As this year has unfolded, Cobra has quietly gone about its business and build up the infrastructure and is now be able to progress towards the maiden exploration drilling campaign.

Today the company announced Hagtstrom Drilling Equity Agreement expanded from 4,650m to 10,000m of RC Drilling. Hagstrom has also agreed to take 33.34% of this fixed cost as equity.

The Company will detail its planned exploration programmes later this week, however, a start date of the second week of September has been agreed between the Company and Hagstrom for the initial drilling programme, subject to finalising the drilling contract and mobilisation.