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Is what it is. My only real concern is that the delay is in relation to Lionhead pushing back maybe.
In Q2 we were told DFS was basically ready just needed figures from updated MRE as would make DFS better, which made sense, so delay made sense.
I feel Bert is a straight up guy, so would just like to know a bit more detail on what is being improved that is causing the delay.
The SP has been stuck because of the termsheet so really need this DFS to drop.
Hi,
Anyone done any calls as regards the term sheet dilution should the DFS land this week. I am assuming the term sheet is a “done deal” once DFS lands?
Thought?
BB2.
The ongoing Definitive Feasibility Study ('DFS') for Sanankoro is expected to be completed in Q3 2022
"All work is now focused on completing the Sanankoro DFS and we look forward to updating the market on this in due course."
I believe the DFS should be announced this coming week. The very end of Q3. I don't expect a delay on this as its been a long time coming.
Hopefully this will bring a much needed boost to the project and Lionhead will bring their funds to the party.
Would love to be able to buy in now and reduce my average but sadly lacking funds at this moment in time.
Good luck to all long term holders
Hopefully.
The fact I learnt of Orosur from another board is the reason I do it….. it ended up 45% up on the day…. Not ramping just promoting….. Weren’t no pump n dump I’m long there…… about to get more interesting… Phase 2 is sealed…. Think GGP at 2p….. All the best to everyone….
Today you've pumped OMI on the ORM, ORR, ALBA, ARV, CORA, WSBN and GGP bulletin boards. I don't pay attention to that kind of ramping.
OMI deliver the goods on untouched ground North of Anza….. 150m @ 3G/t from surface…. Get on board while you can…..
The news is good, one day this share will fly high.
All good news. Calculated at £1,200 per ounce that gives a huge £800 million in the ground for a company with a MkCap of £12 million. DFS in Q3 2022 will be company changing.
"Indicated Mineral Resource of 16.1 Mt @ 1.27 g/t Au for 657 koz"
economic??...... I would have thought so...... you could scoop the shallow oxide gold up with a bobcat(lol)......with the deep (unexplored) sulphides for later....just my guess from memory..! but of course it was AOK at scoping study stage which used$1,500 POG ....is now up...from then and an IRR of 107 and resource size increased to 920koz.! I suspect the new AISC to be around $1k....depends on the size of mine! Further exploration potential to double resource or more!
Will the funding be forthcoming ? Is the project economical at current pog?
I posted the following on another share chat board but felt it could be relevant here too, as I hold CORA especially with our increasing resource and production potential....."Yes indeed, Gold(and related Gold shares?) will re-rate with the "coiled spring effect in time.....when confidence in currencies fails and people rush (even 2% of the population rushing to acquire 5 ounces AU would lite it up for sure) to hold something real (other than collapsing house prices and unaffordable variable 20% interest rate mortgages)..Perhaps 85% of US population are on fixed rates...but in the UK we're variable rate and any short term fixes will be variable 20% interest soon.....How many on £3k per month or less take home will be able to afford their £100k mortgage at £2,500 a month? and their £500 p/m electric.
Something's going to give and in the rush for something real in one's hand as their fire insurance....then that's when the price of gold/currency will become those extreme figures, which still look far fetched?? not so much now eh?
The amount of ounces you have will be all important....as history shows from buried hoarded treasure....history repeating/rhyming again?
Do not be concerned about daily/monthly fluctuations on the paper gold price that is set for the miniscule physical PM market (in comparison)....Some say Russia and China have nigh on 60,000 tonnes or about 12 times or more than what they officially disclose....there is a reason for that....and also a reason for increasing premiums we must pay on any PM physical purchases. You should at least certificate some of your xxxx holdings..... I have ! gLA. "
Not a question of messaging at all IMO. The DFS should land within the next 4 weeks. It will set the price for the Term Sheet raise. The share price is simply moving towards what will be the eventual Term Sheet price. Nothing anyone can do about that, as its simple market forces/maths playing out here. Once the DFS is out, then Cora will need to come out and say what the plans are for the Term Sheet. We are about to find out if Lionhead will go ahead with their funding of the Sanankoro mine. The DFS has been delayed by a full 3 months, and any further delay, or a delay re the Term Sheet, would concern me about the funding tbh. So critical period coming up here either way. As always, all imo and DYOR.
