Petro Matad CEO Mike Buck confirmed that he believes the Exploitation Licence for Block XX in Eastern Mongolia is likely to be awarded in Q2. Watch the full video here.
There is noone out there -not taking anything away from Craig Moultons track record or his qualifications but the fact is we have a crisis in the availability of skilled personnel. A drovers dog could get a job in this market.
Presentation by Greg Han**** standard stuff -as expected with any exploration program for gold - stay focused fellas with luck we will prove up a larger resource. And you didn't have to be Einstein to know that Craig Moulton has been offered a more attractive package -my bet a battery metals play that are attracting significant capital investments.
But Cobra is still a one trick pony -just one of hundreds of gold aspirants who have yet to prove their project has a resource to support a producing mine. NOW is the time to make some important changes - hire an entrepreneurial hands on mine finder - add significantly to the suite of projects and last but not least start recognising that Cobra is positioned in a highly prospective tin province and get off their butt and not only do some serious research but get someone in the field to identify the geological settings in the Hiltaba Granites that are prospective for tin. Still no mention by Han**** of this opportunity with tin now in crisis mode. Stay tuned -I wont be silent -and I will make you a bet -tin will fire up the Cobra share price more than platitudes about what gold resources may be discovered or what IOCG targets may exist which is a million to one anyway. Stay tuned.
Richy If you want a comparison check out Ausgold http://www.ausgoldlimited.com/site/content/
Resources of 1.2 million ozs - market cap $65 million so presumably if Cobra had that sort of resource proven we would be trading at 8p. But one problem -that will take a few years -I got on board AUC at about 1.4 c and bailed out about 5 c for the simple reason I figured in this market I might have a long beard before the share price took off again even though they have a magnificient project. Now that is not to say Cobra walks away from Wudinna but what it is saying we need an entrepreneur on board - we need to ramp up our other mineral potential but importantly we desperately need some additional projects that will attract investor attention. I rest my case -
And why no mention of tin. Check the tin price -check out Myanmar and the affect that is having on tin supply to China -check out the massive investment in semi conductor plants internationally and guess what -tin holds all those circuit boards together. The geology at Wudinna is highly prospective for tin - potentially very high grade and open pittable -that's BIG NEWS and nary a mention . Then if we do have polymetallic settings a little bit of press on silver wouldn't go astray -after all the stunning grades at Paris are not far away in the Gawler Craton.
Hi Richy Slight distraction. No idea what resources may be discovered - I would prefer to see several million oz and given gold is in a bear market no idea of valuation. AGS was going great guns -as were so many gold stocks and now in the doldrums with much higher grade.
I repeat Cobra needs an aggressive marketing oriented CEO but more importantly it needs to get on the front foot and add one or several new projects -raise $5-10 million as some companies are still doing irrespective of the market climate and create some excitement. Wudinna might have great potential but now is the time to either become involved in an exciting new gold province and /or add an iron ore or battery metals play. Check out Bloomberg today -I just cant believe the billions and billions being thrown at the electrification story in Europe let alone elsewhere on the planet. Cobra needs to join the party.
Hi Richy There are probably a hundred ASX explorers chasing the next big IOCG discovery like Olympic Dam or Carrapateena or Oak Dam but how many are going to get lucky. Why I am board ICG -but that's a real punt with some incredibly tangible evidence. Cobra has some interesting targets but study the history of these discoveries - its a long hard road and very long odds. Cohiba right next to Oak Dam -in with a big chance -generated much excitement and share price activity but the drill results did not deliver -and that in an area of very high prospectivity.
Focus on the gold - that's realistic but no guarantees -More later - have a problem here .
Hi Bitcoin Firstly Cobra - great project but will take time -how long always the question - depends on drill results . Forget the copper project - wont fly.
My recommendation with Cobra focus on the gold and tin - and with the sniffs of copper /silver along with the stunning silver grades reported at Paris to the north maybe polymetallic potential -- maybe IOCG - but don't hold your breath.
Clarke looks interesting but where are the cross sections -maybe I have missed so busy ? Cross sections are vital in trying to assess how it all hangs together -and thus far despite some high grade its not brilliant in terms of ore disposition.
