Member Info for RichyRich1

Arguably the most important pivotal transformational news that could be released by Cobra to date and the market just shrugs, nothing to see here.

Madness!!

I don’t envy Rupert’s to do list!

I think the next RNS is going to be fairly comprehensive covering a lot of outstanding news.

If anyone has designed or revamped their business website they appreciate how time consuming generating/tweaking/updating content is so if Rupert’s currently working on that too (which has been alluded to) he’s incredibly busy just now juggling multiple things.

Taken from 14th October RNS so still a lot to look forward to!

Metallurgical Optimisation:

· Acid generation studies aimed at reducing the acid required to recover REEs: 1-2 weeks

· Ce and La reduction: 2-3 weeks

· Impurity removal: 3-4 weeks

· Product quality: 4-6 weeks

· Outcomes of offtake testing: 3-12 months

Field Studies:

· Pump and tracer permeability studies: Planned to commence later this month once the final discharge permit is received, results within 3-6 weeks

· Infield pilot study: 6-12 months

· Environmental baseline and impact assessments: ongoing

Tristar Acquisition

· Transfer of Native Title Mining Agreement (NTMA) - in process

· Transfer of Tenure (Acquisition completion) (contingent upon the above) - Expected to take 1-3 months

· EPEPR Submission (contingent upon the above) - Expected to take 1-2 months

Resource & Project Economics

· Boland extensional drilling (late November - December)

· Regional Drilling (contingent upon the completion of the TriStar acquisition)

Not taken from RNS but drilling at Blue Rose is due to commence this month too!

Is the interview imminent?

From the latest presentation both were scheduled for around February 2026 but I think this might be pushed back slightly due to the delay in getting the transfer of title finalised for the new tenements to be able to drill.

https://res.cloudinary.com/investorhub/raw/upload/v1758551504/leaf-prod/234/documents/Cobra_Resources_South_Australia_Critical_Minerals_Company_September_2025_FULL_VERSION_x7civr.pdf

Everyone has a reason for selling but I’m a little surprised why a holder would want to sell given what’s planned for the next 4-5 months.

I suppose looking at the news flow the really exciting news (hopefully) will probably be December onwards.

With saying that not sure how much merit the market will give to In-Field permeability studies and pump tests coming back as positive but for me this is a biggie as it’s the first step to proving the concept works in the field so a big deal.

Positive results I reckon the SP will hold further to ongoing fieldwork, negative results SP will get hammered!

Maybe that’s why some are selling out and will pile back in after positive results from the fieldwork?

Quite a few chunky trades today and difficult to figure out whether mainly buys or sells!

Wonder if these type of trades will dry up after the 26th.

Not long before we find out I suppose.

Do you think the board will RNS on Monday confirming how warrants were exercised?

As per usual clear as mud with lots of innuendo with what might come to pass but never quite does. Why do I always feel like AB has his fingers crossed behind his back when he releases news!!??

Jesus talk about an obsession! Sunday morning 08:53!! Im a genuine shareholder (not a token gesture share holder that thinks having a minimal holding, if even that, justifies the endless rabbiting on).

You really need help Banbury.

Let’s see if you can hold off posting before 08:00 tomorrow or do you have it set as a reminder must post on RRR bulletin board before market opens!?

Give it a rest for goodness sake.

Coppernico Metals might be worth taking a look at Ship for reference to an early stage copper/gold skarn project.

https://coppernicometals.com/

I can’t quite get the shares in issue to tally so obviously missing something but on 09.09.25 there was 877,863,899 shares in issue.

On that same date we were informed 1,084,783 warrants had been exercised at 2.3p and 1,666,667 exercised at 3p.

Shares in issue 880,615,349.

Half year report we were informed 22,290,196 warrants had been exercised to date so I’m assuming that includes the warrants from the 9th September therefore shares in issue 900,154,095?

Today we are informed there’s 901,654,095 shares in issue which would suggest another 1,500,000 warrants have been exercised since the half year report was released?

From the block listing applied for (47,698,117) there’s still 23,907,921 warrants to be exercised.

Given the drag the warrants appear to have had on the SP since the 9th September RNS this is why I’m still convinced the outstanding warrants still to be exercised is holding us back as there’s still the same amount to exercised as there already has been confirmed to date!

