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Any thoughts ?
https://twitter.com/ZaksTradersCafe/status/1783030456499204373
The buy was mine as I average down again on buy in price.
Only 452 million shares in circulation. No dilution until Mali lifts the suspension on mining permits and the financing is put in place for the mine construction. So Senegal news will be the SP driver over the coming months.
Trouble is there's huge dilution to come as funding is mostly equity based.
Ideally this will bounce back on further good news.
Have a look at #MIRI after seeing that mega news this morning.
Go and check #MIRI RNS. After all, we're here to make money.
Fingers Crossed Brown99, heres hoping it comes sooner rather than later.
HI Brown99, no that was not my buy, ive already heavily invested here, i may dip the big toe back in once more fortunate RNS is issued
Was that your buy Stocktow??
As soon as the mining permit suspension is lifted in Mali we should see a dramatic re-rating.
1) Mining Permit Granted (Back to 3-4p)
2) Finance to develop the project completed (4-6p)
3) Start of Mine Construction (6-8p)
Thanks Browns99, helpful to know yet does not stop the worry regards the continued depletion of the share.
I guess all you can say is tighten your belts and sit in for the long bumpy ride to a mining permit!
Stocktow
I have received a reply from Bert today . I asked why the directors weren't buying any shares. His reply was "3 Cora directors picked up more shares in the CLN conversion recently"
A 600,000 share buy today and the SP does not move?
As id mentioned, im really concerned, i think this is something like a +20% drop in about month?
Hence my point raising if Directors/Owners believe in this company so much then why are they not "filling their boots" at this point in time??
Another 5% drop on less than £700 worth of sells. I sent a DM on X to both Cora and Bert expressing my concerns of this situation!! If this Permit suspension continues for many more months I'm rally worried that the share price will go below 1p and further. Directors need to buy some shares to show they still have faith in the project.
Hi Brown99
I can only but hope you are right with what you say, i would assume a tell tail sign would probably be a major buy from Directors/oweners then the likes of us small fry will miss the huge jump in value!
The only return response i can say on funding which is generally a huge worry/concern across the globe for numerous reasons at the moment is RUSSIA. They could be used as a mechanism to slowly by back the mines, you know how the Russians like to get involved with gold, especially when half of the G7 are/have sanctioned them.
Mali wouldn't have the funds to develop a mine like ours, they rely on investment from other countries to build and go into production. Barrick Gold have recently mentioned that they have budgeted $10 million for exploration in Mali this year and are awaiting the lifting of the permit suspension. They also said that they believe the suspension will be lifted by the middle of this year. Barrick Gold and B2B Gold will be pushing for this to happen for sure.
As id mentioned over a week ago this stock is continually in decline here, whilst i appreciate the current circumstances in Mali at this rate there wont be many/any mining companies for the Mail government to fleece from especially those like Cora that don't have or yet to start any physical mining.
Wouldn't bet to guess the Mali government will anyway just wait for those like Cora to crash into administration then buy from the owner at a ridiculously cheap price to work the mine themselves. i know im being a little flippant out of frustration but you just never know.
Hi Legalwolf nice to see you here on the comments board once more, its been a very long time. Dont disagree with your point about Mali, regardless it is still a huge worry that this share continues to tumble
I think Mali is caught up in the geopolitics involving Russia. Therefore, this could be a very long wait indeed before anything happens.
Coming up as sells but I know there is a buy in their as someone i know told me they bought in today, anyone know why its showing as a negative rather than a positive?
Same here, month on month this share is in decline, i do hope something will happen sooner rather than later otherwise our share holdings will be minimal to almost worthless.
Also surely if this share were believed to be that good with the Board then why have they not filled their boots with more shares at this price point. As the BOD's have not this concerns me even more so!
Why is it taking so long to lift the permit suspension in Mali???
Are we still trading