RE: The current situation?28 Jul 2022 20:38
I haven't popped in here for a while... CORA absolutely hammered (temporarily)!
The term sheet is definitely having a lag on the SP, and agree that it won't be picking up until triggered.
At the current price and Market Cap, there are about 300M outstanding shares.
To satisfy a $12.5mm equity raise, at the current FX rate + 10% discount, there needs to be another 280M shares issued.
That is about a 49% dilution.
Add in that the price of gold has fallen, equity markets have sold off and the political situation in Mali has been shaky.
No wonder the SP has fallen 75% since Sep last year.
But of course, amongst the not-so-good news (largely out of CORAs control), there has been some good news.
Positive MRE , steady news flow, successful drill campaign, more time given to complete DFS etc..
I hope by end of Q3 we will have the catalyst needed for the SP to pick back up.
Good luck all.