Cobra Resources PLC - exploration and mining company focused on the Wudinna gold project in Australia - Plans to complete three exploration programs in the second half of 2020, including 45 reverse circulation holes and up to 6,750 metre of drilling. Aims to build towards an initial target of a 1 metre ounce gold resource. Expects to achieve its Stage 1 earn-in commitment with joint venture partner, Andromeda Metals Ltd, of AUD2.1 million, around GBP1.2 million, shortly after the completion of the first program. This will see the company secure it's initial 50% stake in the Wudinna gold project. Does not expect travel restrictions to hurt the planned drilling.
Current stock price: 2.08 pence
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Cobra Resource. (COBR)