Member Info for RichyRich1

£480m market cap?

48p per share with 1B shares in issue.

What does everyone else think?

Unrealistic or achievable?

For those that think I’m getting carried away really need to listen to the Sunday Roast interview with David and Rupert!

Interesting! Thanks for that Joe. Yes I think there will be more shares issued but I’m really hoping it’s through the outstanding warrants being bought rather than a raise.

I think at last count we figured out there was around £4m of warrants outstanding convertible from 2p upwards for roughly 120m shares.

With any luck if we can get to bankable feasibility study with only 1B shares in issue and a proven expanding resource and a little help from the South Australian government (is everyone noticing they are getting mentioned more and more as Cobra proves up Boland!?) Cobra might be legible for grant funding minimising future dilution. Rupert has hinted at it in the past but they’re not quite there yet (but getting there rapidly!)

A couple of off take agreements, grants and a smallish loan to get producing with 1B shares in issue is what I’m hoping by 2027/28 but hey who knows!?

I reckon there’s around 320m in free float (40%) and like you I’m not selling until 20p plus.

If this continues to go to plan (and so far it is) £200m market cap with 1B shares in issue might sound like a ramp but I genuinely think it’s achievable will just take time and discipline not to sell on the way up!

I’d love to know how many free float shares are available?

Hopefully the sonic drilling results will be positive to really push on past the 1.5p mark never to be seen again!

Just shy of 200,000 shares!

GLA!

I thought it was a pretty comprehensive update where we’re at and what we’ve got to look forward to.

Main positive for me is they are still planning to have scoping study completed by year end. So by the end of this year we should have a MRE at Boland, in field confirmation ISR works, scoping study and enough MREC for off take agreement discussions.

Lots to look forward to!

Taken from the podcast….

“But yeah, it sounds like very positive, and I think your children and grandchildren could thank you very much for your investment in the future, if all this comes to fruition. Because I think you are talking about a company that could be worth literally hundreds of millions, if not billions of dollars, or Australian dollars, for sure.

I do agree.

I think that's the most logic.”

Fingers crossed they are all right!

Bubbly away nicely. Hopefully sticky hand investors looking to hold 2-3 years and not sell on news brigade looking for 10% gains!

Sudden jump in trading volume.

Precursor to news being released?

If news released on Wednesday 4th June 2025, trading on this day (3rd June) should be investigated.

Sorry forgot to add to last message, in the same Sunday Roast interview Rupert mentioned targeting 5-10,000 tonnes MREC a year.

@ 5,000 tonne/year = 21 year mine life

@10,000 tonne/year = 10.5 year mine life

Figures from the scoping study should make for great reading!

Page 18 - “At current recoveries each tonne of ore treated from Zone 3 in the established wellfield would produce 2.1kg of MREC”

So IF (big IF) they managed to prove up a 50Mt resource in Zone 3 that’s the equivalent of 105,000,000kg (105,000 tonne) MREC produced?

@ $20 profit per kg of MREC (taken from Sunday Roast interview last year so might not be accurate!)

$2,100,000,000 profit!?

It’s almost too good to be true!!

https://res.cloudinary.com/investorhub/raw/upload/v1740479854/leaf-prod/234/documents/Feb-25_Cobra_Resources_Presentation_FULL_xghtcz.pdf

I think it all hinges on the ISR working in the field BB. Loads of companies claiming they have rare earths (which they probably do) but concentrated in such a way to be economically viable that’s another story.

If Cobra can prove ISR works, if they can prove up a significant MRE (20M Tonne initially!? obviously more the better but got to be realistic on MRE, I’ve got no idea what they hope to achieve for maiden resource estimate) and the scoping study shows a profitable and feasible project at this stage then surely we’ll re-rate?

Question is re-rate to what value? £20m, £40m, £100m.

If anyone can give a compelling realistic valuation taking the above into account I’d love to hear thoughts.

Any idea Lord Chaos how many tonnes of MREC they’ll be able to get from a 50M tonne reserve?

Rupert has hinted at MREC production figures annually in the past so I’m just trying to put 2+2 together to get an idea on where we’re heading.

A$500,000 cash if a JORC compliant Mineral Resource Estimate of at least 100Mt at more than 1,000 ppm Total Rare Earth Oxide ("TREO") is defined across the New Tenements

· A$500,000 if a JORC compliant Mineral Reserve of at least 50Mt at more than 1,000 ppm TREO is defined across the New Tenements

So $1,200,000 plus drilling costs and 1.5% NSR to get 50Mt 1,000 ppm TREO reserve?

Does anyone have any idea at all how much a 50Mt 1,000 ppm TREO reserve is worth?

Yup, I’m eagerly awaiting the resource estimate, confirmation that ISR works in the field and the scoping study then watching Cobra fly (as long as all positive obviously!).

I think the advantages of ISR technique is the ability to process low grade and still be profitable. It’s interesting that other companies are trying to use the same tech around the world to compete with the Chinese dominance.

Lots of useful info in this article even though it’s about a different company operating in Brazil. They are a little further ahead than Cobra having a resource estimate and scoping study completed but gives us an idea of competition albeit operating out of a different country.

https://discoveryalert.com.au/news/in-situ-recovery-ema-2025-brazil-rare-earths/

Thanks TOn1h. I’m still well long on Cobra and have no agenda other than to start selling when the SP begins with a 1 and by that I don’t mean 1p!

Absolutely agree Draft but when there hasn’t been any news released giving definitive timescales and the most recent reference I can find to timescales is from this month it would suggest the scoping study will not be this year but now next year.

Cobra have a habit of the plan taking quite a bit longer than planned!

An updated presentation with rough timescales would be appreciated!

Taken from the following where Cobra attended I guess earlier this month. Might explain the sudden interest over past few days?

https://www.weare121.com/121mininginvestment-london-spring/cobra-resources/

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

High news flow

Sonic core drilling at Boland

6 Months:

Boland resource drilling

Regional target drilling

12 Months:

Boland rare earth mineral resource estimate

Infield ISR testing

Scoping study

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Capital Markets – Strategic marketing and growing investor relations.

Financing – Pursuing alternate not dilutive and debt free financing options.

END

Only issue I have with this is timescales appear to have slipped AGAIN! I was really expecting scoping study by year end 2025 but if it’s not going to be due until this time next year!!??