Forget ECR -like looking for a needle in a haystack . Huge amounts of exploration dollars invested in Victoria over the last ten years trying to emulate Fosterville -lots of hype - on all that pristine farmland -- but where are the new mines. Focus on WA -we discover and develop gold mines with certainty and in rapid times frames -like Bibra at Karlawinda.
The Lachlan Fold is great but you need a lot of luck - pass.
I am accumulating ICG - very exciting -now my top stock . But do your own research.
Pegging your own ground of course is the way to make money . Our vendor consideration with PGD now worth about $2.5 million -wont tell you how much to peg the ground :-) I am now looking at large Exploration Licences for tin in the Gawler Craton . Tin is going ballistic -the world has run out of tin -- so fast forward a new tin IPO --
Just sold some more areas to THR - And a deal with TKM - by acquiring your own areas at minimal cost you control your own destiny. Why Mark Creasy is a billionaire -
But I am not here to push my own barrow - I want to see some real action with Cobra and as good as Wudinna might be longer term the company really needs to not only fast track that project- get the story out on the tin potential - but most importantly add another exciting gold project to hedge our bets. Like ICG with an exciting copper project in Peru but a more exciting project at Frewena in the NT. You don't want projects all over the globe -but a company should never be just a one trick pony like Cobra -we should have been on the front foot a year ago.
Exploration is a risky game and you need several irons in the fire. And you have to sell the story . Cheers mate
And I don't go on boards anymore - but never say never. I have my developers in Jersey running the ruler over my idea to set up a metals trading platform with blockchain and De Fi - crypto/token payment -same is happening with trading agricultural commodities. Maybe disrupt LME :-) Look at tin -in a crisis and it holds all the bits together in circuit boards. But nary a mention of the huge tin potential at Wudinna !
Biotcoin Check out the CMM quarterly report yesterday. What is always helpful is having a producing gold mine adjacent to your project. Now maybe AGS will have a little CIL plant near Wudinna soon but it doesn't create a level of excitement that somewhere like Karlawinda will do for a company . One BIG mine about to commence production -how many more in the same geology.
Bitcoin I pegged all the ground in Redstone Metals my private company - and with associate companies North West Iron (NWI) and Territory Prospecting . I brought George Merhi on board in the early stages and he is a major shareholder in PGD. I also brought Karratha Earthmoving on board who are partners in NWI and our extensive iron ore interests. All our shares are escrowed for 2 years . I am nigh on 84 so I sold off a lot of my equity in the tenements and to my partners for cash - for the simple reason I will be 85 + when the vendor shares come out of escrow.
But hey buddy I have six more highly prospective tenements at Karlawinda and Prairie Downs - one of which of 80 sq km close to the new Bibra gold mine where CMM has gold anomalies up to most of my boundaries.
I have suggested to Cobra they look seriously at expanding from Wudinna to also embrace a gold /iron ore project in WA. If COBR took on Sylvania despite gold being in a bear market -given the level of excitement with CMM and PGD - we could probably raise $10 million. Then instead of being a one trick pony in Sth Aust. we would be on investors radar screens in the hottest new emerging gold province in this country.
We listed PGD yesterday with seven grass roots areas I personally pegged at Prairie Downs -and the share price up 50% from the issue price of 20c to 29.5 c today . In this market :-) I told Craig a long time ago Wudinna is great -(after all I pounced on it when Greg Han**** brought it to the board) - but I recommended COBR add another exciting project in Western Australia as South Australia despite is potential does not have the same allure as WA. Craig is a top guy but we need a 'mine finder' and a 'promoter'. not just a technical guy. I wait and wonder who is now going to drive the ship ! Lets hope a hands on mine finder.
There is a lot of funding available for tungsten projects now both in Australia and internationally. Check out all the other ASX tungsten players. Once this market settles and gets up to speed with a commodities super cycle THR will rocket.
Gold is in a bear market so this is when Craig Moulton should be promoting some of the other commodity potential in the Gawler Craton. Its fine to have a resource but one thing to have a JORC resource and another to have a mineable resource. Two completely different things - I note noone here does their homework -AGS adjacent is establishing a small processing plant but they have higher grades -I see synergies between AGS and COBR down the track. Craig needs to get on the front foot -months with no conversations to stimulate shareholder interest is a recipe for a stagnant share price. Come on Craig old chap - there is a lot more potential than just gold in the Wudinna -Wilcherry -Paris neck of the woods.
