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Well we still have a way to go but looks like it’s progressing. Mineral Resource Estimate forecasted for December, with pilot ISR in January. That’s when this should really start moving.
I'd argue that in the environment UK listed mining stocks operated over the past 18 months or so, boring hold is pretty good haha
But yeah, agree with you, would like to see the Boland results to accelerate project derisking steps a bit
Nice find, now time for the to start going up, it sure is a boring hold (for now)!
100% agree - spot on with your views SWS.
Those big trades today are just ISA xfers. Also the real sell price is 0.97 but they report it as 0.90 for some reason.
Yup bit odd to have sells so close to news. Quite chonky too haha well hopefully the results are a right banger.
Definitely happy with that appointment! It'll help with the network that he has. And yeah, not the earth shattering RNS yet maybe that makes people buy, but with Boland drill results in the next few weeks that will possibly really drive home that this has not only scale but also high-grade sections (I think we'll see average TREO above 1000ppm this time), hard to understand why there's sells over these past days - this next RNS in April might just be the most important Cobra RNS since the maiden REE MRE.
I mean, partly I agree with you there that the wording in the RNS is often a bit too conditional, like "making the right steps", "has the potential", it's all very passively worded, I'd very much like to see an RNS that is going on the offense. Take the re-analysis RNS alone, 2 of the bold items are "potential": "Results demonstrate massive scale potential" and "In situ recovery ("ISR") potential". Even though "demonstrate" is a strong word, adding "potential" always weakens the impact. Even "Results indicate massive scale" would drive the message home much better, despite "demonstrate" being a stronger word than "indicate".
But I hope they'll improve at that whole "attracting new investors" game. On the plus side, they're doing all the right things imo, divesting the copper project for some money today another good step, that was just sitting there without an exploration plan anyway, focusing on the prize asset, being very economical with genuinely making the most of historical drill samples that are already in the samples library & choosing low-cost exploration techniques, etc. Personally I prefer a company like this, who can be a bit amateurish at PR (for me the website still not being up to date is the biggest criticism there) but good at actually developing the project in the right direction and economical with the budget they have and doing raises only at smaller discount or last time even a premium, over all these explorers that just talk the talk, but waste a lot of funds, exaggerating results for a short SP pump and dump, and raise at mega discounts.
Not an earth shattering RNS but an encouraging one. This guy, now an executive director, purchased almost 13m shares at the last placing which shows his belief and commitment to the project.
Yes, I agree with everything you said. But all the news is present at such a low key with no real excitement and no significant attempt to attract new investors. I can’t help but think RV is keen to get in at 1p before he ramps this potential beast up!
What makes you think so? If he didn't care about shareholder value, he wouldn't have cared about raising at a massive discount in Nov like many other small-cap UK-listed explorers do, but they raised at a premium. The work is also progressing, we just had a drilling campaign at Boland (which is hopefully the prize asset and all the first signs look great on that front) and waiting on results, had first re-analysis results from historic samples that showed solid intersections (especially if we keep in mind that the historic samples were from drilling campaigns that didn't target rare earths, so any targeted drills will improve on these grades), more at the lab now, then we had the update on new tenement and an update of the uranium prospectivity on that tenement (which also is in the paleochannel that Boland is in, so REE + uranium really), we've also been informed that they are working on the ISR study.
News flow is all as indicated by Cobra in Q1 as per the end of year presentation: https://cobraplc.com/wp-content/uploads/2024/02/Cobra-Resources-December-Update-FINAL.pdf
Only thing that is a bit irritating to me is how the website takes ages to get updated, still way too focused on gold and making it appear as if REE is the secondary focus, which clearly it isn't, still showing 75/25 split between Cobra and Andromeda even though Wudinna is 100% ours for a while now already, I had sent an email to them about it and was told they are working on it, but very unclear to me why it seems that difficult for them to keep the website up-to-date, especially with the recent PR effort with several interviews, it would seem logical to have the information on the website as accurate as possible to be able to attract new investors (which the fundamentals of the company at this market cap should be easy really)
How much incentive does Rupert have to increase shareholder value whilst his own shareholding is so low? Is he playing a waiting game?
Hi Michael, yes I saw that- I’ve still got a few shares leftover from the old days… I think £100 a share will see me break even…. Not too far to go from the current 0.20p…. :-/ atb.
Have you seen challenger rns this morning ,pity they didn't go there instead of
Bahamas years ago finished up on bpc about 90% loss
Do we have any clue as to when the Stage 2 re-analysis results are due - really keen to see the results from Boland - but I suspect that its the Uranium from Pureba (if discovered in volume) that might finally wake the market up, ironically.
I too have a few million shares and I am adding to that very slowly on any positive news that takes us in the right direction but I wont add a substantial amount more for the reasons highlighed by SWS below.
Sws…. Thanks for replying….. the reason I stopped adding was because the SP goes down after I buy! (Apart from the 250k last week). I’ve got a few million shares valued today at roughly half what I paid by average over the years.
I know placings are part of the growth for greenfield mining stocks, so I presume most of us marketeers now wait on the sidelines for a bumper rns ready for the next placing?
Well, with Cobra, "the market" is us, I'd say. There's no big institutional investors (yet), there's no shorting going on, the 30% that the original parties to the Wudinna agreement hold are in sticky hands, so the price moves are caused by the other 70% of outstanding shares being traded by - almost only - retail investors like us.
So the question is, for any retail investor: If you do think this is severely undervalued, wouldn't it make sense to increase your position? Because that answers your question why "the market" doesn't take the similar stance on the valuation...as the market is us, there's apparently a reason why many - despite thinking the fair value of the company is (much) higher - don't go after that by buying more shares.
Very much appreciated LordChaos.
I suppose the question we ask ourselves is why isn't the market taking a similar stance on the valuation. If the company would state in an rns they value our cricket players at $, surley that would give the SP a leg up....?
atb.
Haha, my £3 valuation was for a fully operational mine, which is a long way down the line. Sorry if I got you too excited.
My 2.5p valuation is for the share price right now, based upon what Cobra has today. My valuation is based upon resource estimates for Clarke + Baggy Green REE, Thompson REE, Boland REE (at current REE ore prices) and Barns+White Tank+Clarke+Baggy Green Gold (at $2000 gold price). Calculation includes total tonnage (factored by TREO ppm/%), recovery percentages, a reduction factor based upon the quality of find [Measured (0.1), Inferred (0.05), Extensively Drilled (0.01), or Explored (0.005), with a 10-year mine life. All in an Excel spreadsheet and adjusted weekly. Today's calculation $17.99 Market Cap (2.7p share price). It's far from gospel but at least its a stake in the ground!
Lordchaos..... you're causing turmoil! Last week you said we should be 2p and now you're peddling £3..... I'm loving the optimism!
Ive mentioned a few times on here I think the company should put a value against the targets and mines it has- it would really assist some of us laymen/women with our own theoretical valuations. On that note- can you put your calculations on here that gave you your 2-2.5p valuation?
Cheeeers.
Roasted... lol
Well, following the information provided in the 'Sunday Roast' interview, if Cobra manages to get the 10sq. km. of Boland into production, even at current REE prices and a 10-year mine life, the share price should be about £3. I know we are a long way from that now, with much dilution to come to get there; it is EYE OPENING!
Increase in POG helping too.