Cobra Resources PLC (LSE:COBR) soared 16% as its strong start to the day continued into the final hour of trading on the back of strong buying interest.
The gold explorer announced positive results from its Wudinna Gold Project in Southern Australia, with all holes, at a 350 parts per million (PPM) total rare earth oxide (TREO) cut-off, producing significant intersections.
Meanwhile, at a 500 PPM TREO cut-off, 81% or 13 of the holes returned multiple substantial intersections per hole.
The group said it will publish outcomes from a further 104 holes at two different projects later this month.
On this news on Wednesday, the London Stock Exchange automated two price monitoring extensions.