Member Info for JamestheBard

Look like buys, one from earlier today and 2 from yesterday?

Todays minutes had the Minister of Mines dealing with a permit transfer for Toubani. So hopefully?

Massive news for Mali is signing of a cooperation deal with Guinea to use their deep sea port for import and exports. Huge new access for the whole of the Sahel.

Sanankora is about 25km from Guinea border, so opening up access to the south from the south could be helpful for Cora.

This certainly helps improve the whole outlook for Mali, risk, economically, politically etc.

Be a few days for local press to cover it and probably a few weeks for western press if they even bother.

Access to a new deep sea port for a landlocked nation is significant.

Mali has also just announced large investment in roads and provided significant heavy building equipment and machinery to the military engineers. All seems coordinated to put the new route in. Actually the Chinese used Guinea port to deliver 100 armoured vehicles to Mali in December.

This news derisks Mali for investment purposes, enhances its commercial attractiveness and creates competitive opportunities.

DYOR

10p just over 2m shares, not missing but needed to check London Stock Exchange List at the time. Was probably a DMA trade, listed as available for sale at 10p and a buyer took them. So no real impact on the market. If no buyers appear the shares aren't sold. Cora often has shares traded like this but usually by accumulators rather than bulk, no spread. It needs that buyer to create that sale and skips the MM, so part of the strong buying today. Moves some potential resistance around 10p.

Zak Mir has covered the chart on his X, suggests 12p in days and 18p now 9p is broken. Chartists follow him.

UDFS was based on probable reserve 531koz but doesn't include the inferred resource of 346koz, safe to covert that at 50% to 173koz reserve. Its in the mine area but would require the cost of drilling to move to probable reserve.

Price of gold used was $2750, so at least $3750 would be used now.

Lets be generous and include the full inferred reserve at 173koz and gold at $4000, adjusted net present value could be £494m.( Modelling would probably use 50% inferred reserve and probably $3750).

Resource is still open all around and Senegal isn't included.

I like the concept of retaining Senegal and selling Sanakora.

A purchaser could pay £200m add £100m build cost and achieve payback in approx 4 years. With full growth potential, has to be attractive.

DYOR.

Morila is presently a non producing mine, not fully protected, had no private security and no modern perimeter security to prevent ingress via the pit area as happened here. As no gold was stored there was no high level gold storage level security, only gendarmes. It is very remote and a full military response was required by helicopter to sweep and secure to region. Cora site is much nearer to any road based support and can design the mine to have a series of zig zag trenches to prevent rapid motorbike access, plus fencing, concrete and rock funnelling.

Cora has built in solar to its design and has from the outset limited its fuel requirements. Mali has announced the opening of the Kayes route and the Bougouni route, nearest Cora has been delivering fuel for a while. Mali is negotiating access to Guinea deep sea port and Cora site is about 25km from Guinea border. Guinea is a possible supply route for Cora. Mines will be easy to protect compared to hundreds of miles of roads and no properly protected mines are expected to be attacked.

The new minister does report to the president and take on some of the Minister of Mines duties, including oversight. The Council of Ministers continues to issue permits.The Minister of Finance also still has a strong role.

Mali security has 3000 extra security personnel in the last month or so. The new regional AES 5000 strong rapid reaction force is full equipped with armoured vehicles, air assets and is conducting missions. In the last 6 months FAMa have received 160 armoured vehicles. New mobile comms vehicles are in the field allowing commanders to coordinade drone air surveillance with airstrikes and ground follow up.

Anyone following will observe a significant change since September in the military now being on the front foot with air assets making a huge difference. Almost daily airstrikes now from air surveillance.

Additionally 1000 former Taureg fighters are just being recruited as part of " one Mali" to formally lay down arms and join FAMa. Plus indications of an 80,000 strong volunteer force to be trained to support National Security. Regular large fuel convoys are being delivered but they are right now trying to build stockpiles up for Ramadan.

There is no reason that with proper planning that the mine cannot be built and operated. Malain people live with life in Mali day in day out.

There is plenty in local Mali press on mining and the mining code right now and is being read as the political manauvering and precursor to new mining permit announcements. As far as I can tell 2 are ready, Fekola (extending) and Sanankora, they might want to announce together. Because it is also a political event.

A new minister level appointment has been made this week reporting directly to the presidency, Commissioner of Mines.

A new role to support Minister of Mines, advise, monitor, streamline and advise the President.

Almost a recognition that processes are too slow and that an important sector needs greater assistance at top level.

IMHO President will have been waiting for this new appointment to the Council of Ministers before the Council of Ministers approved new permits. It's just Cora shareholders didn't know!!

New Minister was his special advisor on mining so he isn't new to anything thats already progressing, he comes in up to speed.

Expect permit news now sooner than later IMHO.

