Repost Carib22 Jan 2021 08:12
I doff my cap to carib and repost the Pathfinder summary.... as a chemist I had not fully onboarded the strategy here and then looked at the sept 2020 presentation where they explain with a nice picture..... trace amount of 'pathfinder' elements associated with Gold mineralisation are used to prioritise drill targets. Very clever.
The elements differ at depth...
'So a brief introduction to Cobr, if this is your first visit, or a reminder for those committed snake junkies. The primary target for the board is to prove up the first million ozs.Cobr listed onto the Main Market in a RTO and took on the Wudinna project from the Lady Alice Trust.There is an earn in opportunity with a JV partner, andromeda metals to earn up to 75% of the project. We have completed stage 1 and are now 50% of the project owners AND the operators.There is already a JORC compliant resource of 211,000 ozs, and we are on the hunt for the next 800,000 ozs. There was a cracking set of results from Clarke where the grades were high grade, and continuous at depth. More drilling to followThere was a series of what one might call dud holes which results were delivered on Christmas Eve. But actually in hindsight, these helped incredibly to prove up the PATHFINDER approach. This is cutting edge soil chemistry and geo-physics designed to de-risk the scatter gun approach of punching holes in the ground. The pathfinder approach is new and is a bit of clever modelling, but this carries perceived risks as it’s so cutting edge. Nevertheless, this has been shown to have helped de-risk this project and help identify exactly where the gold is in the basement.We now have not just got the gold , but silver and copper are showing too. This has significantly de-risked the pathfinder model and the whole Wudinna project and consequently Cobr. This is because we still have cash in the bank, drill metres in credit and a heap of targets to aim at.Anyone already invested now can relax. Anyone not invested, can now consider Cobr as a business that quietly gets on and delivers what it set out to do. It’s bottom drawer for me now. I hold 2.5 million shares and declare my interest. I had to trim 100k last week to pay a lawyer.So, in summary, it’s funded, has 22 targets across an area 33% larger than the Greater London area, and a further 4 IOCG targets.Also, this is the nicest board on LSE. Full of helpful, friendly and enthusiastic long term holders who all get on nicely and always welcome opinions and newbie questionsGood luck all holdersCaribs'
https://cobraplc.com/company-update-presentation-september-2020/
Worth a read. Then you can also dream about an IOCG hit and what that would mean.....BH
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