Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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It was mentioned in the Proactive interview that CM was still hopeful they would start drilling early Q3 so with any luck sometime in June we’ll get a drilling plan (completion of the stage 3 exploration programme end of June?) and drilling commences in July. Failing that August for the start of drilling. At this stage Cobra is a total punt but like all explorers with lots of potential until the drills confirm whether the areas are mineralised or not. Now is the time to build a sizeable position but it’s still a gamble. News in the next couple of weeks about funding from the government would be positive, stage 3 completion end of June would be positive, drilling commences positive. Given the market cap is only £2.8m and only 186m shares in issue if they do find a sizeable mineralised new area and can extend the existing resource to 1m oz at open pit then a market cap of £40m is not out of the question! That’s 14x existing market cap! If the drills come out blank however.....and that’s the risk reward!
Raf- My average is 2.70p and am topping up when I can- I am surprised that the share price is below 2p, and I think thats because a lot of people came in without the real understanding of the process and expecting assay results and now they disappointed not have got these in the form they expected. If you look at the COB twitter account the following info:
?????????? ??????????
94,000oz JORC Resource
2km of anomalous gold in soils north of existing resource
Current resource area represents ~10% of the anomalous gold in soils
11 drill holes with more than 1g/t (up to 16.4g/t) outside the current JORC resource.
makes you realise the potential here. I think a little patience here may well be rewarded significantly. But do your own research and try understand process, also the number of shares in issue is an important consideration and their issue price, if incrementally they are issued at greater price than the previous ones.
Fanyastic isas, wanted to hear something like this, very helpful thanks
My understanding is that the stage 2 results were never intended to give the gold content, they are using other minerals as a way of finding where the gold is most concentrated. Listening to the interview in yesterdays pod cast CM mentions the assay results on page 9 of the most recent presentation. I think we should get the annual results fairly soon and they may be accompanied by mention of drilling targets identified and some indication of the time line for stage three. I am guessing some excitement and news flow around September. We could have decision of SA Govs decision on the grant application in the next 2 weeks which might provide some positivity, but it is not that significant apart from validating the company's approach to exploration, they seem to have the funding for drilling and thewre are similar structures to IOCG type deposits and if these are confirmed as gold bearing the share price will blast off irrespective of rampers.
Thankfully im recovering slowly with odx, aston martin and aa plc, expecting a 30% rise by odx on monday while aston and aa m8 slow down a little next few days
cheers Rafiquetm. GLA
No they not left cobra building, they watching you /us, soon as sp go up they ready to cash in
Im expecting there may be more updates from company just to keep in touch, my understanding is once drilling start which i believe in august/ September thats shen they will know more of grades /quantity etc. A good rns then will make sp fly but same time i b careful too. Sample results given in a summery of 14th may, its disappointing how they presented the results. Also i carefully read page 68 69 of prospectus and it gave me a selfish type intention of company, i hope im wrong or misunderstood. Its my own fault investing without research and just reading this board. Im expecting recovery by july/august, hopefully sooner. Gl
Hello Rafiquetm, I guess we were expecting a list with the grades they found. Have since found myself averaging down again here (and in others incl. Kefi, Vast, Kat and Tym). I think one of the rampers rudely called me 'amateur' back on 6/5/20 because I answered a post that asked what is the worst case here. I said it could go back to 1.5p. That ramper seems to have left the Cobra building. When you say long wait, is that years rather than months ? GLA
Hi Raf. Yes I caught a few rampers and derampers bang to rights with their contradictions. Those who think they know, talk. Those who know, don't. All best
Steadydanny, results of 654 samples are on 14th may rns, thus stage 2 results, now they onto stage 3 which start 2nd haf of year, some members here are traders/rampers, misleading investors, i first believed them and now loosing 45%, its going to b a long wait i think for me, please do ur own search and dont believe professional rampers / traders, they ready to ramp n dump, hope this help investors
Yes a bit confused here as well. They advised ALS was pretty much functioning normally despite the covid outbreak. Must be an RNS soon to advise. Unless the results are great/good/average/dissapointing...which makes me wonder if a Primary bid is being drawn up. As a PB could fit any of those scenarios. Time will tell.
I kind of expected that in the 14/5/20 RNS, but it did not list the results (tried their website but just old data there from 2019). Possibly why the SP has returned back to 1.5p. GLA
They advised 2 to 4 weeks for the results of 654 soil samples sent to ALS to be reported. These were completed late March. So I was expecting results by at least late April. Have I missed something?