London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Do we know when to expect the fist set of drill results, normally has a spike pending the result?
Stocktow - Good decision. Il only be topping up sub 7p now (if she dips so low), but I’m confident in a strong move in 2022 from the current price.
Greeneyed - not sure how you see this is in an uptrend?
There is basically a downtrend channel form Sept 2021. RSI does indicate it has been oversold but it can remain oversold or the RSI can even improve if it just trades sideways or awhile. The MACD is on the cusp of a bullish cross, but it hasn't yet.
BUT technical analysis is only really useful for highly-liquid, large cap, high-trade volume stocks, so I wouldn't place a lot of emphasis on it when it comes to minnow companies like CORA.
What is more applicable here is fundamentals and market sentiment.
Just topped up, and hopefully it sits here until this time next week when pay day arrives for another bunch!
Basically It's in an uptrend and is now sitting at the bottom of the support level.
Previously when it got to this support line in April 2019 and March 2020 it then went on to bounce back up.
We are sitting on this support line again hence its acting as support. So it should bounce back up from here again.
If you are sat on the side-lines thinking to invest/trade this is a great point to buy. Or if you are an existing holder and wanted to top up this is also a good time to buy rather than waiting till the SP is higher.
Hope that makes sense
AG - Same here i have no idea what i am looking at and where this might go in the coming months accept its an upward trend is all i can make out.
Not the best at reading charts but it looks primed on good news to have a good little run, assays could well deliver that. Good to remember the pace the company reported the assays at in 2021, was like nothing I've seen in the exploration sector. Very regimented, fast, clear and concise. It obviously helped that they were very good
Courtesy of Bonker99
Ties up with my thoughts on a TA perspective
https://twitter.com/bonker_99/status/1503667353007144961?s=20&t=AKynLnlCdLFKEC6GjLH1tQ
I've not heard anything yet mate but I'm sure between APR/MAY/JUN is should become a lot clearer
"Lionhead acknowledges that Cora intends to undertake private placements to enable existing shareholders to subscribe +US$3.75m in the Equity Financing and +US$3.75m in the Convertible Financing such that Lionhead's participation in the Project Financing may be reduced by such amounts."
Thanks AG - what I am wondering is whether the DFS triggers the Term Sheet fundraise, or whether, as I suspect, the actual fund raise itself will be done later. I just assumed it would be all be done at the same time, i.e. in Q2, but of course part of the fundraise will come from investors, so it will all need arranging by Cora through brokers etc.
I know some shareholders expressed an interest in taking part in the fund raise, so don't know if anyone here has been contacted by Cora and knows what the timetable is?
The original scoping study on page 9 makes for a fascinating & appealing read
The price of Gold shown at $1500 - Now comfortably running above $1900
Recovery rates for the initial Heap Leach showing at 70% - Transfer to CIL plant could see that comfortably north of 90%
Avg Production Yearly (oz's) - 45,000 - We should see that go north now of 50,000 oz
Predicted AISC $942 - Since this scoping study, the company have identified numerous zones, shallow with high grade veins which will help keeping costs lower and increase profit in the earlier years of production
Avg yearly cashflow - $23m......The variables above should really help send this figure a lot higher
LW - Just been looking back through now, i remember reading in one of the first presentations in 2021
https://www.coragold.com/wp-content/uploads/Cora-Gold-Corporate-Presentation-Q4-2020-Final-30.10.20.pdf
Whether this was the presentation from 2020, it states about financing/term sheet on page 13
"Conditional on completion of a positive DFS by the end of
2021
• Agreement signed with Lionhead Capital, acting as lead
investor and arranger on behalf of a consortium of investors"
But this was for the $20m term sheet, but with the success of drilling and further research, the company elected for a CIL plant with higher CAPEX but much better recovery rates. The board were able negotiate the new term sheet and extend the 2021 deadline into 2022, still conditional on a number of levels.
"completion of positive DFS" can probably amount to a number of factors,
https://www.lse.co.uk/rns/CORA/term-sheet-for-sanankoro-gold-project-vdvi0shkslcyr7x.html
This from the 8th September
"? 8 years mine life and production of 40,000 ozs/year, or equivalent production over a different time period and delivering the minimum IRR threshold, in a US$1,700/oz gold price pit shell
? Updated Mineral Resources Estimate on target for Q4 2021 and completed DFS targeted for H1 2022"
Mineral Resource estimate not only completed, but exceeded expectations for me increasing it by 200% and gold price $200-$300 above the value stated which is huge. I think 40,000 oz per annum for 8 years is more than achievable having spoken to BM myself, they're targeting around 50,000 oz + and with the Resource set to grow, the mine life should comfortably fall into double figures. This alone would generate yearly revenue of £74,000,000 on todays POG but we know these variables will often change. I can't see the AISC exceeding anywhere near $1000 too which would be a massive bonus
Plenty of scope down the years to increase this towards 100,000 oz per annum.
