For reasons why believe Cobra Resources Share Price will rise next week read here.
This article provides information on the announcement made by Alliance Resources on the 8th May. The Alliance Weednanna prospect is just East of Cobra’s Wudinna prospect.
Since just before (5th May) the Alliances Weednanna announcement the shares have risen in price by 61%.
Drilling identified significant intersections of high-grade gold at shallow depth (see detailed information here).
Whilst Alliance have limited data the information indicates that a shallow pit gold mine would be economical. Obviously as the price of Gold increases, as inflation bites and the impact of a recession hits the gold mine economics will become more compelling.
Cobra’s awaited data information analysis is more extensive than Alliance Resources data.
It would be a reasonable assumption to make, Cobra information when released to the market will be a validation of Alliances earlier results.
Alliance are RC drilling now, so further information can be expected with regard to progress in the near future.
The impact could be significant on both the Cobra and Alliance Resource share prices.
The Alliance information released on the 8th May indicates the area has the potential to be a good hot spot.
All the indicators are Cobra Resources Share Price has a strong possibility of rising next week read here.