I was an early investor in $KIS (5c) which has now run to 30c and $104m market cap while yet to secure the remaining funding, although imminent.
While King Island is the highest grade Tungsten mine in the world, the Moly Hill grade is nothing to scoff at, especially when the Molybednum credits are factored in.
The project already has major project status by the NT government. With the new $1.3bn critical minerals fund (where KIS is expected to get 15-20m grant), I see no reason why the same cannot be obtained for Moly Hill. The fund was designed to develop critical minerals projects (of which Tungsten is considered one) in regional/remote areas. Moly Hill will be an excellent job provider for the Alice Springs region.
The Moly Hill Project advanced with DFS completed in 2018 and is low capex (US $43m) with a 12 month development period. Tungsten price is showing incredibly strength at US $460/mtu. The Opex for Moly Hill is US $90/mtu. The DFS project economics from 2018 will have vastly improved at current Tungsten prices.
Pay close attention to the commentary in the half-year accounts and the quarterly. Tungsten has always been Mick Billing's first love and now is the optimal time to see Moly Hill progressed into development and Pilot Mountain funded, which is the largest US Tungsten resource (there are currently no Tungsten mines in the United States).
Tungsten is critical in the manufacturing of protective armour for tanks and combat vehicles in addition to armour-piercing munitions. The United States military cannot depend on China for Tungsten supply nor can NATO affiliated countries.
KIS recently attracted investment from elite European bankers, Swiss/Liechtenstein loyalty, the same can occur for Thor.
Tungsten projects are starting to attract strong interest in Australia. KIS - $10 million Govt loan -$5.6 mill. cap raise. TGN at Mt Mulgine- market cap $120 million. VMC - $10 million standby facility - $69 million market cap. EQ Resources $6.5 million cap raise Mt Carbine. Thor only $21 million market cap on ASX. Must be Thor's time in the sun to develop Moly Hill :-)
I expect Thor to re- rate just on tungsten alone.
Helpful Tshipi was in the works for some time but irrespective I have never claimed credit for Tshipi. I have at every juncture said it was a world class asset. See my posts on Hot Copper. Too tired to repeat but in a nutshell notwithstanding Tshipi has been a great success and paid out generous dividends both JMS and RRR failed to grasp the nettle and position in iron ore. If they had -given the institutional support Pallinghurst had at its disposal like Investec -and Posco - JMS and to some extent if RRR had remained the stalking horse it too - could have generated huge wealth for their shareholders like FMG and MIN. Significant capital appreciation as well as dividends. There is no comparison between wealth generation in iron ore and a commodity like manganese.
It's still not too late for RRR if it wanted to become an iron ore player . All I get is 'iron ore is for the big boys' which demonstrates a complete lack of understanding in the UK of an industry that is minting more billionaires in Western Australia than all the other commodities combined.
I am the individual who instigated the successful takeover of JMS by RRR with the assistance of Brian Gilbertson and Pallinghurst -against all odds - and vehement Chinese opposition. All so long ago --- The Tshipi manganese asset was a very good acquisition and has paid off handsomely.
Having said that Priyank Thapyilal and the board failed to carry on with iron ore and position the company as a multi billion dollar enterprise like FMG when they had that opportunity. I put countless iron ore projects on Thapyilal's desk over the years which he ignored. If they had listened to me JMS would not be sitting on a small hematite resource but a very large resource with iron ore going ballistic - boasting a market capitalisation fifty times it 's present market cap. They had and still do have the firepower if they had aggressive management who understood iron ore and positioned -like MIN for instance. RRR also had the opportunity to continue to leverage iron ore -to have used my/our expertise on a continuing basis.
RRR would now be sitting pretty if in the past few years they had also listened to me when through intermediaries I offered iron ore projects that would have RRR with a vastly increased market cap with exposure to the best commodity on the planet. ( I have a new IPO --Peregrine Gold listing next couple of weeks on ASX for which I assembled all the acreage and just completed deals with THR and TKM -including iron ore.) I have lots more iron ore .. When will the board of JMS grasp the nettle and use their firepower !! I know of a sizable iron ore resource 60% + Fe right now that would put JMS into the big league . And I have smaller iron ore prospects that would light a fire under RRR too.
Did it all before -still doing it -iron ore potentially heading for USD $ 200 tonne ! As for the pension fund - interesting indeed.