Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think hum will take out cora at some stage. The numbers are too good to ignore, low capex and fast payback. Over 100% IRR with current gold price. And Sanankora resource will increase over next year or so.
Moving forward with ESIA
https://www.lse.co.uk/rns/CORA/digby-wells-to-conduct-esia-for-sanankoro-6q8te97hwb9cbbr.html
Moving forward with the project. Good to see. Large delayed buy from Friday morning too which pushed it up.
As well as the current test programme:
"The recently completed Scoping Study at Sanankoro showed the potential for a standalone mine with an 84% IRR and less than 18 month payback period at a US$1,400 gold price. Whilst this is clearly a highly compelling standalone project, Cora's board is simultaneously assessing additional opportunities through which to potentially fast track development, including identifying synergies with operating mines in the vicinity. We are pleased to be working with our largest shareholder, Hummingbird, to investigate the opportunity to potentially deliver a high-grade concentrate which could, in principle, create a fast track route to low capex and positive cash flow for the Company.
It's higher than B2golds Fekola mine and that makes plenty of money. Grades don't tell the whole story, cash costs do. Look at the returns on the scoping study. 84% IRR at $1500. We are at over $1700 now. And cora are discovering higher grades deeper which only adds to the upside.
https://mobile.twitter.com/cora_gold/status/1255439998377242624
https://mobile.twitter.com/cora_gold/status/1255439998377242624
Well done
They didn't sell any. Shows you do not understand what the rns says
Coras latest presentation released yesterday:
https://www.coragold.com/wp-content/uploads/2020/04/Cora-Gold-Corporate-Presentation-Q2-2020-Final.pdf
Maybe seen that his job will no longer be needed? Taken up other opportunity whilst available.
Unlikely due to amount.
Just a rollover of position by the looks of it. Hence close price on both trades
A mention on cora in hummingbirds rns this morning:
On 18 March 2020, Cora Gold Limited ("Cora") conditionally raised £2.89 million through a subscription of 60,838,603 new ordinary shares at a price of 4.75 pence per share (the "Fundraising"). Although Hummingbird did not participate in the Fundraising, the Company continues to work closely with Cora in its metallurgical test work programme which is exploring the amenability of oxide ore at Cora's Sanankoro Gold Project to be concentrated for commercial trucking to Hummingbird's Yanfolila Gold Mine.
On successful completion of the Fundraising, which is subject to Cora shareholder approval, Hummingbird will remain a substantial shareholder with a 12.25% interest in Cora's ordinary shares.
Not to mention the test work from bulk sample results as well as more work to follow on sanankoro.
Cora really going for it. Great to see. They have some fantastic grades and Sanankora could be huge if they prove up further results below 100m.
At current gold prices i meant.
Cora will make great investment with such low upfront capex and over 100% internal rate of return, and over £20M free cash flow per year at current hold prices
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CORA/14482047.html
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CORA/14482047.html