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Cobra Resources PLC - Wudinna gold project in South Australia - Pretax loss widens to £1.7 million in 2021 from £1.0 million the year before. Puts this down to finance costs that jumped to £1.1 million from £39,755. Recognises no revenue in the year, as it still in its pre-revenue stage and raises funds for its activities through the issue of equity and debt.
Notes rare earth mineralisation discovery at Wudinna project in Australia. Plans to expand on this discovery and grow a ‘unique and complementary resource base.’
‘Despite ongoing challenges associated with the COVID-19 pandemic, the company has delivered a significant field programme that has achieved outstanding exploration success,’ Chair Greg Hancock says.
Current stock price: 2.12 pence
12-month change: up 1.1%
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