About Cobra

With a strong focus on critical minerals essential for the global energy transition, Cobra is advancing high-potential projects in South Australia, including a world-class rare earth discovery at its flagship Boland Project and a significant copper-gold opportunity at the newly optioned Manna Hill Project.

At the heart of Cobra’s strategy is the pursuit of scalable, high-impact mineral deposits that align with global demand for clean energy metals. The Boland Project is a pioneering ionic clay-hosted rare earth element prospect, targeting dysprosium and terbium, which are vital for electric vehicles, renewable energy, and defence technologies.

Simultaneously, Cobra is advancing exploration in the Nackara Arc region through the Manna Hill Project, which offers promising copper and gold targets within an underexplored porphyry province known for its potential to host large, shallow mineral resources.

Cobra’s management team brings decades of combined experience in exploration, project development, and capital management.

In 2025, Cobra successfully sold non-core gold assets for up to A$15 million, while retaining upside through a strategic equity interest in the purchaser.

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Diversified Portfolio

Rare earths, Copper, Gold

Prime Location

Tier 1 mining jurisdiction
South Australia is world leader in ISR

Strategic Exploration

Lowering per Oz discovery cost

Gawler Craton – where we explore

Cobra holds an extensive land tenure across the Gawler Craton, the oldest and largest geological province in South Australia.

We are actively advancing projects in this geologically significant region, including the Boland Project, where we have made a potentially world-class ionic rare earth element discovery. The Gawler Craton’s fertile geology and proximity to established mining infrastructure provide Cobra with an exceptional opportunity to unlock value through innovative exploration and targeted resource development, positioning the company at the forefront of critical mineral supply chains in Australia.

Strategy

Cobra is maximising the value of its technical team by advancing exploration strategies at Boland and Manna Hill.

RARE EARTHS

Advancing the Boland Project as a potentially world-class ionic clay-hosted REE discovery, focused on producing high-value magnet metals like dysprosium and terbium, critical for the clean energy and defence sectors.

COPPER

Targeting scalable, underexplored copper systems in South Australia’s Nackara Arc, leveraging existing technical capability to unlock porphyry and skarn-hosted copper resources aligned with global energy transition demand.

GOLD

Building on value from past gold divestments by targeting high-potential gold zones like the Golden Sophia at Manna Hill, with shallow drill targets and strong historic results that complement our broader critical minerals focus.

Cobra also has exposure to Barton Gold, a near term South Australian developer advancing a multi-million-ounce portfolio of projects.

In Situ Recovery Mining

Cobra stands to be the first rare earth in situ recovery (ISR) project outside of Asia.

ISR mining is an innovative, low-cost process of mineral extraction that has been successfully deployed across the globe to recover strategic metals including copper and uranium. Cobra, however, is pursuing an opportunity to use ISR to extract the rare earths at its Boland Project where unique geology presents as the world first confined aquifer ISR rare earth project.

ISR is the key to overcoming potential capital challenges associated with rare earth projects, increasing future operational profitability and generating an unrivalled environmentally credentialled source of critical rare earths.

Cobra’s team is experienced in exploring for minerals amenable to ISR mining and in the execution of ISR mining projects. The company is focused on advancing its work programme at Boland to highlight the economic and environmental benefits of ISR mining.

Low CAPEX and operational costs

Minimal water consumption

Temporary ground disturbance

No associated legacy landforms

Markets

Rare earth elements are critical to the global energy transition. While copper is essential for electrification and infrastructure, gold provides long-term financial stability, complementing Cobra’s diverse portfolio.

Operating in South Australia, a stable and well-regulated mining jurisdiction, Cobra has access to high-quality deposits across these key minerals.

RARE EARTHS

Growing demand for rare earth minerals is driven by the energy transition and underpinned by demand for permanent magnets. The G7 nations have committed to diversifying their supply chains and reducing dependency on Chinese rare earths, making supply from reliable jurisdictions key for the elements which are critical to electric cars, wind turbines and cell phones.

COPPER

Copper plays a crucial role in modern infrastructure, renewable energy systems, and electric vehicles, where its efficiency supports the global transition to cleaner technologies. Recently, copper prices have climbed as demand surges from green energy initiatives, supply constraints, and the accelerating electrification of industries worldwide.

GOLD

Gold is renowned for its value as a safe haven while it is also becoming a key component in electronics and space exploration. It does not corrode, is a great conductor of electricity, and is highly resistant to heat. Gold prices have surged to record highs, driven by factors such as geopolitical tensions, economic uncertainty, and a weakening U.S. dollar.

Team

Board of Directors

Greg Hancock

Chairman

Greg has over 25 years' experience in capital markets and corporate finance. He has extensive experience in Australia and the UK through close links to the stockbroking and investment banking community. He has specialised in mining and natural resources and has a background in finance and management of small companies.

Rupert Verco

Chief Executive Officer & Director

Rupert is a mining specialist with over 17 years’ experience in Australia and internationally. His key areas of focus include resource definition, reserve optimisation, mine planning, and mine operation. He has managed operations through all phases of the mining cycle on projects that cover a range of commodities including gold, copper, uranium, tin, and iron ore. Rupert is a fellow of the Australasian Institute of Mining and Metallurgy and holds a First Class Honours in Geology.

David Clarke

Director, Business Development and Asset Marketing

David is a geologist with more than 55 years’ professional experience and 25 years' as a director of public companies. He was a geologist with the Commonwealth Department of the Interior and a Chief Geologist at Santos. David played a role in the discovery, development and production of the million ounce Tuckabianna gold mine in Western Australia, the Newrybar mineral sand mine in New South Wales, the Mud Tank vermiculite mine in the Northern Territory, and the Mindarie mineral sand mine in South Australia.

Dan Maling

Non-Executive Director

Dan is a Chartered Accountant and member of both the Australia & New Zealand and England & Wales professional bodies. He has over 25 years of senior corporate and commercial management experience primarily in the natural resource and technology sectors. He has worked with several AIM, ASX and TSX listed companies providing corporate finance, business development and strategic advice. Daniel is a director of UK listed Metals One plc and Hydrogen Future Industries plc.

Key Executives & Management

Robert Blythman

Exploration Manager

Robert has over 16 years’ experience as an exploration geologist, focused on South Australia, Victoria and the Northern Territory. He has both mining and exploration experience in orogenic style gold projects and his experience covers a range of commodities including gold, copper, uranium and rare earths. Robert is responsible for delivering Cobra’s field programmes safely and successfully while ensuring the best possible outcome for all stakeholders.