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Morning alwaysone et al,
Wraith, I forgot about mentioning your million plus yesterday, apologies. Hope you’re well?
Share price by Christmas, 10p? I’m not sure it really matters. Looking at other junior miners, take HUM, for example, where it is producing.....it produces 100,000 ozs and change pa, but is situated in a west African state. It’s mcap is £141m. Sure it has other projects in the background, but so does Cobr. Nonetheless, hum was valued at £80m mcap as a mud field when POG was around $1350 per oz.
Cobr will have similar amount of shares in issue over next few years, and assuming drill campaign throws up a cubic metre of gold across baggy green, Larwood, laker etc, we can assume a re-rate to at least 10p-20p without even breaking a sweat. Naturally we will only be a 75% owner of the mud field and there will be considerable socio-political issues to overcome including the Aboriginal considerations. Regardless, SA are keen to see mining deliver economic results in the region.
But as wraith infers, many folk here are looking for some serious gains from the IOCG targets, which will make, if one proves up, any SP prediction meaningless and minuscule. It’s a proper game of patience and nerve. Hopefully, I’ll be proved right in my conviction and everyone here enjoys rewards.
Sticky holders don’t help the SP move as the volume of shares traded is quite small, and it seems to be the same ones sold!
Warrants are possibly providing a little liquidity, so we will see how things pan out.
GLA
Dibs61. I can only hope that are right. I’d be happy doubling by Christmas-:)
Alwaysone- I think 10p target by Christmas is achievable with good enough initial drilling results. MC at 3p is £5.64m which is paltry given that the gold price is $1900 and they already have a JORC resource of 211000 ozs. They’re aiming initially for £1m ozs resource which would certainly multibag the SP from here, I would say 15p comfortably, probably more.
I never forecast a price but the more I’ve read about this company and compared to its junior peers, subject to pog staying high ( I think above $2,000 soon and higher) I honestly think this will be 10p a share. Couldn’t put a timing on it but I’d be surprised if the price doesn’t double from here before Christmas. In fact, I’m moving out of another gold share to here tomorrow to increase my holdings even more.
Pash. My opinion. That's all it is. If a share is going to move it needs volume trading. If there are sticky shares with a long term view, then maybe if shares are given to the cause, then some stop losses have been triggered without proper due diligence. Some investors imo hold vast portfolios and miss the ones they thought might just make x amount. It is becoming a very interesting company. I wont cross ramp but since Trumps rare mineral executive order mines are flying. Some sleeping despite their potential. I mentioned a couple of months ago mines are the new pharma. Difference is pharmas can make a product. Mines are mined for minerals. Last time I looked they dont make land anymore. Just my opinion. DYOR. GLA.
Newbie here With those big sells you would think it’s warrants, does it say roughly how many are left and is it from the 187 million, do they put so many through over a period of time, obviously as volume and news comes through it will help flush them through cheers pashman
Yes agree , it would be good to get the warrants converted and the company to have the cash to speed up exploration activity. Also they can be converted and sold only once, therefore limiting further sells at these low prices.
Lets also not forget that these warrants adds more to the coffers and reduces the need for another placing, Craig even told us recently that there would not be a need to place until late next year.
I quite like warrants because they are drip fed in and are absorbed on days like today, rather than placings which can stop any potential rise as we have all seen before.
Carribean- my guess is that these 300k sells are probably forward selling of the 2p warrants- if the price holds over 3p for the next 5 days or more, then all of them be required to be converted , then there will be no brakes until 4.5p.
lol, was it a buy or sell though.
Alright, time to fess up....who got the squirty bum?