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Would have loved to have attended, but unfortunately too short notice ..
But sure its going to be good promo and so it should be a very rare and interesting investment proposition is BOLAND...
ATB
Cobra (LSE: COBR), an exploration company focused on the Wudinna Project in South Australia, announces that CEO Rupert Verco invites private shareholders for drinks and Q&A in central London on Friday, 17 May 2024 at 3.15 p.m. BST. David Clarke, Director, Business Development and Asset Marketing, will also be present.
Same Bcb….. too short notice- I only go into the old smoke once a week now, so Friday is out.
Others Enjoy if you’re going.
Are they currently in London at a mining conference?
Have to wonder who they really came to talk to.
Yes, there is a mining conference in London on Wed/Thur - I'm sure they are here talking to investors/potential investors. I intend to go to the meeting on Friday. It sounds like a good opportunity to chat with RV and DC.
Please will you take some notes for those of us who can't attend.
I will do my best.
…… it’s an open bar!… I’m looking forward to reading the notes from Lord Chaos.. :-)
I will consider it a small return on my investment!
Https://www.weare121.com/121mininginvestment-london/mining-companies/
One of only 2 Rare Earth explorers in Australia.
Can anyone going tomorrow please try find out what the worse case scenario is for developing Boland?
Not best case as that will never materialise so what’s the worst case, pilot study 2024/25, scoping study 2025, pre feasibility 2026, DFS 2027 then production same year?
Is their strategy to prove up Boland and the ISR capability then flog the asset or take to production?
I’d really love to know the 3-5 year plan rather than the next 6-9 months!
Thanks in advance.
I will attend tomorrow, any more questions?
Well this may have been touched before but my memory doesn't serve me well.
Considering the large number of Aussie investors in COBR, are they seriously looking at getting dual listing on ASX as they appear have a lot more interest than the British market?
Isn't it more the case, large investors are Aussie & PI's are British. The Aussie PI's have a huge choice of companies with prospects.
"Nortrust Nominees Ltd* 10.20% 19 Jan 24
Craig P Ball and Suzanne K Ball 9.88% 19 Jan 24
David Clarke (Director) 9.37% 10 May 24
Peninsula Resources Pty Ltd (Andromeda Metals Ltd) 7.80% 24 Jan 24
Christoph Weiss 3.02% 9 Nov 23" from website
40% in sticky hands then the PI’s on here that hold 1-3% each so maybe around 50% free float?
We only need roughly 375 people to buy 1 million shares each then there’s no shares left!
I attended the informal meeting yesterday. I had a long chat with Rupert which included many things including flies and rabbits! He is very amenable and knowledgeable and very focused on Cobra and certainly has our best interests at the heart of what he is doing with the company. Obviously he couldn’t tell us anything that is not already in the public realm, but he is very confident with the company’s prospects.
I also met Lord Chaos who, despite his name, was genuine and friendly and knowledgeable about the company.
Frog
That was very kind of you, DartFrog. It was great to meet you, too. You are such a nice guy, and I concur with everything you said about the meeting. I have a few things to add that may be of interest, and when I have a little more time, I will put them on this forum.
Thanks, look forward to hearing more.
Thank you Lord Chaos for your kind words.
Frog
Ok, I have a few minutes to get my thoughts down.
I spent well over an hour talking directly to Rupert and David. These two really nice guys came across as very personable and knowledgeable. I also found them very engaging and, above all, highly enthusiastic about the company and its future.
It has made me want to invest more in the company, and I will do that as soon as an opportunity presents itself.
RichyRich1, I asked them your questions below and received a comprehensive answer. In summary, Cobra does have aspirations to become a mining producer, and that is what they are shooting for. However, they are mindful that an impressive offer at the right time or a hostile takeover are always possibilities that they need to consider for best shareholder value. They made it clear that they want to take the REE out of the ground themselves in a perfect world. I even met a nice chap from a huge company they have lined up to sell the REE in the market place (see, they really are playing the long game).
But, there is a lot to do before that can happen. The next step is to get the re-assay results back so that they can validate their model further and then mobilise a massive drilling campaign at Boland so that it can maximise the MRE towards the end of the year. In parallel, and for me, this is the most important step; they need to complete the ISR lab tests, which are underway and should be available by the end of June. If the leaching result are better than 50% then we have a commercially viable mining prospect and Boland only needs to have 100mTonnes for a working mine to be profitable (I know they are confident they are sitting on hundreds more).
Next, they need at least 12 months of aquifer measurements at the wellfield site before they will be given approval to undertake the pilot study. Then, they need to analyse those results (during which time there is obviously more drilling). So, by my reckoning, that takes us to mid-2025. So maybe 12 months after that, we are mining REE, and Cobra is 20p per share (based on only 100mT and a 10 year mine life).
Obviously, it's not financial advice, and please DYOR.
I am also happy to try to answer any other questions you have, provided that they pertain to the topics we discussed on Friday.
Thanks. A few questions spring to mind.
If the drilling campaign is to be massive, did you get a sense of funding required for this?
Did they state MRE by end of year?
Did they have any useful 121's at the conference?
My understanding is that no more funding is required for the next phase of drilling. This is now all covered by the November raise and the recent April raise. I got the sense they are really trying to ramp up the marketing to get the share price to 2p, which unlocks plenty of cash through the warrants.
Yes, MRE around Oct-24 but I guess this might slip a few months as they usually do.
Yes, they said the 121 had been very useful and they had a good level of interest, but they didn't elaborate further.
Thanks very much for the feedback - all very much appreciated and also very interesting
LordChaos, many thanks for your insights.