The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I notice that ASX listed Greentech Metals Limited (GRE), in which ARV has a substantial equity stake, has started moving in advance of anticipated drill results. If results are very good it could also provide a boost to the ARV share price. Lots of news to come over the next couple of weeks.
I disagree Jonfon. MTR is classified as an investing company not an exploration company. I do recall you you were not keen on Cobre and the JV project in one of your earlier posts. Personally I would prefer to have equity exposure through Cobre rather than to have to bankroll a drill program.
Also out of $7m raised, $1.67m worth of shares (11.13m) will be going to MTR ($1.47m) and Andrew Sissian ($200k) and obviously won't be sold, so the remaining new issued shares at large (if all done via Canaccord ) will be circa 35.53m. The drill company, Mitchell’s, took AUD300k.
Raise oversubscribed at 15c. MTR pro rated to keep stake at 21% so roughly an additional 14m shares.
Good to see MTR participating on a pro rata basis to maintain their percentage holding in Cobre. I wonder if they will offset the loan instalment of £750k due from Cobre to take up their participation.
I expect that a TH will be announced tomorrow or Thursday for CBE. It would also make sense to do a CR at the same time to take advantage of the SP.
It will be very interesting if Cobre go into a TH again!
I would imagine MTR would have known that Ngami would be drilled when the disposal negotiations were going on. There will be a big capital raise by CBE at some point to finance infill drilling to get a JORC resource calculation. That will be mighty expensive as infill drilling has to be done every 25 metres! Under the terms of the sale MTR does not have to stump up cash for the drill program. I imagine that MTR will want to keep their holding as near to 21% of Cobre as possible so they will participate in the capital raise and avoid dilution.
Judging by the speed of results for hole 2 we should have visuals and XRF analysis for hole 3 any day. This could get very interesting!
All eyes on Cobre tomorrow morning when the ASX opens!
Agreed TF1. For a TH at this stage is very very unusual. I expect that they will announce very promising chalcocite visuals. It will be interesting to see how the market reacts in Australia Monday morning. Our 35m odd shares in Cobre will finally have a substantial value.
The anticipated and impending resource upgrade at Carlow Castle could well be the catalyst. Liquidity of this stock is much higher in Australia. I anticipate that the upgrade should be announced within the next couple of weeks at most. So expect position taking place next week and the following week with higher volumes on the ASX. . If the results are better than expected then we should see a good re rate.
This was posted this afternoon on HotCopper and also sums up my feelings on the stock. The quarterly is due out tonight so we might get news on Carlow Castle. If not we should get news in the next 10 to 14 days. In any event we could see a dramatic turn around for this unloved stock. Also look out for news from Green Tech a spin off from Artemis. There could be some game changers with this stock and could rub off on the Artemis share price. Hope this helps.
“I'm starting a new thread on the upcoming Carlow resource upgrade.
Based on my research this is probably the single biggest share price catalyst in the short term.
Crosscut drill results are the game changer here and should add a lot of high grade copper/gold tonnes.
Resource upgrade might surprise the market?
I think I've called this one right.
Have a look at all the previous Crosscut drill results announced in December and a couple of weeks ago and see if you agree?
Resource upgrade might surprise the market?”
Quicker than I thought. Cobre in a TH. We should now know Monday what the results from Ngami will be.
A good result from the first diamond drill at Ngami. If the second diamond drill hole 1km away exhibits the same results or better then game on! We will know very soon. With MTR owning 35m shares in Cobre this position is looking interesting. MTR hold a 2% Royalty over most of the Cobre licences.
I would contact Dominic Berger. I remember seeing some videos back in 2016 when the company was looking to raise pre IPO financing. From my recollection it was very effective and drew me in as an investor then. I don’t know if these videos are on You Tube.
Yes they are good results and very promising but further drilling needs to happen to define the resource. We should be expecting more drill results for Carlow Castle in the next few weeks and a resource upgrade shortly after. This will be very interesting as there was a downgrade last year. If the upgrade is good then we should start to see interest in the share.