yeah, Richy, it's part of the deal for getting the remaining 25% of project ownership from them, number in the TR-1 coincides exactly with the number of consideration shares (p6 here): https://cobraplc.com/wp-content/uploads/2023/11/Circular.pdf
Also think talking a lot about uranium makes no sense. The additional tenement has been added because it's in the same paleochannel as Boland, the historic drill samples are tested for firming up REE conviction at Boland. I'd love it if Ken was right and there was an economic uranium resource around the tenements as well, but you've seen this all before if you were here long enough, 3 years ago it was "i'm really excited about tin potential that the company has", 2 years ago it was "when i recommended that we take on Wudinna, it was for the gold, but finding REE is super exciting" (at the time he had listed REE as one of his focus areas on his Twitter), 1 year ago it was "REE is worth zero, company should get rid of it and buy up a lithium project, it's all about lithium, nothing else matters" (at the time he had dropped REE from his Twitter and added lithium instead), now it's "could have uranium!" (after dropping lithium from his Twitter)...it still seems mostly like talking his own book, and even though I think he's an experienced person in mining and has interesting opinions, everyone who remembers all of the dozens of comments last year how "taking on a lithium project is the only way" while now no mention about how wrong that would have been in his posts, has to take these things with a pinch of salt. Please let's focus on what we know we have and what has been communicated by the company as plan for H1 2024, proving up the scale and ISR-suitability of a very exciting REE deposit at Boland.
Correct.
I might be wrong but is this not just part of the Cobra agreement with Andromeda when Cobra agreed to own 100% of Wudinna?
Andromeda Metals do seem to know something we don't. The hot money in Australia has moved from Lithium to Uranium recently.
Uranium potential in South Australia
https://themarketbull.com.au/2023/11/13/elevated-uranium-demand-fuels-development-in-south-australia/amp/
Interesting to note then that Andromeda Metals have just taken a near 8% stake in Cobra. What do they know?
Love your enthusiasm, Ken! Would be a surprise given that the paleochannel was drilled for uranium initially by Adelaide Resources (now of course Andromeda Metals) all these years ago - but hey, if there's uranium there that can also be mined with ISR techniques in addition to the heavy rare earths, that would indeed be amazing
You bet -it's all from left field - but I have never seen the fundamentals for uranium like this in my 86 years . And the palaeos there look mighty promising. Tight capital -not many shares on issue- in South Australia a big U province - this can really fly. If U goes to $150 lb hang on to your hat.
Good spot Orion. Looks like our 2 additional tenements up there sit adjacent & either side of ISOs area - could bode well for future value 👍
So you think there is a genuine shot at Uranium here and that is what RV is homing in on with his paleochannel research?
If that’s the case perhaps my recent position taken here is well timed…..
Now we have a really HOT project with EL 6967 at Pureba immediately adjoining ISO Energy with historical U grade of 3550 ppm uranium at Yarranna. Pinnacle Resources (PIM) announced granting of their tenement adjacent -info on ASX and that has highlighted their proximity to Yarranna and in turn Cobra are smack bang up against Yarranna 4 with historical grades to 500 ppm. Note that Rupe is researching historical drilling in the palaeochannel. I would post all the maps but can't do on here so check out ISO on TSX who merged with Consolidated Uranium -all the history of Yarranna. And now Cobra and Pinnacle on the same palaeochannel. With uranium over $100 lb as luck would have it Cobra is now nicely positioned at Yarranna. I am in the NT pegging more U too north of Alice Springs. Its goodbye Mrs Lithium and hello Miss Uranium a real pretty girl in this nuclear renaissance.
Prospectus now out… 74 million pennies printed and we should be good to go.
Full steam ahead!
🇦🇺 underlined its commitment to #rareearths by investing in new R&D.
Supporting REE R&D is key to 🇦🇺 becoming a global clean energy supplier. With 🇦🇺’s only ionic REE discovery with in situ recovery potential, #COBR can help the @ausgov
meet its goals.
https://twitter.com/Cobra_Resources/status/1746826284942917933
https://www.minister.industry.gov.au/ministers/king/media-releases/boost-critical-minerals-and-rare-earths-research
Forecast for 2024 mining company's to come good
Cobra-Resource & Golden-Metal-Resources
Dyor
Come on guys, when did the company first come across rare earths on the tenements? End of 2021, right? I don't think there's a single mining company on planet Earth that brought an initial discovery into production in just over 2 years, let alone an exploration company, and - at least in my opinion - by saying "dig the stuff up", you're insinuating that they should be able to mine the minerals by now, and if anything creating negative sentiment. Why? Do you genuinely think Cobra should be able to mine and sell rare earths a mere 2 years after discovery? Which company can?
As far as I'm concerned, they're doing everything right in the past months, from a placing at a premium (at a time when a range of other explorers struggle to raise funds at all), to obtaining 100% ownership of the project, to forming a useful partnership with a company with ISR expertise, to picking up prospective tenements with similar features as Boland. I get it, when you see there's a new RNS, you hope for goal-post-moving news, but ask yourself the question: IF Boland turns out to be all of what Rupert and co hope for (and seem quite confident in), will you not be happy that the company also picked up these tenements with similar features to it? All very welcome news in my opinion, and also sounds like we get more news this month
Im 82, less time to wait mmmm
IM 60 cant wait that long lol