Cobra Resources advances scalable copper-gold potential at Manna Hill following encouraging IP results

Cobra Resources (LSE:COBR) announced encouraging results from an Induced Polarisation survey at the Blue Rose prospect within its Manna Hill Project in South Australia, strengthening the geological case for a large-scale copper-gold skarn and porphyry system. The project sits within a prolific copper province that hosts a significant share of Australia’s established copper reserves.

The survey outlined two sizeable new chargeability anomalies, including the Black Baccara porphyry target and the Neptune Rose skarn target, which extends for approximately 1.2 kilometres. These results have allowed the company to refine its drill planning, with site preparation now completed and a drilling campaign of up to 50 holes planned. At least 15 holes are scheduled for mid-January, targeting strike and depth extensions of known mineralisation, testing the presence of a second skarn system, and evaluating deeper porphyry-related structures. Initial assay results are expected by early March.

From a financial perspective, the company’s outlook remains constrained by the absence of revenue, continued operating losses and ongoing cash outflows, although this is partially offset by a debt-free balance sheet. Market technicals remain a relative strength, with the share price trading above key moving averages and showing positive momentum. Valuation remains difficult to assess given negative earnings and the lack of dividend yield data.

More about Cobra Resources Plc

Cobra Resources plc is a South Australia–focused critical minerals developer working to advance a portfolio of pre-production assets. Its flagship projects include the Boland ionic rare earth discovery at the Wudinna Project in the Gawler Craton, regarded as Australia’s only rare earth project suitable for low-cost, low-impact in-situ recovery mining. Alongside rare earths, the company is building exposure to copper and gold through exploration assets such as Manna Hill, located in a major copper district with access to established transport and processing infrastructure.