Needs to be north of $1800 pog. CORA need to get more positive in their messaging.
I've always maintained that the Term Sheet is the optimum time to enter Cora from a risk perspective. No matter how good the management are, they need Lionhead to actually put up the cash. Because of the jurisdictional issues, I am not taking the funding for granted, although I don't anticipate there being any problems, but you just don't know with the Russia/Mali dimension. So, I'd even rather buy at higher levels through the Term Sheet, than at lower levels in advance of the Term Sheet.
Also, I'm not willing to risk buying now, only for the share price to then be pulled back to the Term Sheet price, or crash if the Term Sheet is delayed or doesn't proceed. The DFS is now weeks away, so will set the Term Sheet price for us all, and give a baseline for investor decision making.
I agree that the Term Sheet will be the catalyst. A £multi million investment from Lionhead, who undoubtedly will be have much better handle on jurisdictional risk than us retail investors, will give renewed confidence. I'd be happy to piggy back off their risk analysis, and if they stump up the cash, that'll be good enough risk analysis for me. All imo
Having narrow vision can often mislead a lot of investors be that both positively and negatively.
When you zoom out and look at the wider markets suddenly your isolated drop doesn't look so isolated but actually just your company following the general market trend, same goes for upside moves a lot too.
In Coras case, the value today also includes some of the risk still on the table but as each risk removed, step by step, then for me I can see the large upside available if all goes to plan.
The question then becomes do I feel Coras management has the ability to deliver the project and overcome each hurdle on route? And for me its a big YES.
When it comes to juniors management is so key to success but so far the CEO has proved he has what it takes by successfully delivering some outstanding drill campaigns and getting work done in other areas.
Is the term sheet holding it back? Yes very likely, but once signed that term sheet is also a major cataylst for growth.
cheers uktrader6...lol but I have done 5 of 25 posts9 (now6/26) on this page.....20%+......can,t hog the board...lol
but since I'm here now....my post on advn.....Mali, Term Sheet worries etc. and in current market many companies have dropped similarily.......and when this sharechat board reflects despair and frustration to the present extent....it motivated me to "Do Me Own Research" again......which led to my last post!
bankrupty
If today is anything to go by you should post more often lol
Situation in Mali might have something to do with it... A military government not willing to return power to an elected government any time soon with ever closer ties to Russia and 1000s of PMC mercenaries in the country...
Fair value should be £65m and SP ....25p which is 500% from where we are today
Where else can we see a £50k o.z. p.a. production with a AISC of £700/o.z. operation and at least a £20m p.a. EBITA with a LOM of 8yrs. ++.........with a market cap at £13m????
It's got to be a buy at theses prices? Of course we could argue my figures.....but you could argue them both ways and still be coming close! DYOR.....judging from today's action....some have?
GLA
This bloody term sheet has been a disaster. I just don’t accept that it was necessary, and the likely consequences were clear - though worse than I imagined. Existing shareholders diluted way too much, and the chance to participate in the forthcoming capital raise (but to what extent?) will scarcely mitigate.
LW - Looking like your prediction of 3.5 p- 4p is very realistic at the rate this share is descending very shortly. Surely something must happen soon, at this rate there wont be much of a share price left.
Hopefully the DFS will be brought forwards the low will be out and this will finally start to lift to where its deserved.
I haven't popped in here for a while... CORA absolutely hammered (temporarily)!
The term sheet is definitely having a lag on the SP, and agree that it won't be picking up until triggered.
At the current price and Market Cap, there are about 300M outstanding shares.
To satisfy a $12.5mm equity raise, at the current FX rate + 10% discount, there needs to be another 280M shares issued.
That is about a 49% dilution.
Add in that the price of gold has fallen, equity markets have sold off and the political situation in Mali has been shaky.
No wonder the SP has fallen 75% since Sep last year.
But of course, amongst the not-so-good news (largely out of CORAs control), there has been some good news.
Positive MRE , steady news flow, successful drill campaign, more time given to complete DFS etc..
I hope by end of Q3 we will have the catalyst needed for the SP to pick back up.
Good luck all.