Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Bit of a jump in price today. Lets have that everyday for a month
But CORA stalling!
It seems as though CORA has detached itself from the price of Gold entirely, especially when comparing it to the performance of comparable junior miners today.
Funding and the political risk are weighing most heavily.
Is anyone confident about the political situation happening in Mali at the moment? BM also seemed to swerve this question on that interview.
Here's to hoping 2023 will treat us a bit better. I'm still all in.
Good luck all.
Decent interview, but was it also slightly disingenuous not to mention the Term Sheet as another stranglehold on the share price? We will have to see what price the revised Term Sheet with Lionhead will be executed at, and how much debt funding will be taken on as well. What price are people now expecting for the fund raise?
The plans for building of the gold plant is promising and will happen. The other Yanfolila permits is pretty impressive and it seems like once Sanankoro factory is built and starts producing, the research on the other permits would be pretty extensive because cora would be self sufficient enough with more than enough liquidity to reinvest into Yanfolila. The situation in Mali I feel is very safe and stable.
Yes very positive interview, appears to be on the cusp of something special, hopefully.
Good interview. Cheers
Nice Interview.
https://www.ig.com/en-ch/news-and-trade-ideas/interview--cora-gold-on-its-prospects-having-de-risked-its-flags-221207
Looks positive in the medium term
GLA
That's the jurisdictional risk for you right there. Makes it even more unlikely that funding is going to be secured right now and whilst the country is under military/de facto Russian rule! All imo and DYOR.
IMO there is no investment here until we know what is happening with the revised Term Sheet. For sure, if it does ever go ahead, the £30 million will be raised at lower levels - that is always the way, as the large investors get discounted shares as their incentive for providing the funding. What we don't know is what price level the £30 million will be raised at, and exactly when. I have always thought that the troubles in Mali/Russia might delay this project, and whilst the DFS is now complete, we have no idea whether/when the revised Term Sheet will go ahead. If the geopolitics don't improve, I wouldn't rule out a sale of the asset, perhaps to an African or Chinese company? All imo and DYOR
TBH I think I feel and have felt like we were only ever riding on the back of majority shareholders...Lionhead etc. and we merely feed loose change into the "matrix"......actually I guess it's not much different in most AIM shares! They are certainly tradeable on momentum and I guess I for one get excited by potential here and in others...and become a LTH.....which is 99% not the thing to do on AIM or you will make a small fortune out of a large fortune invested.....we search for the odd gem and I thought I had found it with CORA....when the days become darkest and the unknowns become "fearful" for the worst.....more than once the clouds clear and off we go to sunny pastures new....maybe here in CORA...never the less I still am gambling on the fundamental potential and the £13m market cap....and still feel it will be tradeable at these prices...? DYOR! p.s. if I see 10p I'd probably sell most of my holding (on-line) but keep my certificated shares for the what if!
GLA!
So as it stands, with a $30m potential equity raise to fund the plant build with the rest being debt, Lionhead will then have control of the company. That doesn’t sound good for us retail investors. Thoughts?
Imo we have to wait to see what the revised Term Sheet will look like. There is no way Lionhead are going to end up with a worse deal than the previous one. Remember, the last term sheet was viewed as a capitulation by many. Again, is this being slowed down, because Lionhead had this in the bag? All imo
and dyor.
Half a billion gold reserve and market cap of £13 254 000. This is a keeper and will fly once the gold starts to pour.
after today I am nearly topped up to my previous record holding! It is the right time...makes sense to me! If the term sheet or whatever dilutes the sp I wiil add accordingly, but I'm not going to mess with the project dynamics as are and a £13m market cap! GLA
it is frustrating tony_currie, even if you are a producer and selling the gold with a larger resource than Cora, you can still have an mcap of only £13M. Would probably be a different story if it was in Aus. GLA, Dan
Mkcap of £13m - DFS Gold in ground 400,000 oz (worth £500,000,000)
Is there some mistake here?
They've very sensibly pulled in their horns and concentrated on the core discovery. These are now reserves with a very high probability of being what they are claimed to be. The low probabilities are the financing and political, military situation in Mali plus future course of the gold price. It would have been nice to see a bit of sensitivity analysis - say with the gold price of $1500. Still at 4p it could be worth a punt!
Its a good DFS and puts to bed some of the doubt about wording seen recently of "update on DFS"
BM has so far delivered on everything he and the team have set out to deliver on. He isn't the most hypey type of CEO, but that isn't a bad thing either.
He just seems to get on the with the job, and we are another step closer to that first pour.
It would be great to get that LOM up to nearer or just over the 10 year mark and hopefully future drills will do that.
Make no mistake though this improved economics DFS dropping before Xmas is big news.
Funding next, lots needed, of which Lionhead play a part in, but only a part, so will be super keen to see how it all unfolds.
Great work and exciting times ahead.
Decent RNS.
Lionhead are the proverbial monkey with a nut in a bottle here… They have a tight grip on the economics of the project, but more capital is needed and they’ll have to loosen their hold if they are to succeed. The question for equity holders is whether management can negotiate their way through this. If they can, then the current MCap is an attractive proposition for investors.
Interesting that they are renegotiating the Term Sheet with Lionhead. Last time round it was arguably one sided, so let’s see what the renegotiated deal looks like. Funding announcement the next stage and how long will we have to wait for it?
These are great news RNS's lots of information to absorb. The DFS shows the mine is super viable and the Optimisation project shows fantastic returns very quickly.
? 52.3% internal rate of return ('IRR')
? 1.2 year payback period
? US$71.8m first full year free cash flow ('FCF')
? US$234m FCF over life of mine ('LOM')
? US$997/oz all-in sustaining costs ('AISC')
? 6.8 years Reserve mine life
? 56,000oz pa average production
? US$90m pre-production capital (including mining pre-production & contingencies)
"Investment firm Lionhead has confirmed to the Company its continued support to fund the future development of Sanankoro. The Company and Lionhead are in constructive discussions in respect of the arrangement for a funding package of up to US$30 million. Furthermore, we have started discussions with a number of potential lenders to support the Lionhead term sheet to fully fund the Project. The Company anticipates providing further updates on these fundings in due course."
Bankrupty - IF that is the case, then I hope Cora will just come out and be frank about it, rather than try to make out that 'all is well' and that switching back to exploration mode is simply a change of strategy by the company, and nothing to do with present difficulties. However, so far the company are still intimating that 'all is well' and that they are working towards development, with the DFS being the next stage of that plan to unlock the Term Sheet funding, so let's see what the December update tells us. All imo and DYOR.
I think Legalwolf, we have between us just written the next DFS RNS update...lol