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#COBR MMs held it down this PM to fill those large buys printed after hrs. (They won't be able to hold it down for much longer).
Load up on any dips if you can!
Will be 5p before month end imo
Share talk interview on 20th Feb and further gold results by 28th Feb latest.
Barnard, glad you acknowledged in your post yesterday that this company is undervalued! £192m would be a 50+ bagger, but I think most of us will be satisfied with any multibagger! :)
Cash costs of say $800, profit of $810 per oz... if the 211k oz were measured, would be worth roughly $170m or £130m... but they aren’t measured so not worth anywhere near that... I approximate the 211k is worth £5m currently...
Hiedhoncho YOUR 10.33 post are my thoughts exactly. I'm not invested here but the noise on Twitter and LSE attracted me. Ive been invested in an explorer for years and the price in the ground, Aisc figures mine build,length of construction,mine life ,water,electricity,transport etc..there maybe a spike and some profit but the 192m MC now is nonsense..IMO..I hope pi's make some cash here and I'm just passing on my experience. I might be wrong and it doubles tomorrow..one to watch. GL.
https://mobile.twitter.com/M35Blue/status/1230043082978209792
HH - Can I refer you to this thread on twitter, very interesting reading.
Potential resource versus current MCAP cannot be understated IMO but it's each persons own decision to invest. GL
Are those statements factually correct ?
My reading of the RNS’s is somewhat different.
Let us look at most of those statements on a case by case basis.
• 33.34% drilling exploration costs paid by signed partner.
My reading of the RNS is not that the drilling contractor (I am assuming that is who you are referring to, given that you utilised 33.34%) will be (as you have alluded to) picking up the costs for 33.34% of the drilling, but are in point of fact receiving 66.66% of their payment to drill these holes in cash, and will then receive the remaining balance (33.34%) of the costs for which they are entitled to by means of Cobra issuing them shares.
• Wudinna Gold Project (licensed) 75% owned by Cobra which holds 211,000 oz of gold.
My reading of the RNS’s indicates that currently Cobra do not own 75%, but currently merely have the potential to obtain up to 75%, subject to previously having completed a number of phases and met their commitments.
Currently, phase 1 has not even been completed, and even upon completion only gives Cobra 50%, and to obtain the remaining 25% they must also meet their commitments to complete a number of other phases.
So, being that phase 1 hasn’t even been completed yet, and 50% will not be obtained until the completion of the phase, in essence Cobra do not currently have any ownership on the license either, but merely have the option to.
• 211,000 oz of gold x current gold prices = £256m. 75% = £192m
The 211,000oz that you make reference to are currently merely an aggregate of the “indicated” and “inferred” resource, and zero of that 211,000oz is in the “measured” grade of a resource estimate.
As such, the current in ground valuation, if indeed anyone was interested in buying it, would be very small.
The figure you are quoting is the potential revenue figure over the life of the mine, and not the potential profit to Cobra.
And with regards to the 75%, as detailed above, that is the current maximum exposure to the license that could be obtained by Cobra, but as even phase 1 has not been completed then the current percentage attributable to Cobra is 0%.
But I don’t expect anyone to accept the above as fact, it is merely IMHO from reading the RNS’s, and I may have read them incorrectly.
What I would suggest however is that anyone interested in investing in Cobra first reviews the RNS’s themselves, rather than just accept some headline data placed on BB’s by other posters.
Watch this come back
#COBR ALL THIS FOR £3M CAP!
• Funded £613,300
• Main Market Listed
• 33.34% drilling exploration costs paid by signed partner.
• Wudinna Gold Project (licensed) 75% owned by Cobra which holds 211,000 oz of gold.
• 211,000 oz of gold x current gold prices = £256m. 75% = £192m
25km East of Baggy Green further intersections
3m @ 13.9g/t Au including 1m @ 37.8 g/t Au
18m @ 0.87 g/t Au including 6m @ 1.5 g/t Au
Best bit - 65km x 20km wide of concentrated gold anomalism
Ha ha