Member Info for RogB

9th Sept RNS about warrants said:

The Company's issued share capital currently consists of 877,863,899 ordinary shares of 1 pence each ("Ordinary Shares"), each with voting rights. The Company does not hold any shares in treasury. The total number of voting rights in the Company following the Warrant Exercise will be 880,615,349. The above figure of 880,615,349 may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's ("FCA") Disclosure Guidance and Transparency Rules.

An application has been made to the London Stock Exchange for a block admission of 47,698,117 Ordinary Shares to be admitted to listing on the equity shares (transition) category of the Official List of the FCA and to trading on the main market for listed securities of London Stock Exchange plc (the "Block Listing").

Todays RNS :

Cobra (LSE: COBR), a mineral exploration and development company advancing a potentially world-class ionic Rare Earth Elements ("REEs") discovery and a large-scale copper-gold project, announces, in conformity with the Financial Conduct Authority's Disclosure Guidance and Transparency Rule 5.6.1R, that, as at 30 September 2025, its issued share capital comprises 901,654,095 ordinary shares of nominal value 1 pence each ("Ordinary Shares"). Each Ordinary Share carries the right to one vote in relation to all circumstances at general meetings of the Company. The Company does not hold any shares in treasury and therefore the total number of voting rights attributable to the Ordinary Shares is 901,654,095.

adding the 47mil warrant shares to 877M or 880M doesnt come to 901M - is this an indication of the number of warrants served and how many outsatnding? I am also new to this, but keen to understand

The 4p capping may be due to news elsewhere. I spotted Rainbow Rare Earths had an interview on Crux Investor which is tagged "US Govt-Backed Miner Targets 2027 Production From Waste Processing" which is claimed to be low cost as they seem to reprocess waste - I don't know enough about that process but I guess there is some competition to be the premier rare earth supplier secured in the west

Seems like SB is getting in the right rooms with government representatives! I expect that given the nature of the global mineral supply threat, Empires reserves will be high on many peoples agenda as a safe a reliable source.

The Competent Person statement on the RNS's is part of the AIM rules on disclosure of exploration and drilling updates which state:

Drilling update

For the avoidance of doubt, exploration drilling updates are required under AIM Rule 11

and, as a minimum, should include information on:

Minerals & Ore Updates

• depth of zone tested

• drilling intervals

• average grades of mineralisation

Oil & Gas Updates

• depth of zone tested

• rock formation encountered

• any liquids/gases recovered.

Review by qualified person

A qualified person from the AIM company or an appointed adviser, which may include

the CP, should review and sign off on each resource or drilling update and include

their name, position and qualifications within the notification together with a statement

to the effect that they have reviewed the information contained therein.

It is therefore expected that the competent person can also be an employee....

The MRE is different and will fall under the JORC Code, providing independent, unbiased technical reports.

The drilling assays were "Intertek's Perth based analytical laboratory. As of the end of June all drill hole and QA/QC samples have been delivered to Intertek for geochemical analysis and assaying". - if you bother to look them up you will see the Perth outpost is their Mineral Global Centre of Excellence and "Working alongside customers, our industry-leading experts provide access to world-class ATIC expertise: Assurance, Testing, Inspection, Certification." Intertek is in FTSE 100, I am sure they wouldn't want their assay results and analysis tarnished by being misprepresented.....the 5000 odd drill samples from the Thomas prospect would appear to have been analysed by the best.

As an armchair investor I think we all have to give these results some credence in the absence of any facts to the contrary.

Not obsessed, my posts have been largely to correct the misunderstandings about being included in the AIM UK 50. I was expecting AIM 100 inclusion and it does crop up a lot recently in discussions so just seeking a bit more clarity there, but it doesn't matter much either way.

Specs-

Could you take a peek behind the ftse registration wall and see why we are still not aim100 listed, at least as far as I can see?

19th Sept you posted this so hope you can update us...

It has been confirmed that Empire Metals (SEDOL: BKTZQR4) will be included in the FTSE AIM 100, effective 22 September 2025.

You may need to register to access the official link:

http://www.ftse.com/products/index-notices/home/GetAttachment?id=c16d2f20-d4b1-4905-8e4f-63b4a524a731&title=FTSE_AIM_Quarterly_Review_September2025.xlsx

Ps tried registration but doesn't work for me.

I had a look at the academic literature on some of the ISR chemsitry that Cobra are hoping/working on getting the metals out and doing the seperating of light and heavy REE. It looks highly possible as an approach in this case as according to the recent webinar the ground water is strongly saline. The salinity affects the effective strengths of the acids being pumped in to extract the REE so a reduced acid use is likely in comparison to an operation with fresher ground water. Secondly the make up of the ions in the saline water can also alter the selectivity to extraction, but this is complex so will require a bit of optimisation depending on the exact groundwater makeup. I can see the Cobra approach having strong merits based on the recent literature and this supportis the webinar discussion.

Thanks for the clarification on the personnel structure around the company - not easy to pick up as a newbie. However, its structured seems to be working well and I am looking forward to a succesion of announcemnets from the various leads and structures being investigated.

I thought it was a good webinar and laid out the rationale and geology well. I was surprised that he is a one man band currently (in the company). I would think he is going to be very stretched shortly as these things take off. I hope he has some plans to build more of a company team in future - needs some redundancy and delegation in case of unforseen events and so the company has personnel on each site as necessary and not just contractors.

Hi ML,

I agree with all that about AIM100, just not your earlier mention of AIM50.

ATB

RogB

Empire doesn't appear on Companies House - I then picked at random a company from the AIM50 list -

SIGMAROC PLC to look up on Companies House to check thats where AIM50 companies show up. Bizzarely it has the same address "6 Heddon Street, London, England, W1B 4BT" and is also a mining company! Perhaps its just a UK mail address.......

The AIM50 part of this discussion will be short as AIM50 is actually "FTSE AIM UK 50 Index" and for UK companies. Empire's investor page on AIM Rule 26 states "Empire Metals is incorporated and registered in the British Virgin Islands with the company number 1570939. Its main country of operation is Australia. As the Company is not incorporated in the UK, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company. Empire Metals’ Ordinary Shares are also traded on the OTCQB Market in the United States of America under the ticker symbol “EMPLF”." so its not a UK domiciled company - unless there are plans to change that.

I don't belive it will appear in the Aim50 as the index full name is FTSE Aim UK 50 and "Empire Metals is incorporated and registered in the British Virgin Islands" not UK, [LINK REMOVED] There are also a few notes on these investor pages such as "As the Company is not incorporated in the UK, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company" and "The Company is not subject to the UK City Code on Takeovers and Mergers." . Any thoughts on whether these discalimers are significant risks vs UK domiciled companies? PS be nice, my first post and I'm new to this and only have a few 1000shares in EEE after following this website on RR. and EE boards for a bit.