Member Info for Iaintittle

Q1 sales at $1568. 24,575 oz sold. AISC $875. business plan was AISC $850, sell price $1250 therefore bonus of 24,575 oz @ $293 poz = $7.2 million. Plus inventory of 11,000 oz @ bonus of $393 (april average gold price say $1668) is $4.3 million. Q2 speculate 30,000 oz at a conservative bonus of $393 is $11.8 million. so, against business plan H1 likely to deliver $23.3 more cash than budgeted....... a 5% divi (@£0.28) costs £5m ($6m) a 5% buy back @ £0.28 likewise costs ~£5m ($6m) ....... $12m out of $23.3 million bonus cash is hardly a rash use of company funds; it would mop up the sellers shares and might provide an incentive for II's to buy or hold...... and if you wanted to put some cream on top tell the market that you have allocated an initial £5m into next years dividend pot.

Why wait? We know that Cora issue RNSs’ frequently.... last two placements at 3.8 and 7.0, both heavily taken up by existing major SH’s ..... currently at a discount to last placement, snap them up, if you believe in the project they are a snip. !!!!!!

When Dr Herbert Diess gave his speech to the execs of VW earlier this month he made a couple of observations. Firstly he lamented the pace of change within VW, commenting that it needed to shed the mentality of a motor company. Secondly, he commented that Tesla was being valued by the market as a technology company, and that was how he wanted VW to be seen in the future......... none of the electric revolution will take place without more lithium being mined, lets hope that one day we get at least some of a 'tech' valuation.

the call;
https://www.coragold.com/wp-content/uploads/2020/01/Cora-Shareholder-Call-22.01.20.mp3

So, under Sprotts law, we are worth $400m X 1.3 = $520m (or $560m @140kOZ)
With optimism we could produce 140,000 Oz in 2020 @ $700 = $98m less any costs not in the aisc. With a LOM of 6 or 7 years how can we possibly be worth half a billion? Bert has talked in the past about there being 1m OZ outside the mine plan. Now if that was bought into the plan and LOM and added an extra 7 years maybe the value of this would start to rise. What concerns me is that it might not be in Dans interest to do that as it would attract a mid tier who might buy us out and Dan does not have a lot of skin in the game, maybe he would rather pick up his large salary (for a 3 day week) a few more million 1p shares and hold onto this for 4 or 5 more years?

...... and the LOM is based on the number of ounces we declared in our maiden resource which I think had a grade cut off of 1.3g/t..... heap leach cost effective down to circa 0.5g/t .....wonder how many oz’s in the resource off that was the cut off?

I would not describe them as an early explorer. I think they have reached the stage of knowing that there is a hell of a lot more gold on their permits but understanding that it is costly and dilutive to prove. They have a 6 month drill prog funded. Do they wait for results and raise again or do they build a small plant to produce some gold to sell to fund further exploration? If they build do they opt for quick cheap medium recovery or bigger bolder longer term? Do they build a concentrator and get HUM to process? They have plenty of African gold experience in house and on hand to help make these decisions in Lord Farmer and the Quirk Family, neither of whom want to be overly diluted.

Hazbeen..... not sure where you have been getting your info from, I suggest you look closer at the major shareholders and find out what their motivations are....... all good here in my opinion.

I understand that some of the less expensive parts of the DFS were progressed but the really expensive test engineering remains to be done as soon as we have the funding for it m.... when you are spending circa $500m on a mine and a plant you make sure you do the feasibility work properly.

There were two pi’s present.
Things to note;
Babis did a good job of stirring things up with the Czech population but there is good support for this deal.
CEZ are asking the sort of very fine detail questions now that lead the company to believe that the DD is nearing completion. CEZ have been very thorough.
There is a strong desire from the EU to see European projects succeed. The company believes that there will be grants and soft loans available that will form part of a balanced, acceptable funding package for the mine.
There is significant interest from off takers.
The large corporates are getting their heads around the fact that they will need to bring funding to the table in order to secure supply.
There is significant interest from outside the EU.
I don’t see this being fast tracked to production, CEZ sound professional and thorough but risk averse. 18 months for DFS/BFS production 2 years later.

The company’s lawyers, who were present, reassured those in attendance that there were adequate protections within the reserved items that form part of the agreement.

Not sure of your question/s there Degsie. I get why it may take 6 months to do the DD. I get why CEZ would not want to confirm their willingness to progress until the vote has happened at the AGM of EMH.....??
I question your comment about voting for an ‘agreed deal’ ...... that is what the AGM is doing isn’t it?????

please read the reserved matters section of the AGM notice Sid...... KC needs to protect his own holding as well as every other shareholder....... this is becoming big , international, corporate and sovereign..... the consequences of CEZ shafting us (if they do) will reverberate across Czech international business policy; along side the 'reserved matters' that should be our safe guard.

Degsie ....... Until the AGM and the shareholder vote there is no way CEZ will say they have 'completed' their DD ..... if the vote goes their way (which i expect it to) they may say that they are ready to proceed very quickly......... and then, once they have a mandate to move forward, we might find permits being granted.

I will be at the AGM Fingers, happy to ask any questions.....anyone else going?

Two things; I think that we have squeezed the absolute most out of this LOM RNS following a period when we had to cancel so much drilling. Eight months of consistent mining since the problems of H2 2018 and Q1 2019 are pointing us in the right direction and providing much needed cash to re-instate the drill program which has already started...... (as well as the fact that, way back, Bert told us that there were a million oz outside the mine plan.) Secondly, i am not sure that all the punters out there understand how bad the crisis was a year ago..... it would not surprise me if we sold gold forward in Q2 2019 to make sure that cash would continue flowing and that that was the reason for the poor Q3 gold price receipt.......

This is a genuine post regarding voting at the AGM??...... EMH have set out their proposed deal with CEZ and the potential path forward. There have been any number of dissenting views posted but nobody has actually said what it was that they expected or wanted...... yes, I also fear being diluted completely out of Geomet, but surely KC has the same fears for his own shareholding....... Genuinely, please reply. We have 4 days to vote our shares.
I will attend the AGM in London next week and would like to meet other SH’s if they are there.

Visitor........ and if Betts metals are our sole refiner that leaves another question beyond whether we are receiving an honest price for our gold and that is are we paying a fair price for the refining?

I agree that there is a POTENTIAL conflict of interest. The company should have recognised this and put in place measures to ensure no conflict takes place, these should be minuted. Clearly, the biggest area for conflict is the sale of gold to a related party. I would fully support requests to see the dates of sale and the contract prices received ( and the purity of gold if relevant)

Fingers; what say with the 60/40 debt equity split that the 40% equity is actually the deal we have done with CEZ as they bring debt finance with their political and economic clout?