Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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So how imminent are these results do we think? I am contemplating putting a bit more into cobra and wondering if I got at least a couple weeks to sell some other shares xD.
Well, I have revised my COBR share price model to be even more pessimistic about the overall profile. I still have a valuation of 1.9p. I wish I had a few more quid from a windfall to invest here, especially with more Boland news to come very soon.
I had a lovely tickle with BSE this morning- had to take a few off the table there and put another 600k in the pot here…. I’m getting a sense the snake is getting ready to dance…. :-)
(Off topic Base resources BSE is a nice hold if you’re looking around- I still have quite a few in there for the long term).
Good to be confirmed, but was expected. However, the number of historic samples they sent to the lag for re-analysis is much higher than I thought, I thought it's only around 300. With over 1000, that hopefully goes a long way in derisking the scale of Boland (even if they should turn out lower grade as it's from drills that were before REE drills and hence didn't target rate earths at all). Pretty excited about that number of samples tbh, hopefully ANSTO is a bit faster with turnaround of the assays
Great news and the assays immanent...
A story unfolding here and very pleased to be invested
ATB
A good rns next week eith rise in sp
Can but hope ATB
Had a very quick response to the question; the remaining 25% of Wudinna is costing £260,050 in cash and the issue of approximately 52,010,000 new ordinary shares in Cobra at a price of 1 pence per share. I'll take that as good news as I was expecting it to have cost them more, it certainly reduces the likelihood of another fund in the very near term.
RachT - You were more than "a little rude" given the fact that you dished out repeated insults but apologies accepted.
For someone who claims 40+ years of investing with a moderate degree of success, you should know better that vagaries of share prices are nothing new on AIM, especially junior mining stocks where prices can be highly volatile. If a junior miner proves an asset as a mega find, the price can rocket.
On 19 Feb 2021, COBR was 3.3p and is now 1.1p as we speak. That is a value drop of 67% but who knows COBR may well recover all that loss and go beyond. Who can tell? You must be here for a reason.
Thanks for the prompt responses - most helpful and much appreciated. The figure for the amount of the fund raise spent on the 25% of Wudinna may be hidden somewhere deep in the public domain but I haven't found it. I've sent COBR a short request for that info and will post if I receive a reply.
Correction - 100 million warrants.
By my estimate, the company has enough money to undertake its planned activities until about September. At that point, if the share price is not above 2p, then they will probably have to raise. If it does hit 2p before then, that will trigger about 200 million warrants, which, whilst obviously diluting the existing shares, will give the company sufficient capital for at least a further 12 months (depending upon what they want to achieve).
I'd expect something in the next quarter or so to fill the coffers for the further work programme. Best guess is there's some flexibility with timing, but would think before Q3.
The thing with fundraises here is - which is quite different from the bulk of UK-listed juniors - the last raise was at a premium to SP, there've been other occasions when after raise the SP never even remotely fell to the raise price, as it is a very tightly held share after all, with 40% in the hands of the board and Andromeda Metals. So I wouldn't bet on any raise to give a cheap entry with Cobra, definitely not if trying to build any size in a position, especially if (and yes, that is still a considerable IF) the bench scale ISR tests return promising results; those are expected later this month or in May, as per p12 here: https://cobraplc.com/wp-content/uploads/2024/03/20024.03.25_bloand-results.pdf
Tbh my best guess is it'll be end of Q2. Why? The presentation shows the work programme until June, and it's usually been the case that the work programme shown was pretty in line with what was possible to achieve with the current budget. So let's see, not too concerned about any raises here, one positive of Cobra is how sanguine raises have been in terms of dilution - good to have one of the executive directors holding 10% of shares, aligns incentives to keep dilution at bay.
How about looking on Cobra website and through past RNS’s?
I have looked but cannot find out how much of the last fund raise was used to buy the remaing 25% of Wudinna. I'm interested to find out so that I can better guess how much COBR may have left in the kitty and evaluate the likelihood of any impending fund raise. Any one have that info or at least refer me to a source. Thanks in anticipation.
RichyRich1 - hi. I may post irrespective of whether I currently hold any specific shares or not. Posting adds to my research whether or not I currently hold, have previously held or am considering the investment potential of any particular company. I've learnt quite a bit from ShipwreckSheep's replies.
Ashton - morning to you. Hmmm, now that you put it like that I can see that I have been a little rude and over eager in my condemnation of your investment strategy and in my attempt to make other less experienced investors aware of your track record - I do apologise. However, in the face of ever mounting evidence to the contrary you have made unwaveringly bullish posts about JAY for those 4 years while also posting that you own a LARGE core holding on which you've seen it's value drop by > 98% over those years . You bought at just under 9p and today's price is 0.31p.