thank-you Legalwolf- again on gcat the HUM holders don't seem that concerned.....I didn't realise that the "problem" has been going on for over 10 years.......and obviously CORA has not been much impacted negatively during that time...GLA
Bankrupty - I was listening to a Malian minster's interview, where he said they were open to looking at reducing the 5 year timeline for elections. Fingers crossed they can agree a deal, leading to lifting of sanctions and stability in the meantime. Some posts about Mali on CGAT's bb today.
AG - when do you think the Term Sheet will be triggered. I don't know if BM has already covered this and I was unable to find a date in the Term Sheet itself. If there is no published date, do you think they will trigger it soon after the DFS, or do you think it will be much later in the process?
I have been monitoring CORA for a while and waiting for it to come to this level.
Charts don't lie and along with good fundamentals CORA is a strong buy for me at this price point.
Have been adding from Monday and took another chunk yesterday.
Should see a retest of previous resistance which is the 10p mark as first stop.
Strong buy imo
There are slow periods here, but a lot of work ongoing in the background
I do believe when the term sheet is triggered and plant Construction begins, you'll see ongoing exploration and drilling of Resources. I think by the time the company are ready for smelting and get that gold poured, we'll have grown Sanankoro well north of 1Moz, with a large part of that in the indicated/measured category which can be used to mine
I'd be surprised not to see a short term move up north with the SP with near term assays and progress in the DFS, with it probably retracing a little whilst the CIL plant is being constructed. I'd like to see the Market Cap settle at a base around £40-£50m heading into 2023, with gradual increases once production begins.
........I am not a chartist...and I don't believe they work for a company of our size.....but I would point out that the SP low point occurs in March each year....shows the power of RNS results in Augusts.......
.......but each year higher lows.....and higher highs......CORA...keep it up now....!
No doubt, but with The African Council paying for the elections.....and 18month transition....if formalised...leading to lifting of sanctions etc. surely looking at the situation from a glass half full perspective.....and noting geographically where our projects are, compared to risk areas.....and no negative vibes frequently on this subject from our BOD and investors......and no concerns really on the HUM board.......I am sort of pretty ok with my investment here at these prices...sure I might top slice on the next run up.....but I'll still keep the £s invested at the same level......I am 95% sure our SP will increase dramatically...as it has shown in the past.....NAG/DYOR...etc
GLA!
BSB
Previous reply
$12,500,000 - £9,202,300 at current exchange.
At 10p would be 92,023,000 shares or 32% dilution.
At 20p would be 46,011,500 shares or 16% dilution.
When do you think major shareholders and the CEO would want to draw down the first tranche? Do you think it’ll be in one go or as required to allow the shares drawn down to be sold into market so Lionhead Capital Advisors Proprietary Limited Can recoup their investment with a profit.
Some are using terms like “placing” for their own ends. Seems like some want the sp to stay low so they can get back in before drill programme and DFS.
They wouldn’t want others piling in and pushing the sp up before they are in would they.
Do you think the draw downs will be done in one go? Do you think the sp will still be the same when the draw downs are made ?
Yeah I have no doubt about upcoming drill results. It's just a matter of country risk.
Let's see...
AG1989 - I'd be willing to offer PFG a money back guarantee regarding the results :-) I am more confident in Sanankoro delivering the goods, than 90% of the other gold projects on AIM. That run of results we had here last summer was outstanding and felt very much like the run of 10/10 outstanding results that GGP had the year before. I would expect the next 7000metres to deliver the goods as well.
Anyway, lights out for me and thanks for your views all. I will reflect/ponder.
PFG - I have no issue or qualms about riding it out with Cora. But purely from an investment perspective, I just don't want the politics, the tensions and the sanctions to get in the way, because those risks are potentially terminal.
AG1989 - yes, you definitely have to be careful who and what you read these days, especially when it comes to geopolitics. Each country has its own media agenda/biases, and what we read and listen to here in the UK, is not the 'news' in other countries. Which is what probably makes the internet the best place to get an accurate picture these days, as you can read various 'news' stories on the same issues, but from different outlets with different perspectives. You probably get a more balanced or wide ranging view.
I agree AG I've always been so impressed with the drill results here, but look where the sp is. Perhaps most of the risk is already priced it.
The signing of the Term sheet is just that last tick in the box perhaps and I would expect the DFS to highlight whatever in country risks exist.
I'd be willing to wait until then.