Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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https://www.lse.co.uk/rns/CORA/exciting-high-grade-tekeledougou-drill-results-od1qxegoc1s9016.html
Kouroudian Zone hitting 1m@102g/t from 11m
We have some exceptional ground outside Sanankoro. Big big future for Cora Gold.
Usually, these companies hit success in Africa, develop a project and then go hunting for extra land to increase Resources. Cora have that land tied up already
https://www.coragold.com/project/yanfolila-gold-belt/
Definitely. The Yanfolila permits certainly look exciting. Great historical results.
Absolutely - all of the focus has understandably been on Sanankoro, but Cora have a contiguous licence package around this licence, as well as other projects. Although it's more medium to longer term for the exploration of them, the potential growth of the company beyond Sanankoro also needs to be factored in.
Agreed Iaintittle - we are only at the beginning of the discovery journey. Once mining starts Cora are in a very strong position financially to expand. I would also expect a good dividend to be payed annually at that point.
I don’t think that you are too far out with the numbers there Tony but what I would also hope for over time is upgraded indicated resource of 100koz + a year that would part replace the gold mined but also enable the plant to be extended. We are currently awaiting a resource upgrade on approx 7km of the 30km strike length on our tenements in the knowledge that a lot of the 7km is open an all directions.
The potential revenue of Cora hasn't been mentioned much yet. However simple maths(using conservative figures) are 500,000 Oz's resource. Mined over 10 years would give an annual gross revenue of £60 million per annum. More the twice current Mkcap!
The term “investment” is interesting and it all depends what your after. In terms of deposits, even though they only own 30% and is under 400m of cover, make no mistake about the importance of Havieron. From its lows of £0.0005 to 38p last year, it has certainly been a millionaire maker. There is a concrete case for GGP holders (myself being one), that it could develop into a multi Billion £ company.
From a personal standpoint at this point, Cora is my largest investment behind AZY and is my preferred investment over anything else.
It’s 100% owned
Starts at surface
High grade
Long widths
Oxide Gold
Open in many directions.
And with a huge resource upgrade due within weeks,it’s a very exciting time to be holding here. My target is 5-10X the current Market Cap and I believe that is achievable within 3-5 years.
Tenement area for Cora is in excess of 1200km2 and for GGP it is around 1500km2. Cora looking at mine construction next year and GGP already getting to the ore body at Havieron. GGP ownership of Havieron is 30% I think (could be 25%) so about 1Moz resource for about 28% of the ore body so far (Havieron ore body is huge). Havieron is only 1 of 50 targets at GGP . GGP in a more stable location than Cora.
For me the standout facts with Cora are the shallow depths at which mineralisation is found, the grades, low MCAP and the speed at which they are working. Negatives could be the location and that the resource (265Koz) is currently only inferred (soon to be addressed though). GLA, Dan
I would agree with the comments made already and about the respective market caps and nearer term production at Cora. In terms of the pace of any upside being achieved in their respective share prices, I would say that the % of shares in sticky hands is also a key factor AND so is the fact that GGP has suffered a significant and longer term retracement/downtrend of ~ 50% of its highs from last year. In the absence of some compelling new bullish news at GGP, I think that could mean that there will be more selling into any rises in the share price, with people who have been caught (out) at higher levels?
Cora has also fallen back from its highs, but those were brief flirtations and it is still within the SAME news cycle that caused those highs. The upgraded MRE will the key announcement and the grand finale to come out of this year's news cycle. The figure will provide a barometer for the market to (re) calculate value. And with production to follow next year, the realisation of that value and any re-rate shouldn't be the long drawn out affair that it is turning into for GGP?
In maybe a very roundabout sort of way, what I am trying to say is that I think Cora will reach and surpass its ATH much earlier than GGP, which for me makes it the better investment. In fact, I'm not sure GGP will reach its ATH for some time yet.
All IMO
Thanks star and Tony for the good and honest replies.
Welcome Marksie.
Cora is GGP from around a two years ago. GGP has the value added in at Market Cap £700m. The early bird catches the worm!
1) MarketCap of just £35m
2) Excellent gold grades at shallow levels
3)Cora is at an early stage of exploration with resource upgrade immanent
4) Experienced and Agile BOD. Fast drill results and mining expected in 2022
5) Easy open pit dry extraction
6) Financial backing from the Quirk family
The number of shares in issue makes no difference whatsoever. But the lower market cap of CORA means that adding (say) £70m of value will treble its price vs adding 10% to that of GGP.
I won’t comment on whether one is a “better” investment than the other.
I am a novice with limited knowledge in this game so here goes. I am beginning to believe this could be a better investment than ggp. Could someone please reinforce my thoughts. Ie gold out the ground sooner and a lot less shares?