The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Do we have any clue as to when the Stage 2 re-analysis results are due - really keen to see the results from Boland - but I suspect that its the Uranium from Pureba (if discovered in volume) that might finally wake the market up, ironically.
Haha, my £3 valuation was for a fully operational mine, which is a long way down the line. Sorry if I got you too excited.
My 2.5p valuation is for the share price right now, based upon what Cobra has today. My valuation is based upon resource estimates for Clarke + Baggy Green REE, Thompson REE, Boland REE (at current REE ore prices) and Barns+White Tank+Clarke+Baggy Green Gold (at $2000 gold price). Calculation includes total tonnage (factored by TREO ppm/%), recovery percentages, a reduction factor based upon the quality of find [Measured (0.1), Inferred (0.05), Extensively Drilled (0.01), or Explored (0.005), with a 10-year mine life. All in an Excel spreadsheet and adjusted weekly. Today's calculation $17.99 Market Cap (2.7p share price). It's far from gospel but at least its a stake in the ground!
Well, following the information provided in the 'Sunday Roast' interview, if Cobra manages to get the 10sq. km. of Boland into production, even at current REE prices and a 10-year mine life, the share price should be about £3. I know we are a long way from that now, with much dilution to come to get there; it is EYE OPENING!
I bought shares at 0.25p to bring my previously invested shares down to an average price of 2p. I sold half at 3p and sold the other half at 2.6p. And now I am steadily buying them back again as they fall towards 2p again. I love this stock.
I have done a pretty comprehensive evaluation of the company based on all resources discovered, current mineral prices, etc., and I have a current valuation of 17.27 Million (lots of variables and unknowns, I know), but by my reckoning, the share price is understated and should be somewhere between 2 - 2.5.
This looks like a holding RNS with only a few of the 220 assay results in. Analysis seems painfully slow at the moment. Still, some interesting new data, all going in the right direction, and some Uranium to add to the melting pot.
It doesn't matter how many forward sales are made and how many times these shares are traded before the date. The simple fact is, that 330 Million new shares will be added at 8.00 am tomorrow. DYOR!