Member Info for itsatragedy

Typical aim share, the small pi ALWAYS get screwed

You can apply for the offer now through your brokerage account, up to 3:30 pm on 16th Feb, but may close earlier without warning.

I'm not sure if I want to gamble any more on this stock, no faith that Bert is acting in the interests of the small retail investor. If no news on the permit in the near future it may get down to 6p anyway.

Project finance is usually arranged after the permit is in place, better terms can be agreed when the project is significantly de-risked. I suspect Bert is not being entirely open with the market.

A 44% discount is massive. I though we were going down to 6 pence but the SP seems to have some support at the current level. The small shareholder gets shafted or diluted into oblivion with most AIM mining stocks, lets see if CORA is the exception. I'm not optimistic.

Active Licenses / Total Licenses: 628 / 2850

Active Applications / Total Applications: 42 / 1395

The Mali repository indicates 42 active applications but this hasn't been updated for a long time and I suspect it's very inaccurate. The new minister reporting directly to the president (ex-Barrick guy) has taken over powers previously held by the mines minister. The gold output was down hugely last years so I assume he will be tasked with getting things moving quickly to bring in the cash which they badly need. You need to have a strong stomach to invest in Mali but I'm fairly optimistic were getting close now.

Only messaging from the company stating that it had already relinquished the affected permits over two years ago and that the delayed cancellation has no impact on its operations. The company also mentioned it had not received formal notice of the cancellation from the Malian authorities. (So much for their "positive engagement" with the Authorities). The company noted that the delayed cancellation had no impact on its current operations and did not require a response.

Fair enough, but with the SP down circa 50% from October I would have expected Cora to provide a much more upbeat response to their shareholders or the SP will continue to drift down.

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I think B2GOLD have played this better that Barrick ( I'm invested in B, and their Loulo-Gounkoto difficulties might be resolved at some stage although not holding my breath) but Cora transitioning from explorer to miner should be good news for Mali Government and I would expect issuing the mining permit to be a formality. They agreed to all the conditions of the new mining code so no reason to delay issuing it. When the permit arrives there will be a major re-rating of the SP.

I can't see any current information on the permit application. Do you know if the permit has been applied for under Cora Gold Mali or Sankarani Resources ?

Harry, in answer to your question I find this quite helpful

https://mali.revenuedev.org/dashboard

They have enough cash runway for another year, if this doesn't get taken over before then the ordinary shareholder will be diluted to oblivion. I'm still hoping for the best but wouldn't bet the farm on it.

"If ZIOC raises additional funds (including for the purpose of funding the construction of the Project or any part of the Project, including any small-scale start-up) through further issuances of securities, the holders of ordinary shares could suffer significant dilution, and any new securities that ZIOC issues could have rights, preferences and privileges superior to those of the holders of the ordinary shares."

AGM. You didn't miss much, lasted 15 minutes , permitting progressing with Mali government, in regular contact with them etc. nothing new reported. I think there was one shareholder in attendance.

I suspect it will not affect the permitting process for Cora but will put off investors willing to take the mine into production. Unfortunately, this is not a mining friendly country now. The SP should re-rate big time as soon as permits in place. If you believe this will follow the expected progression on the Lassonde Curve, I would exit at that stage. Anyway good luck and DYOR.

If this goes against Barrick it doesn't bode well for any PM miners operating in Mali.

DAKAR/TORONTO, May 14 (Reuters) - A court in Mali will hold a hearing on Thursday to consider a request made by Mali's military government to reopen Canadian miner Barrick's (ABX.TO) DAKAR/TORONTO, May 14 (Reuters) - Loulo-Gounkoto gold mine under a provisional administration, a court official said.

Granting the request would represent a major escalation of a dispute between the West African country and the Canadian miner after operations at the complex were suspended in January in a dispute over taxes and ownership.

Ive consistently lost money on AIM shares, most recently with HUM, where the PI's were effectively robbed by the board. Holding shares in an AIM company is more akin to a gamble than an investment. Small investors have little idea what's going on behind the scenes and most AIM directors are only really interested in maximising what they can walk away with at the expense of everyone else. I'm a LTH of CORA and ZIOC, my last two AIM shares, both have very compelling back stories, otherwise I wouldn't have invested in the first place. and will stick with them and see what happens. Hoping for the best outcome here but wont get too excited until the fat lady sings.

Good dividend here but SP has been relentlessly down for past 3 years circa 40% drop, discount to NAV now over 30%. Others have suffered, eg UKW, but nothing like this. Whats the problem with GRP?

For info, response from the company today regarding query on expected timescale for the permit.

The Cora team have maintained a good deal of development work whilst the moratorium remained in place and the team are confident that the redrawing exercise can be completed in the near term, allowing Cora to move forward and lodge the mining permit with the government. Whilst it might be premature to provide exact timescales at this point, the team are in a good position to deliver on this in short order and will keep investors apprised of updates via the normal regulatory channels.

The Company anticipates a pipeline of news flow over the coming weeks and months and looks forward to sharing these developments with shareholders in due course.

Best regards,

Meaning of MEIA (extract from Seeking Alpha's pretty negative assessment of hoc)

"As for the 2023 outlook, there's not much to write home about, and any positive developments have been largely overshadowed by the delay in receiving Inmaculada's Modified Environment Impact Assessment [MEIA].

A lot of misinformation on this board, I don't understand why many here are still invested when they clearly haven't a clue about the business. Share holder value is being destroyed by Simon Thompson who's agenda is to asset strip the RMG via a deal with a private equity firm, a claim he has not denied. Dave Ward seems to have more ideas to change and grow the business, to the benefit of workers and shareholders, than the CEO. Time for Simon Thompson to be sacked and bring in someone that can manage the situation and at least looks like he knows what he's doing

Hi
Im new to this board, so apologies if this has been discussed before. Is the governments proposed new round of the windfall tax (likely to target renewable energy generators such as wind farms) going to have a significant affect on the sp here? Or is UKW insulated from any windfall taxes imposed on renewable generators due to the CfD contracts?

I see the Fool are touting HWDN in their 5 stocks to build wealth after 50 pitch "Howden Joinery continues to defy expectations, delivering double-digit growth".
Is this still the current position with Howden?