In the next few weeks Cobra will be spinning off West Musgrave IPO in the next few weeks. Cobra shareholders will receive 1 for 4 free share in West Musgrave as well as getting first option to buy 10,000 shares in the IPO at 20c each. A further spin-off of its other tenements in Qld and PNG is also on the cards. Cobra stock has been trading between 2.5-3 cents. This may change very soon.
