RE: Thinks7 Feb 2023 21:59
Cobra has achieved the necessary agreed funding for the 75% Jv but that doesn’t necessarily mean both parties will execute the agreement, this has to be mutually agreed and I suspect the next round of drilling should firm up what’s in the ground and they can work out the economics - Andromeda have their attention on their Kaolin projects at the moment so the onus is on Cobra to fully demonstrate what it’s worth.
We started this journey for gold, which prices are very high and with REE’s discovered also I’m assuming Cobra & Andromeda want to firm it up fully before pushing for the Jv.