Home Search Watchlist Advertise Feedback Profile



Why has Andromeda Metals sold their interest in the Wudinna Gold Project to Cobra Resources? — ASX:ADN| ASX Mining News & Discussion
L
Lykeshares Official
$ADN Why has Andromeda Metals sold their interest in the Wudinna Gold Project to Cobra Resources?
Andromeda Metals Limited (ASX: ADN) has announced the sale of their 25% interest in the Wudinna Gold Project to Cobra Resources plc. This sale involves the transfer of tenements related to the project in exchange for $500,000 in cash and $1,000,000 worth of shares in Cobra.

Background: The Farm-in and Joint Venture Agreement

Back in October 2017, Andromeda, through its subsidiary Peninsula Resources Limited (PRL), entered into a farm-in and joint venture agreement (Farm-in) with Lady Alice Mines Pty Ltd (LAM) to advance the Wudinna Gold Project. In March 2019, Cobra acquired LAM, which is listed on the London Stock Exchange.

Under the Farm-in agreement, LAM earned a 75% interest in five tenements covering 1,832 km2 on South Australia's Eyre Peninsula. They invested $5 million in exploration efforts to uncover potential gold and rare earth elements (REE) deposits.

The Sale Agreement

Andromeda has now decided to sell its remaining 25% interest in the Wudinna Gold ...
Why has Andromeda Metals sold their interest in the Wudinna Gold Project to Cobra Resources?

L
Lykeshares Official
Berkshire is hoarding so. much. cash.
Berkshire is hoarding so. much. cash.
L
Lykeshares Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.

There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can ...
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore. There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can rush, it’s a complex, slow-moving process that takes years of precision and experience. Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
L
Lykeshares Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
L
Lykeshares Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
L
Lykeshares Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
L
Lykeshares Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
🔺 Student Loan Delinquencies Hit Record 12.9%... The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
L
Lykeshares Official
$ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?