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I'm not disagreeing Legalwolf... I can see what you preach from my "trader" eyes...but as an investor for longer term...I think that half of me is comfortable with the current market cap/SP...so I'll stay holding and top up when price action permits and incentifies me! GLA
Sorry last sentence was meant to read, it would be good for BM to come out and confirm when the Term Sheet fundraise will be executed after the DFS is issued.
Stocktow - you are absolutely right in what you say. The logical thing to do would be to issue drilling results, boost the share price and then issue the DFS. That would mean that the fundraise would also be at a higher price, because the DFS would also be issued at higher prices. However, this might not be what the Term Sheet providers would want? Would they not want to get more shares at lower prices in return for their backing?
So it all depends on whose interests are going to come first here in terms of how Cora approaches all this. One thing that does need to happen before the share price can go on a SUSTAINED run is to get the Term Sheet done as quickly as possible after the DFS is done. You don't want a large fundraise hanging over the share price for months, because it could stifle the share price growth in the interim.
It would be good for BM to come
AG, Wolf
I can't see why Cora would wait until the DFS is completed before issuing the first trunch of SI results from the 7500 drill campaign.
I am no professional and do not know what will or will not happen in these instances. However only from a common sense perspective it would be in the companies interest to drive more SP growth before the DFS and gather more momentum and drive up value?
Just my opinion
OAPK20 - yes the DFS should land by end of June latest. At the moment, I'm waiting until things become a lot clearer. Too many unknowns (and hence risks) in the meantime. For example, we don't know when exactly Cora will actually execute the Term Sheet fundraise? Or whether the share price might take a fall (e.g in May) just before DFS is issued (in June).
Stocktow - the problem is that the share price can't shift on drilling results unless they are released 30 days before the DFS. If they are released after the DFS, then the share price will fall back to the DFS price once the Term Sheet is executed. All imo but others might see it differently.
Plenty of time for the SP to shift on RNS Drill results then!
DFS by 30th June Wolfy is it not ? You adding or waiting ?
Might not be able to take part in the placing but PI’s can take advantage of the placing price when RNS confirms the price.
I guess that’s my whole point around “locking in” the shareholders who can take part in the placing once it’s implemented.
Make it so only those who are holders can take part, maybe if it’s pro-rata based on holdings the day before the DFS is announced.
That’s if any of us ‘retail’ investors will be able to take part, of course…
I can't see how the share price can go on any kind of run in advance of the Term Sheet fundraise? The Term Sheet is quite clear and I have reproduced the main clause below. This clause makes clear that the fund raise will be carried out at a 10% discount to the average share price in the 30 days prior to the DFS. IMO, this puts a stranglehold on the share price until AFTER the fundraise is done. To illustrate this with some examples:
1) Let's suppose the share price remains around these levels (i.e. 7.5p) and the DFS is issued in May 2022. That will mean that the Fundraise will be at 10% discount to 7.5p = 6.8p.
2) Let's suppose the share price rises to an average of 10p, before the DFS is issued. Then the fundraise will be at 9p.
3) Now suppose the share price remains around 7.5p and the DFS is issued in May 2022. Then afterwards the share price rises to 15p or even 20p. The fundraise will STILL be at 6.8p, because it will be calculated from the date of the DFS.
We don't know when the DFS is going to be issued exactly, other than that it will be in Q2. But it is hard to see how/why the share price is going to rise before it? All IMO and DYOR
"The Term Sheet envisages:
? Equity Financing: US$12.5m subscription for new ordinary shares of no par value each in Cora at the lower of (i) an 10% discount to the 30-day volume weighted average price ('VWAP') at the date that Cora announces achievement of the Project Milestone and (ii) the lowest price at which Cora has issued new ordinary shares in the 60 days prior to the date that Cora announces achievement of the Project Milestone (the 'Equity Financing')"
http://bamada.net/cheick-fanta-mady-keita-directeur-national-de-la-geologie-et-des-mines-lor-represente-70-des-recettes-du-mali-actuellement
there's an english version
basically the Mali govt stating gold is good for the government and the people and they need to encourage mining. 70% of Mali's revenue is from the gold industry
Bert is approachable. Very mild mannered and has contacted me a couple of times on Twitter for a general chat. A CEO i feel very comfortable in running the company
he seems confident the DFS will boost SP prior to any fundraise
https://www.youtube.com/watch?v=412wDPoOXOE
about 25 mins onwards he touches on this
In a recent interview, Bert was saying he would hope any future placing would be about the 10p mark (mind you, this was the SP at the time of the interview...).
There may be some PR / drill results etc released prior to any placing to try to boost the SP..
I would say it’s more likely that the DFS is the catalyst for the Term Sheet though? The December raise was designed to see us through to DFS.
Stoctow- not sure what you mean by potential placing. There will definitely be a placing to begin the mine construction.
More sells than buys today, wondering if this is all reflective of this conversation on DFS and any potential placing.
Not very educated on these matters and wondering is it worth to sell and wait until DFS and any potential raise or placing?
It depends if CORA raise sets the equity finance base
(ii) the lowest price at which Cora has issued new ordinary shares in the 60 days prior to the date that Cora announces achievement of the Project Milestone (the 'Equity Financing')
How feasible is it for Cora to restrict “existing” shareholder participation in the placing to only those who are already shareholders prior to the announcement of the DFS?
Or is that a given?
Just trying to gauge what the reaction will be as we head towards DFS. If people can buy in once the price is known, and take advantage of the placing without any risk, that will surely put downward pressure on the SP before then. If you have to already be a shareholder (and your involvement is based on how many you hold), that will give the sp a bit of a boost, you would think?
“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.”
anyone on here had dealings with Bert / emails etc? is he approachable for a chat ?
Fingers crossed for some drill results in the comming week or so!
A couple more “49m@15g/t” the will probably do the trick ;)
it really wants to go - just needs volume to support it
https://kingworldnews.com/10000-gold-370-silver-plus-some-really-shocking-numbers/
Looking good so far and more interest, seemed like almost 2m shares sold yesterday, maybe more!