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This is why, I've been saying that its important to get the Term Sheet executed asap. However, i'm guessing the timing will all depend on what suits Lionhead, in terms of when they want to inject £20 million into Cora, given the situation in Mali at the moment. Maybe the delay in the DFS has been helpful, as it gives all parties more time to assess the situation.
Of course, isn't it the case that the lower the share price is when the DFS is issued, the more shares that Lionhead will get for their £20 million when the Term Sheet is executed? If so, they might not be all that concerned by this downward drift.
Billy
So what was the AGM all about?
Hi,
Just attended the AGM.
No questions had been submitted by shareholders which I find quite surprising !!!
BB2
Thanks LW, agreed, yep aware on the 10% discount piece just didnt think it would continue to spiral on the down turn. At this rate of knots and if the Term Sheet isnt dealt with until latter Q3 - early Q4 we could be heading back to near the 5p zone.
Only good if you have the funds to take the option on reduced price buy i guess to some extent.
The Term Sheet, if it goes ahead, will enable people to buy at a 10% discount to the share price, which on the current share price will mean 6p. So there is little incentive really for anyone to buy outside the Term Sheet. Therefore, there's nothing to lift the share price and I'm not surprised its on a downward drift.
I suspect it will continue this way until the DFS/Term Sheet. These are tough market conditions, and its also right to note that most of the junior explorers are down at the moment. But they will all bounce back, inc Cora.
Low an SP since around May 2020, really hope the DFS is pulled out of the hat in the next 4-8 weeks so the Term Sheet can finally be executed!
The situation in Mali is such that I don't think anyone can be so confident that the Term Sheet investment will go ahead as planned. I can't see Lionhead ignoring the in country risks, especially of sanctions, and they will want to be sure that the mine development can go ahead as planned, before parting with £20 million.
exactly ...that's when price discovery "will" happen...and NT to buy...then .... IMO....Lionhead will definately go ahead.....there is a zero% chance of not! "They"/ PQ more or less own us...we're only riding on the back 'o that!
I've loaded up half again now and try to get the other half then...or near!
GLA
I don't think anything will happen here until the Term Sheet is executed, following the DFS. With all the troubles in Mali and geopolitically, if Lionhead do still go ahead with their proposed Term Sheet investment here, that will be a huge confidence booster for Cora, and for the market.
Thanks Bank, though even when we did get great RNS output on the drill results it still did minimal if nothing with the SP.
Funny old game this, i get we just sit back and hang tight for the DNS to hopefully occur during Q3 and see what happens after that.
when extremely low volume... the sp is just kaput.....when we get a pos RNS....proper price discovery will occur!
Why just like that we have lost 3.5% value today... is it purely on the size of the trades made?
Follow the big money peeps.
£3.93
TR1 incoming lol .....
I assume it's a buy after they unexpectedly found a couple of quid in the washing machine
was that a buy or a sell? lol.
If Cora was sold out id be intrigued to see if any of the current board members would let go of thier shares or hang on in.
and what would be the point of a takeover now? Perhaps when the shallows are producing and the cash generated has proved up significant deeps...that's when Cora will be sold...as the expense of the underground mine will need a major.."they " will not want the hassle of a jv.
Talk of take over. Sounds like Pump n dump inbound
RP and All
Thanks for responses, nobody here has a crystal ball but if a takeover were to happen in not sure if it would be a positive or negative impact to the SP, which in mine and im sure most peoples opinion is already way to low.
Another stonking set of results. As usual.
Perversely, as the war in Ukraine has dragged on much longer than Putin expected and is now likely to last years barring some miracle in Diplomacy, Putin has been forced to recall various Wagner cohorts from places like Libya to inflict damage within Ukraine. It is also likely that he has recalled some operatives also from Mali - which is a kind of positive here.
If a takeover is on the cards then they're doing all the right things to add value to the company and its assets.
I would imagine the situation in Mali will have an impact on how they approach what to do with Cora. It's probably convenient that the DFS has moved into Q3, as it gives all relevant parties an opportunity to continue to appraise the in country situation. The current talk is of heavier sanctions, which if imposed, might well make it very difficult to get a mine development off the ground?
RP - What did you mean by your second point?
I haven't seen the twitter feed from Burt
Great results, now lets hope things start to move forwards finally after the DFS in Q3.
Brilliant results again and Sanankoro DFS which will be completed in Q3 2022 with increased resource included.
? Final reverse circulation ('RC') drilling returns some of the best oxide intercepts from the 2022 drill programme, with highlights including:
o 12m @ 7.61 g/t gold ('Au') from 18m in hole SC0639 at Selin South
o 13m @ 4.97 g/t Au from 61m in hole SC0650 at Zone B North
o 14m @ 2.00 g/t Au from 64m in hole SC0640 at Selin South
o 11m @ 2.42 g/t Au from 120m in hole SC0648 at Selin South
o 12m @ 2.08 g/t Au from 49m in hole SC0636 at Selin South
o 13m @ 1.90 g/t Au from 18m in hole SC0637 at Selin South
o 4m @ 6.34 g/t Au from 26m in hole SC0658 at Target 6
The updated MRE will be incorporated into the Mining Study for the DFS, which as a result of the work required to produce a new MRE and subsequent mine schedule will now be finalised in Q3 2022