I'll not continue this discussion on this thread but have posted here to give your post some context and to apologise for my previous exuberance. Good luck with JAY.
Can we get back to the subject of COBR, please.
Trombone - In the note RachT posted today at 08:18 and addressed to you she said: "If you dislike my posts you are free to not read and ignore them. Looking at many of your previous posts you have often referred to those posters that disagree with your narrative in an INSULTING manner."
I am a regular poster on the JAY chat board and RachT appeared on the board for the first time on 10 April 2024 and posted this: "Hi - new to this board but read a fair few of the posts and my conclusion is that - Ashton is a grade A muppet." I was taken aback by her comment on two counts: (a) Why get personal and behave in that manner especially when I have never disagreed with her on anything whatsoever (b) Being her maiden post on JAY, why did she focus on a poster instead of on the stock? She then volleys the same insult by calling me a muppet again in a post on 14 April 2024. Now she complains that you are behaving in an insulting manner towards other posters. The phrase "The pot calling the kettle black" comes to mind.
I don't like personal attacks and abusive behaviour. I have been posting on the JAY chat board since 2020. I had not come across such insulting behavior from a poster on the JAY chat board before RachT arrived. What is the matter with her? Does she realise that the LSE chat board standards do not permit abusive posts?
Finally, my apologies for coming on this board when I have nothing to contribute on the subject of COBR but thought I had to say what had to say about insulting behaviour on a chat board. It spoils discussions on a board and lowers its tone.
I think Trombones point might be you’re posting on a BB for a share you’re not even invested in?
Do you do the same with other shares you’re not invested in and in other industries, banking, mining, construction etc highlighting each shares competitors to other share holders on that BB?
Of course you’re perfectly entitled to post here just seems a bit odd and pointless when you’re not even invested.
Why do you care unless you’ve got nothing better to do with your time?
Trombone - thanks for your reply. I think you refer to rule h.
'post or otherwise publish any content unrelated to the board or the board's topic' - I'm sure admin would agree that chat regarding COBR's competitors and how they might effect COBR and its chances of success are to be welcomed. I initially questioned the accuracy of the statements in COBR's news release and the ensuing responses have led to a balanced chat concerning COBR - ideal chat content for a COBR chat board.
While we are on the topic I'll bring to your attention to point i, posters must not
'restrict or inhibit any other user from using the boards' - is that not exactly what you are attempting to do by making a threat to report me to admin unless I tow your line?
Good luck with COBR - I hope it comes out well.
I think I was quite reasonable in asking you to ensure that your posting on this board is Cobra related. I haven't threatened you in any way. LSE rules dictate that chat on these boards should be share specific.
Trombone - if you dislike my posts you are free to not read and ignore them. Looking at many of your previous posts you have often referred to those posters that disagree with your narrative in an insulting manner. You big yourself up as all knowing and attempt to rubbish anyone not agreeing with your view. I've been around too long to be intimidated by inane threats by equally inane bullies.
Rachel this board is for Cobra chat, please don't fill it up with talk about other companies or I'll ask admin to have your posts removed, thanks
RachT Not interested in Cobra-Resource competitors atb
Thanks again SS - I do appreciate the individual effort you put into researching your extensive knowledge and your generosity in posting - I'm learning all the time. I can't recall every stating that my knowledge is as extensive as both you and Ben seem to think that it is - I'll freely admit that it is comparatively limited in the REE domain. However, I still maintain that claims of 'spectacular' and 'world class' are stretching the facts. You may disagree, fine. I also think the comment of
'Whilst the Brazilian ionic rare earth projects have captured market interest, our results are comparable in grade, scale and metallurgy.......' is also somewhat misleading. It may apply to hard rock sources but as I posted recently it comes no where near the grades of the Uberaba stacks and the metallurgy of Uberaba and Phalaborwa seem (in my limited knowledge) to be potentially as easy (easier?) and possibly cheaper than COBR's. Or do you disagree?
I tend to put a lot of faith in the opinion of experts, for example the US gov.t has invested $50m in RBW and has delegates visit their site in Phalaborwa, that's a big plus in my opinion. I like to view bull and bear sides of an arguement and to learn of competitors - you seemed very dismissive of both RBW and PRE. You were unaware of the potential for the Uberaba and Phalaborwa stacks as you thought that all of RBW's reserve were in hard rock. Good luck with COBR - I'm sure it will come good for you but in the interests of balance I might just continue to post regarding COBR's competitors.
Nice to see new names posting on COBR.
:)