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In 2023, Cobra discovered a rare earth deposit with the potential to re-define the cost of rare earth production. The highly scalable Boland Project in South Australia’s Gawler Craton is Australia’s only ionic rare earth project with the potential for in situ recovery (ISR) mining – a low-cost, low-disturbance method.

Cobra is focused on de-risking the investment value of the discovery by proving ISR as the preferred mining method which would eliminate challenges associated with processing clays and provide Cobra with the opportunity to define a low-cost pathway to production.

Cobra’s Wudinna Project tenements contain extensive orogenic gold mineralisation, including a 279,000 Oz JORC Gold Mineral Resource Estimate, characterised by potentially open-pitable, high-grade gold intersections.

Cobra’s extensive Western Eyre Peninsula landholding contains a number of defined sandstone hosted uranium occurrences amenable to ISR mining. The company aims to develop and grow these uranium assets as they work to define the scale of ionic REEs across the landholding.

Diversified Portfolio

Rare Earths, Gold, Uranium

Prime Location

Tier 1 mining jurisdiction
South Australia is world leader in ISR

Strategic Exploration

Lowering per Oz discovery cost

Demonstrated Success

Significant intercepts outside current gold resource

Strategic Development

Expanding rare earth resource footprint
Pathway to gold production
Tenements prospective for uranium

Cobra holds an extensive land tenure totalling 4,773 km2 across the Gawler Craton, the oldest and largest geological province in South Australia.  

In addition to the Boland Project, Cobra’s Wudinna Project tenements contain extensive orogenic gold mineralisation, including a 279,000 Oz JORC Gold Mineral Resource Estimate, characterised by potentially open-pitable, high-grade gold intersections.

Cobra’s tenements in the region are also highly prospective for uranium mineralisation. South Australia is a world-leading uranium mining jurisdiction, containing around 25% of the globe’s uranium resources and host to Australia’s only operational uranium mines, including BHP’s Olympic Dam, Boss Energy’s Honeymoon mine and Heathgate’s Four Mile and Beverley operations. Cobra’s Boland Project occurs in the Narlaby Palaeochannel, the system which hosts known uranium mineralisation at IsoEnergy’s adjacent Yarranna Project.

Cobra has diversified exposure to a range of valuable commodities through its landholding. We believe that the Boland Project has the potential to redefine the cost of rare earth production and become one of the lowest cost sources of REEs globally. We are focused on demonstrating this difference by advancing the in situ recovery potential. As we work to define the scale of the ionic mineral system, we will look to advance and explore for desirable sandstone hosted uranium, also amenable to ISR mining.


Pathway to Production

Working to realise value from defined gold resources


Cost Effective Sourcing

Low-impact, low-cost sources of REEs – ionic REEs amenable to ISR and REE resources in gold overburden


Numerous Sandstone Hosted Occurences

Advancing alongside REE strategy

In situ recovery (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 it has identified at its Boland 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, which include:

Low CAPEX and operational costs

Minimal water consumption

Temporary ground disturbance

No associated legacy landforms

The critical nature of magnet rare earths to global decarbonisation, coupled with the long-term fiscal stability of gold, enables Cobra to define a globally unique mineral inventory in a world-class mining jurisdiction.

Add our potential for uranium discoveries, and we provide unique access to a range of strategic commodities in the stable and ethical mining jurisdiction of South Australia.


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. There is increasing demand for gold from the electronics industry, with 330 tonnes of gold used in technology in 2021 alone.

Rare Earth Magnets

Growing demand for rare earth minerals is driven by the energy transition and underpinned by demand for permanent magnets. The Western world is pushing to reduce reliance on China (90% of global supply) for the elements which are critical to electric cars, wind turbines and cell phones. In 2022, magnet rare earths contributed to energy efficient products valued at c.$3.2 trillion.


Uranium is essential for the production of nuclear energy, and as governments increase investment in nuclear energy to meet net zero targets, demand is set to increase by 28% by 2030. In turn, uranium prices have increased to reflect this growing demand.  Australia is home to the highest percentage of available uranium in the world, making future discoveries here highly probable.

Greg Hancock


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.

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.

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.

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.

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.