DYOR

60p to 1p, is it going back to 60p, no. Does new experienced CEO Alex Duggan have enough to work with to get it back up to 4 - 8p, yes IMHO.

Plenty of short term catalysts to come in Q1/H1.

DYOR.

Smudge, my analysis goes through local, regional, national, AES, ECOWAS, AU, UN, news sources, security briefs, religious, JNIM, government, youtube, minister, ambassador, governor, military commander , security analysts. Regular daily monitoring of Mali and the wider region permits a proper understanding of local daily life and trends on the ground. In English, French, Arabic and sometimes Russian, Chinese or Turkish. (Translation software). Western press only emphasises certain news, never the mass of daily positive news and can do attitude of Malains that will get our mine built.

The more I know the more undervalued Cora is and that the expected rerate should be more explosive. Especially when considering part of mcap can be notionally accounted for Senegal and the amount of stock held in firm hands.

All IMHO and DYOR etc.

I've been reading the Council minutes immediately upon release each Wednesday or Friday since December, when the permit was possible for being on the agenda.

But each weekly meeting now is much more in the window for the permit actually being granted IMHO.

My timescale was originally 1 - 4 months from end Oct 2025 to reach the Council of Ministers.

Any positive news on Eroxon will be an unexpected bonus,aside from outcome of talks on US sub distributor or a China deal. The real progress can be made from Eroxon Intense, HUT data due to be released Q1. Plus once HUT data for WSD 4000 received CEO can negotiate partner deals prior to marketing approvals(risk sharing model).

CEO is investigating divestment and divesting both Eroxons would be the fastest way to a clean reset and £40-£50m mcap, with some cash, WSD to take forward and troublesome eroxon gone.

Think their report has overlooked plenty of options IMHO.

My research has concluded that the Minister of Mines has completed the full review of the permit process and is supportive.

The permits are issued by the Council of Ministers, chaired by the President. The permit has to wait to be placed on an agenda to be considered by a full Council meeting, held weekly.

This is what Cora is waiting for IMO and is the final stage before a permit can be issued .

This conclusion is supported by CEO posts on X, 28th Oct 2025 and subsequent CEO interview on directors talk.

https://www.***************************/cora-gold-funding-boost-fuels-sanankoro-s-push-toward-key-permit-milestone-video/4121231079

ceo interview on directors talk, cora gold

Apologies for missing this earlier, "Cora's relatively low rating and attractive exploration potential could see the company become a target for mid-tier Chinese, African or Turkish entities, we believe."

They argue that it is presently only valued as if gold was $1400. Similar to my calculations that it is barely valued at 10% conservative net present value.

Cavendish analysis is on Research Tree.

The fundraise prompted a quick review by Cavendish who have raised their short term price target from 16.2 to 18.2. The fundraise, at just 4 % discount, with stakeholder and director takeup signals strong confidence and the strong gold price.

Excellent, some of these funds will be used for continued exploration of permit areas. Hopefully Senegal and maybe prove up the inferred resource, no need to but moving from inferred to proven gives a big tick up in npv, most have even overlooked the inferred resource even exists.

Check Cora on X, 28th October, for meeting with Minister of Mines.

Plenty of mention and legal costs to explore divestment. Maybe they will divest Eroxon and Eroxon Intense for multiples of present MCAP and leave themselves clear to take WSD 4000 forward.

Research shows operation Fuga Kene is showing results. The force was established to clear the Ivory Coast trade route and remove Jihadist cells and capacity to operate. Essentially clear Jihadist ability to operate south of Bamako, making it very high risk for Jihadists to remain or operate south of Bamako.

This force links with Russian forces, has air surveillance and airstrike capacity.

Additionally a high level delgation has visited Guinea with the aim if utilising their deep sea port. This will bring more goods up from South of Bamako.

The importance for Cora is that it is south of Bamako near Bougouni, the area that has been deemed vital to be made safe.

There is a lot happening right now to exert government control south of Bamako, which is excellent for Cora because high levels of security forces will remain in the region to prevent them returning.

The final report has been presented on the results for implementation of the new mining code, so that adfitionally clears the deck for new permits.

Couldn't find the usual minutes for Council of Ministers Meeting for yesterday but 4 Ministers were in Guinea negotiating security and trade deals for access to the sea and secure borders.

So the weekly meeting may have been rescheduled and so may still be a chance of the permit this week.

Can't be many more meetings before Cora permit is on an agenda. Can't find published agenda information though.

Think those are purchases by direct market access. Seems a strong steady buyer over recent weeks at 6.25p accumulating.

AfricaHub, my least trusted source, if true President Goita utilises "French backed attempted coups" to stoke anti French sentiment and reorganise his top Generals. In Mali the Jihadists are French backed, the Fuel situation was French backed, the French backed press missinformation campaign exaggerating the downfall of Mali was French backed and sponsored. They are anti French.