RE: Runny bum....20 Oct 2020 08:35
Morning alwaysone et al,
Wraith, I forgot about mentioning your million plus yesterday, apologies. Hope you’re well?
Share price by Christmas, 10p? I’m not sure it really matters. Looking at other junior miners, take HUM, for example, where it is producing.....it produces 100,000 ozs and change pa, but is situated in a west African state. It’s mcap is £141m. Sure it has other projects in the background, but so does Cobr. Nonetheless, hum was valued at £80m mcap as a mud field when POG was around $1350 per oz.
Cobr will have similar amount of shares in issue over next few years, and assuming drill campaign throws up a cubic metre of gold across baggy green, Larwood, laker etc, we can assume a re-rate to at least 10p-20p without even breaking a sweat. Naturally we will only be a 75% owner of the mud field and there will be considerable socio-political issues to overcome including the Aboriginal considerations. Regardless, SA are keen to see mining deliver economic results in the region.
But as wraith infers, many folk here are looking for some serious gains from the IOCG targets, which will make, if one proves up, any SP prediction meaningless and minuscule. It’s a proper game of patience and nerve. Hopefully, I’ll be proved right in my conviction and everyone here enjoys rewards.
Sticky holders don’t help the SP move as the volume of shares traded is quite small, and it seems to be the same ones sold!
Warrants are possibly providing a little liquidity, so we will see how things pan out.
GLA