I think from when I spoken recently with cora that they are very impressed with drilling results and the extension of sanankoro at depth. Reckon they will go straight to 100,000 ounce producer. Gold fields spent over $10M drilling on sanankoro and cora have put in at least another $6M with a further £2M raise today. And still a market cap of just £7.8M crazy.
The longer we are here the better. As they develop the asset/mine we will become higher valued. Management have chosen not to drill every target and chase every ounce in the land we hold. Instead concentrate on the best asset (sanankoro) and develop that straight into production. Part of the profits then can go into further exploration which then stops dilution/cash raise which the big holders here wouldn't want all the time. And the 1-2 million ounce exploration target is just on sanankoro to a depth of 100m, now we know it's deeper, it opens that up to 2+ million ounces. And we still have all the other drill targets on top of that.
Hard to say. Hummingbird have the best chance of taking over cora as they hold 18%. However cora are fast tracking to production and I don't think they will have any problem with future financing due to the large holders here and the great assets they hold. I have spoken with the management and they are deciding which route to go down with the mine. 50,000 ounces a year or straight to 100,000 ounces. The quicker we can hit the big numbers the larger market will reward us, and the mid tier companies like to take over 100k+ producers