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FWIW......although trades are light....I know for a fact that some of these listed sells are actually buys...!
The 16 May RNS said its nearing completion. I suppose its not the end of the world if it is pushed back, other than IF it is acting as a bit of a brake on the share price, then it just potentially prolongs that stalemate.
"Cora remains on schedule to complete its definitive feasibility study (DFS) during Q3 2022."
Surely, that can't be right? It was targeted for H1 of 2022. Has the timescale slipped or has this said in error. Also, I'm sure the recent RNS said it was nearing completion.
a drop in good news is weird when you first see it ( though hardly moved at all here in comparison to others ) though the more you see it the more you expect it
still catches me out now and then though!
Horult, LW, Paul - thank you all for your responses, understood and makes perfect sense
There was an expectation on here that the share price would rise on drilling results. Some would undoubtedly have bought in that expectation. Given that the expected rise has not happened, it might explain the selling.
Also, we now move into the period where the DFS will be issued. There might well be 'manoeuvrings' caused by this, as people start to position themselves for it. At the moment, barring any last minute moves up or down, its looking to me like the DFS will be issued into a circa 7p share price, which means 10% discount from that level for the placing price.
@Stocktow - I hear you. But the way I see it is last night we closed 7@7,4p, we're currently 7.1@7.4p therefore to my simple brain we are slighty higher with the Bid being slightly more aggressive.
I also see the same thing on my platforms as you but it's just not correct unless there is no bid at 7.1p which is clearly not the case given the sells are all above that.
in the long run won't matter ...
there is a self fulfilling prophecy mantra of "buy on rumour sell on the news"
so quite often share price will drop when good news is released ( not always but often )
it's not quite as obvious on the likes of FTSE 100 - but on AIM when trades can move share price more, you do see it more often.
usually though you see some uptrend in the days/weeks before as people are buying in
not many trades at all here - nothing unexpected happened and most people holding longer term as more good things to come IMHO
the buys vs sells on LSE are basically guesses, you can't rely on its accuracy - especially on such a low volume
share price on my broker is actually showing as flat 0% change, can vary on differing brokers due to the differing price spread.
Also out of 9 trades there are 7 sells... again im really confused with the market, why are sells outstripping buys on positive RNS and a reducing SP... new to this game so for me none of it make sense.
Paul
LSE are showing a minus against yesterdays close below -1.23%, unless LSE are incorrect?
Share Price: 7.25Bid: 7.10Ask: 7.40Change: -0.09 (-1.23%)
The SP this morning remained 0% change but not long after the RNS was issued it even went past -2% and has slightly recovered since?
But still its a minus one positively fantastic drill results, hence me asking if there was someone whom might have a technical analysis as to why its going the wrong way?
Could it have something to do with the data feed that is providing the information. I regularly see a disparity between the prices on LSE, and on my broker's platform, where one might show the share price as down, and the other shows is as up. As well as maybe using a different data feed, it could also be to do with things like delayed data, and which price is being used for the measure (bid, offer, mid and last traded, etc)?
but isn't the bid 0.1p better than yesterday? thought it closed bid at 7p? Strange it's showing down, has the offer decreased?
Real funny SP movements though, twice now great RNS on drill results and both times the SP drops, surely worst case it should not drop and rather at least remain where it is!?
I keep saying i am here for the long term and not worried during the short term, I am just wondering if anyone may have a technical analysis as to why this may happen.
Important to remember too, Sanankoro coming in at 800,000 oz at a grade of 1.15g/t, and thats with a barnstorming Selin Zone.
So to return
17m@2.85g/t
11m@1.99g/t
Will do wonders for upgrading the Resource, and also production margins once Operations begin
Yes the resource from November last year stood at 809.3 thousand ounces (koz) of Au. This represented a +200% increase in total ounces from the maiden MRE.
It's expected that the new resource (which will be included in the DFS) will take us past the1 million ounces which puts Cora in the big league. Rough calculations give £1.4 billion of gold in the ground.
Couple of things to remember.
1) Most of the gold is open cast near surface
2) The Quirk family (major shareholders) have a reputation of realising value and then selling companies.
17m @2,85g...excellent.
tony - I am no expert in the field but between these results and all previous of Zone B looks like all roads lead to additional gold to the development of Sanankoro project!
Highlights
? Reverse Circulation ('RC') drilling highlights from Zone B North:
o 17m @ 2.85 g/t gold ('Au') from 81m in hole SC0616
o 11m @ 1.99 g/t Au from 31m in hole SC0608
o 11m @ 1.35 g/t Au from 53m in hole SC0612
o 31m @ 0.97 g/t Au from 15m in hole SC0615
? Including 4m @ 2.18 g/t
o 11m @ 1.29 g/t Au from 10m in hole SC0618
Bert Monro, Chief Executive Officer of Cora, commented, "The latest results from Zone B North once again show shallow oxide mineralisation of good widths and grade. 17m at 2.85 g/t Au is a very positive drill hole as we target upgrading the Zone B North deposit to Indicated Resources. We look forward to releasing the results from the final phase of the programme, which focussed on Selin and follow-up holes at the new discoveries at Fode 1 and Target 6, in the coming weeks."
Note to Adamsmith and RP: the Manchester face to face last year turned into a very pleasant pub supper for 3 investors plus BM out in the sticks….. there was that much interest. During that meeting I asked how many investor shareholders attend AGM’s; BM said only one had attended the last ‘face to face’ AGM but many more had been involved in the online AGM since….. so I suggest we should be happy to go online with the AGM and all hear what is said and then maybe ask BM to do another face to face in Manchester or wherever in mid July so we can put our observations to him…… just saying….. I have always found him most obliging!
Bert Monro, CEO of Cora, commented, "2021 was a year of strong progress for Cora, with significant Resource growth at Sanankoro and very well supported capital raises as we look beyond the DFS. With these milestone foundations in place, 2022 is expected to be just as formative as we focus on mine development, with the DFS nearing completion to determine the optimum route for production.
"Post-period end, during Q1 2022, Cora started a +7,500m drill programme at Sanankoro focused on enhancing the current MRE of 809.3 koz at 1.15 g/t Au. This drilling was completed in April 2022. On 09 May 2022, we announced the first of these results showing a number of shallow oxide intercepts, including 25m at 2.38 g/t Au, plus the identification of two new gold discoveries, Fode 1 and Target 6, both in close proximity to existing Mineral Resources. We look forward to sharing further results from the 2022 drill programme as we receive them.
Running away from being in the same room as shareholders never looks good.
Covid has ceased to be a legitimate excuse...
Good article with mixed views
https://www.miningmx.com/top-story/49492-b2gold-aims-to-double-fekola-output-even-as-mali-struggles-with-new-democratic-order/
such a great little company, not put a foot wrong, consistently delivers really excellent drilling results and yet....
An interview with Stockbox would be fantastic and very timely. If we can get some of our key questions (concerns) into BM, I think that would be even better and really beneficial to us. If it does happen, maybe we can put some questions together for MF to ask BM (if he would be amenable to that).