Could be totally wrong but I think after the 26th October we’ll start to see momentum building considerably tying in coincidentally when the real news flow will commence.

Maybe the timetable of works has been created in such a way that the really exciting news will be landing after the warrants have expired!?

Total speculation on my part!

The 3p warrant exercise price is acting like a traction beam for the SP!

Price action has been suppressed ever since warrants RNS early September. I think this will continue until 26th October when the warrants expire then hopefully we’ll be let off the leash!!

As per RNS 26th August 2025 - Option Period: 12 months from commencement date so the board have up to August 2026 to exercise option.

Looks like they’ve already made up their mind and want to fast track exercising the option.

Latest presentation outlining strategy at Manna Hill looks like the board want share holder approval to exercise the option around January 2026 before Skarn MRE at Blue Rose is going to be released the following month.

David Clarke will be granted $1,000,000 shares in Cobra upon Cobra obtaining shareholder approval to exercise the option.

So hopefully the following is going to happen…

1. Shareholders approve

2. Option exercised

3. David Clarke gets $1,000,000 of Cobra shares

4. Skarn MRE is released sending the SP through the roof (hopefully)

5. David Clarke and all Cobra share holders are very very happy!

Let’s see how it plays out!

Oh! New presentation! Thanks Ship.

I’d love to go but London is a bit too far for me to travel unfortunately.

I know the board are planning to run a pilot plant end of 2026 with data going towards a pre feasibility study.

If anyone could try and gather a bit more clarity on feasibility timelines that would be fab.

For example how realistic would the following be?

Scoping study - Q2 2026

Pre feasibility - Q2 2027

Bankable feasibility - H1 2028

Many thanks.

This is Groks opinion after being asked to scrape all data related to Boland and new tenements….

Realistic Maiden Resource Estimate

Based on the compiled drill data, re-analysis, geological modeling, and project scale, Cobra is likely positioning for an Inferred JORC-compliant MRE (initial focus on core Boland plus partial new tenements). Key assumptions for estimation:

Mineralization is laterally extensive but confined to palaeochannels (width 0.5-2 km, lengths 10-20 km per zone).

Average thickness: 2-4m (from sonic intersections).

Average grade: 900-1,200 ppm TREO (spot highs to 2,937 ppm, but averages lower; enriched in MREO at 20-30%, with Dy+Tb 20-60 ppm).

Density: ~1.5 t/m³ for clay/sand-hosted material.

Mineralized area for maiden: ~20-30 km² (core Boland wellfield + northern extensions + partial Gillespie/Head zones; not full 287 km² prospective to keep it conservative for inferred category).

Cut-off: Likely 500-700 ppm TREO, focusing on ISR-amenable zones.

A realistic maiden MRE they might release could be 120-180 million tonnes at 950-1,100 ppm TREO, containing 120,000-180,000 tonnes of TREO. This would emphasize high MREO content (25-30%, including 10-20% heavy REEs like Dy/Tb) and ISR potential for low-cost production. The estimate would be inferred, with upside from further drilling across the expanded 3,365 km² landholding potentially doubling or tripling scale in future updates. This aligns with similar ionic clay projects (e.g., Makuutu at 315 Mt @ 640 ppm TREO), adjusted for Boland's higher grades and confined geology.

High recoveries (80-90%) and low acid use would support strong economics in scoping studies.

I’d love to know what Rupert’s expectations are with the MRE. Surely he’s got a rough target in mind for this. Obviously it’s a maiden resource so will scale with more drilling but he must have an initial target range in mind that he would be happy or disappointed with depending on the results?

I’ve really got no idea what to expect. With data we have to date I’m not smart enough to even hazard a guess and do a rough MRE calculation with known grades and scale so far. If there’s anyone who’s done this calculation and would care to share their results I’d love to see them.

However what I’m hoping is MRE no less than 50Mt. I think if it’s less than this the market will be disappointed. Anything over 100Mt would be phenomenal but just don’t see it for a maiden resource.

Anyone else care to share their expectations so we can get a rough gauge where share holders are at and what they are hoping for from the MRE?

It’s really not that far away!

Crunch time!

Smart Punter. Start here https://cobraplc.com/ and take it from there!