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Cobra Resources PLC - exploration and mining company focused on the Wudinna gold project in Australia - Andromeda Metals Ltd and Peninsula Resources Ltd confirms that Cobra has fulfilled Stage 1 obligations entitling it to the initial 50% of the Wudinna project. Cobra will now work with Andromeda to establish formal joint venture structure to which its subsidiary, Lady Alice Mines, will acquire a 50% participating equity interest in the Project. A further announcement will be made once the joint venture has been formally established.
Current stock price: 2.70 pence
Year-to-date change: almost doubled
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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