Member Info for Darola

"Cora Gold Limited - Impressive Initial Results #CORA https://www.**********.co.uk/rns/announcement/b8913595-9035-409a-80ab-74ae1d877f0e via @********** @cora_gold"

Looking forward to a blue week next week. "I look forward to reporting the initial assay results which are targeted by the end of January 2018."

Might get a few waiting to sell on the upcoming news. Otherwise anybody looking at the long term potential will be holding tight. I'm happy to wait 18mths+ to see where this goes.

Inevitable. Some good volume over the last week or so. It's gone from dormant to "on the radar". Just wish I'd backed the truck up at 12p, when I kept trying to justify selling some HUM to get the funds - felt a bit like I was cheating on the MRS with her younger sister!!!

They just offered me 16.5 for 100k, so surprised we've not tucked up.

Look at DEMG. Hardly any posts, very low trading. Delivers a great RNS today and it's up 112%. With shed loads of trades today.

That's good! Means the herd hasn't joined, the MMs won't play silly games and we are ahead of the curve. In my experience the busy boards don't deliver to the hype. The big rises come when good news takes people by surprise.

I think they'll need to evidence an actual mine - grades and reserves confirmed - and secure the funding to get it out of the ground and process it. Then I agree a £1 is possible. That would still only give it an mc of £55m. One the ground is broken and the plant construction underway, then it could 2x, 3x easily from there. Equally if (I should say when) they can prove-up the resources close to Yanfolila and sign a processing agreement that will be another catalyst to multi-bag from here. It's not a question of if they have gold - that's a given - it's really how soon they can prove it, how much there is, and how soon they can confirm the route to get it out the ground. The patient will be very well rewarded here. And so agree that direct exposure has more opportunity for personal wealth increase than the nominal difference it will make to HUMs SP. e.g. If this hits £30m, it might add 3/4p to HUM, or 10%. Directly holding CORA will get you a 350% rise.

*too

On low volume two. The point that we only have circa 15% free float is pretty significant. This will move very quickly on any good news, and the news due at the end of the month should be just that.

Indeed. All part of the fun and why we don't stick our money in the building society...

Just to add, CORA at £100m would be around 30% cheaper than HUM. So I allowed £30m for HUMs other assets (assuming Yanfolila and Sanakoro are like for like), which most people seem to think are not valued in.

I was talking in abstract. Forgetting others stakes, I concluded that with HUM valued at £130m, for a 7 yr 107k average mine - with concensus being that Liberia is not priced in, as most people attribute HUM as cheap based solely on its current forecasts, forgetting its other probable resources. In terms of HUMs value also including CORA, that amounts to >£3m at current price, so negligible. Also HUM has been valued around this level since July, 6 months short of being s producer. So if CORA confirmed a similar sized find - grade and life - and funded the path to production, then it shuld reach a value of circa £100m once development of said mine has kicked off. However I also said that HUM will probably mount a takeover of the remaining % before then.

Thinking more in terms of Berts role in Cora, and them making a decision rather than HUM

Also ask him when they will know how much they've got. I.e when will they have enough data to make a decision.

All adds up to higher value however you look at it. That's the beauty here it's not a case of find gold and then what.. that's bits sorted. So the risk is - is there enough gold to justify mining it! And I'm pretty sure the answer to that is yes. So I'd be interested in what folk think the risk is here. This feels like HUM take 2, but before anybody was talking about HUM.

Spreads a bit wide at the moment, which might be to detur buyers, perhaps filling an order??

*routes to production

CORA is basically HUM 5 years ago. They don't have a plant, because they don't yet have a proven gold field, just a speculated one. In terms of phases of research they are doing the proving, the is there isn't there analysis has been done, now it's the how much and what grade, assuming this is positive then they move to "how do we get it from the ground to gold bars" bit. This is where they have options, use Yanfolila or build a new plant. This will depend on the volumes and grades they find. If the find is confirmed as as big or bigger than Yanfolila then IMHO they will take the route to build a plant - question is when do HUM step in to mount a takeover... in any case all looks very promising. Unlike AAG, CORA have routed to production. Hence on probability of success this is a great time to buy in here.

This pulls back to .16 Im in for some more. Once positive grades and volume are confirmed - very highly probable - this is a £30m company. Once the route to get the gold out the ground is confirmed and funded it's a £100m company. Although HUM will probably mount a takeover of the remaining % before then. Always some risk but probably less than a lot of AIM shares.