Cobra Resources is an exploration company focused on developing a rare earths deposit in South Australia, with a potentially low-cost method of production through in situ recovery (ISR). The company has recently raised £1.7m in equity funding and released metallurgical results with implications for extraction costs, indicating the potential for a bottom quartile position on the industry cash cost curve. This is important as ISR is also likely to be scalable and have a low capital cost, which will make Cobra’s Boland project an interesting rare earths play as it progresses towards establishing a maiden resource and completing a scoping study.

Cobra Resources is an exploration company focused on developing a rare earths deposit in South Australia, with a potentially low-cost method of production through in situ recovery (ISR). ISR is a proven, low-cost method of extraction in the uranium industry and dominates the bottom third of the uranium cost curve. Its scope for lower capital and operating costs is potentially a game changer for rare earth extraction, where Western producers are struggling with cost inflation and volatile commodity prices. Upcoming catalysts include progressions in circuit design and advancement towards a maiden resource at its Boland deposit.