Member Info for RichyRich1

I’m willing to hold for another year and see how things progress throughout 2025 but if the next raise is one point anything pence I’m out!

Confident of the project and what the board is trying to achieve but the sooner they get out in the field and confirm that the lab test results can be emulated and are commercially viable the better.

Interesting money has been set aside for ASX listing that coincides with MRE!?

Think the board are starting to get hacked off that the London market doesn’t quite grasp the significance of the work Cobra are doing?

Not the news I was expecting! Obviously they need funds to progress the project but I’m surprised they didn’t wait until the MREC results were released and if positive raise on the back of being the first Australian company to produce such a product (even if only from a bench scale study).

One major positive for me is if (and a massive if!) they can stick to the updated plan we should have a scoping study by November 2025 whereas previous indications were H1 2026 for scoping.

Time will tell if they can stick to that plan but what bothers me is Cobra can’t break the cycle of raising funds around the 1p mark despite the positive news throughout the year after raising funds.

Oh well this time next year……(again!!!).

Hahahahaa!

Very few people get rich holding Red Rock, other than Andrew Bell and his insider cronies!

I think he was saying 3-4 years from now not 3-4 years after pilot study has been completed but could be wrong.

Good find RedRoy and thanks for highlighting.

Just has a listen but need to double check exactly what Rupert speculated after being heavily prompted and encouraged to do so from hosts!

5-10,000 tonne MREC per annum potentially.

MREC @ $60 per kg

Under $10 per kg to produce using ISR

Off take payable $30 minus $10 production

$20 per kg profit?

5,000 tonne = 5,000,000kg @ $20/kg = $100,000,000 per year

10,000 tonne = 10,000,000kg @ $20/kg = $200,000,000 per year.

Another 3-4 years before fully operational compared to average 18 years from discovery to production for most mines.

If they can achieve the above and minimise dilution……wowsers!

Just imagine when rare earth prices recover!?

Ok thanks, will be very interesting to see what figures are included in the scoping study. Unfortunately I don’t think the market is going to pay much attention to anything other than that.

LordChaos, do you mean a mine worth £400 million over 10 years rather than £400 million a year?

Helpful, do you know what “exporting has begun” or “5 Chinese buyers” means?

Just words unfortunately!

Thank you Rupert for the prompt reply to my question! Excellent comms!

Hi Richard,

Thanks for your question.

Ideally, we will be completing an intial scoping study next year to demonstrate economics. Providing the study is positive and inline with our expectations, and considering we have installed the pilot wellfield very early in our discovery, we expect that a positive scoping study and early pilot study will speed up project studies to reach bankable feasibility.

Regards,

Rupert Verco

I’ve asked how long they think it will take to get to bankable feasibility study all going to plan. Hopefully they will answer the question!

Whilst we wait anyone like to hazard a guess to valuation after successful scoping study?

I don’t understand why they’ve not released the drilling plan yet!?

Idiot.

DYOR

Been digging around to try get a rough idea how long it takes to complete PEA, PFS and FS on a mining project and came across this site….

https://www.smallcapinvestor.ca/post/a-guide-to-pea-s-and-feasibility-studies

Apologies to those for the simplicity of info but I was trying to piece together how long it will take Cobra to work its way to final feasibility study.

All going to plan I reckon mid to late 2026.

Do you think that sounds about right?

Just want to second positive comments about the excellent communication with share holders through the investor hub.

I asked the following question….

“I asked on the Geoinvestinsights You Tube channel what his thoughts were on Cobra given the latest news and this was his reply….

“I am a big fan of their work, my only concern with them is the relatively low grade with the current prices of rare earths”

Does he have a valid point or does the relatively cheap ISR recovery technique minimise grade importance?

Keep up the good work!”

END MY Q.

And this was the company reply…

“Hi Richard,

ISR traditionally enables lower grades to be mined. However, what we are demonstrating is that are grades are actually very high, confined to permeable layers of geology. Our average Boland wellfield Zone 3 grade is 2,099ppm TREO where Dy & Tb grades by far exceed other ionic REE projects. Our focus now is to demonstrate this at scale!”

END COBRA REPLY

Looking forward to more news on the drilling programme!

Certain individuals should be investigated by the relevant authorities for their complicity in this charade that Red Rock was in a good place!

But DYOR so you will be covered!!

Would love to hear News take on this!!

Getting way ahead of myself but would the board sell out to the Chinese if the offer was too good to turn down!?

If Cobra manage to pull this off there’s going to be a lot of interested parties sniffing around!

https://amp.scmp.com/news/world/united-states-canada/article/3278904/chinas-grip-rare-earths-undercuts-us-japan-and-australia-projects

I asked on the Geoinvestinsights what his thoughts were on Cobra given their latest news and this was his reply….

“I am a big fan of their work, my only concern with them is the relatively low grade with the current prices of rare earths”

Hopefully the next round of drilling can target higher grade and the relatively inexpensive ISR process still makes them profitable even at low rare earth prices.

Looking forward to next news but starting to get a little frustrated they haven’t announced drilling plan that will be going towards maiden resources estimate for Boland.

Well spotted. Presenter was impressed!

Would really like to see him do an updated analysis as it was 5 months ago when he reviewed Cobra.