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Https://www.mining.com/american-rare-earths-rejects-400-million-spac-takeover-offer/
Very happy with the way this company is progressing, efficiently getting on with the job. A shame I'm not buying now with all the progress on the Ree's, which were unknown when I bought in at 2p.
Have a good weekend everyone.
Well said ShipwreckSheep. They have a cohesive and structured work plan for the rest of the year which they have communicated clearly to shareholders with timeframes. All very good. They have acquired the funds they require for said activities at a minuscule discount. Nothing really. The market has reacted positively. I don’t think RV and the team could do anymore. Like I say the communication is excellent to shareholders. We know exactly what is going on.
Everything is extremely positive and I am a happy shareholder with the progress being made.
Well, some people are just impossible to please, Rach, aren't they?
You spent time in several posts bringing up placing and the entire argument that it'll be easy to buy into Cobra cheaper after it - I had pointed out that several times placing had been at premium or minimal discount and SP ended higher on the day of the placing, which again looks to be happening.
Are you seriously arguing that budget of 700k for 5 months is insane when that 5 months have included a full drilling campaign and other activity? If you please point me to companies who drill for free, I'd love to hear about them. In addition, you only know that they have spent "up to 700k", I doubt they have used up all of the budget already, but who only raises funds when the bank balance reaches zero?
Again the placing has been done with the support of the original vendors of Wudinna who remain to show strong financial interest in the project. Management and BoD highly aligned with shareholders here with holding 30%+ of outstanding shares. Hard to give the benefit of the doubt to you by now, before it was "They'll raise in the not too distant future, might get in at big discount to current SP", now that they raised at pretty much par to the current SP and are fully funded for the year, a budget of ~1.5m£/yr for advancing a promising project seems to be worth criticising to you. When really Cobra has been hugely economical with the budget they work with for years and kept dilution to shareholders at bay with equity raises at premium or small discounts. Laughable, sadly, I was hoping you'd be factual, but you're just continuously negatively biased even on things there's zero reason for it. No one says it's all done, everybody knows there's de-risking of Boland to do, but criticising the raise of 600k£ for 2 hugely important drilling campaigns that will underpin the maiden MRE of Boland? That was the best move Cobra could have done, and I'm very happy to be fully funded through to the maiden resource estimate, as I think are the vast majority of shareholders.
RachT2 your darling RBW raised £4.3M late last year by placing shares and they currently have a similar amount of shares in issue as Cobr. GGP have over 5B shares and they did rather well. How else do you expect junior miners to fund exploration?
Maybe if you continue to talk cobblers then LSE will delete your latest reincarnation as well.
Good Management, getting on at a pace. Well done RV & the team. Plan looks sound, GLA.
As a shareholder, I am not a little disconcerted at today’s news, in fact I’m pleased they’re moving at pace. As a non shareholder, you are a little disconcerted. It’s a funny old world.
Some members may have spotted that I have had to obtain a new account – when I attempted (several times) to login LSE claimed there was no account with my email address???? Yet when I attempted (several times) to register again using that exact same email it told me I couldn't use that email as it was already is use by another account. Frustrating.
I might be a lone voice here so I'll get my tin hat on but I find the fund raise a little disconcerting. 5 months ago cobr raised £991k gross - lets say £960k net, they spent £260k of that on buying the remaining 25% of Wudinna so in the last 5 months they've burnt through £700k and have had to do another dilutive fund raise for £600k. Let's say that is £570k net - how long will that last if the last £700k only lasted 5months? There's already a lot more shares.
Iv been slowly accumulating here over the the last 3-4 months - one of the only significant REE resources in Australia - with a 7mil mcap - I keep thinking when not if goes much higher. Really happy with today's news as I though one would come. Onwards upwards from here
Nice to see a couple buys go through. :)
Exactly, and it's been implemented without fuss, in a "hey guys, just to let you know, these results make us wanna do 2 AC drill campaigns within the next 6 months, and we're fully funded for it" way. What's not to love really? Except that it likely brings me to < 3% of outstanding shares when these get admitted, how sad.
Agree shipwreck , placing is a tiny discount compared to some of the placings I have seen across AIM over the last few months
"Not fussed with the placing"? I'm tbh absolutely delighted with the placing, 2.5% discount to SP and fully funded for rest of the year, yes please haha
Incredible news.. Moving forward quickly .. The assays confirm .. District Province scale...
What is not to like about Cobra... Well run Company Tightly held shares , supportive long term holders..
What a time to add or jump in and invest at the same price as the listing...
Eventually the true value of Cobra tenements will be seen in the SP...
ATB
Well hopefully someone will share their thoughts on these set of results. I am not fussed with the placing as 30% went to investors so still a low float in reality and was not at a discount really as we are at 1p.