Cobra Resources PLC, a South Australian mineral exploration and development company, reported its final results for the year ended 31 December 2025. Key highlights include
**Boland Rare Earth Project**Confirmed increased continuity of rare earth mineralisation and suitability for in-situ recovery (ISR) development. Successfully produced high-grade Mixed Rare Earth Carbonate (MREC) with a heavy rare earth content of 42.94% and magnet rare earths of 38.9%, positioning Boland for sustainable production.
**Manna Hill Copper Project**Secured an option to acquire this project, with initial drilling results showing promising copper intersections. The Board plans to exercise the option, pending shareholder approval.
**Corporate Developments**Sold Wudinna Gold Assets for up to A$15 million, raised £4.68 million through a share issue, and appointed Andrew Michelmore AO as Non-Executive Chairman.
**Financial Performance**Reported a profit of £179,889 for the year, with significant progress in exploration and development activities.
**Strategic Focus**Shifted focus to critical minerals (dysprosium, terbium, and copper) with gold and molybdenum credits, aligning with energy transition demands.
**Post-Year Developments**Continued resource drilling at Boland and Manna Hill, established an Employee Benefit Trust, and completed a £4.5 million fundraise to accelerate projects.
Overall, Cobra Resources made substantial advancements in its rare earth and copper projects, strengthened its financial position, and positioned itself for future growth in critical minerals.
| Financial Metric | 2024 (£) | 2025 (£) | Change (£) |
|---|---|---|---|
| Profit/(Loss) before tax | (423,336) | 179,889 | 603,225 |
| Net finance income | 7,169 | 13,514 | 6,345 |
| Total comprehensive profit/(loss) | (728,497) | 468,607 | 1,197,104 |
| Cash and cash equivalents | 795,708 | 1,562,502 | 766,794 |
| Total non-current assets | 4,357,789 | 5,904,091 | 1,546,302 |
| Total current assets | 940,454 | 2,445,079 | 1,504,625 |
| Total current liabilities | 290,799 | 337,012 | 46,213 |
| Contingent consideration | 119,698 | 119,698 | 0 |