The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hey Carribean, hope you’re well? I’ve asked Ben at Vigo if they did manage to do geo chem work on the IOCG targets and if the “interesting features” were related to this work or from previous analysis. Also asked roughly how long for gravity survey to be completed.
If I get a reply I’ll let you all know.
Call with Rupert would be very interesting. Hopefully he will be as forthcoming and helpful as Craig was when dealing with PI’s.
We must be getting news soon laying out the drilling schedule. If they’ve signed a contract for 4,000m from mid October surely they already know where they’re wanting to drill!?
While we wait for mid October to come around and the start of drilling, the latest remarks on Cobra’s Twitter feed is teasing....
“Gravity survey beginning soon on 3 IOCG targets with interesting features - RC drilling will test one or more of these subject to results”
“Interesting features”? Wonder if the geo chem work has thrown up something that’s piqued their curiosity? As far as I know there was geo chem work planned on the IOCG targets?
Does anyone have any idea how long it would take to do a gravity survey?
On another note we all know the board will have to raise funds after this round of drilling if not before.
What’s everyone’s expectations/hopes for the next fund raise?
Wishful thinking on my behalf but I’m hoping the SP is sitting around 5p with market cap roughly £16m.
20% for £3.2m @ 4p (mates discount from 5p) 80m shares issued!
That news has now been superseded by our new CEO’s interview when he stated they were having difficulties drilling and it would be around end of August into September before completion. Then another 5-6 weeks for all assays to be returned. So with any luck mid October we’ll get the RC drilling plan IF they’ve managed to source a drilling contractor!
The board have a lot to answer how they’ve managed the geo chem drilling. They must have known they were facing difficulties when drilling and should have been proactive and got another rig in to speed up the drilling and try to stick to original plan. Originally the drilling was supposed to be completed by 23rd July. It will be 5 weeks on Friday overdue and who knows how much more they’ve still got to drill as they’re not updating the market with progress. Can understand people selling out. I just hope they get their act together when it comes to the RC drilling!
Hopefully will be worth the wait Burleigh! As far as I know we’re funded for the geo chem and next round of RC drilling. What we don’t know is how many holes/metres this will be. After this expenditure that will take us to 65% ownership of Wudinna probably by Q1 2022.
Definitely a fund raising due soon. I’d hope they will hold out until all the assays are in for the next round of drilling before issuing more shares/raising funds!
https://mobile.twitter.com/Cobra_Resources?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
As title suggests the board need to get out of the habit of spending 6-8 months doing geo chem work before drilling. I know it’s important to de-risk before drilling but surely you do all geo chem work covering the whole tenements then drill drill drill and not 6 months geo chem, drill then another 6 months geo chem. I’m really hoping end of 2021 and most of 2022 is RC drilling only.
This is the problem Waynesmith there’s nothing juicy on the horizon. The company need to get their finger out and post regular updates on twitter showing how drilling is progressing to keep those invested interested. If there’s no real news of substance until end of September who knows how low this will be dragged down!
Morning Bonkers, I’ve had it confirmed we won’t be getting results per se of the auger/air core drilling.
Next update will be geo chem drilling completed, analysis for remaining assays underway etc. This will hopefully be around end of this month early September.
We might get confirmation a drilling company has been agreed but I can’t see how they can tell the drillers this is what we plan for Q4 drilling without having all the geo chem results back and analysed, chicken and egg situation.
So news timescales could be something like this...
1. Geo chem drilling completed, final analysis underway, operational update - end of August/mid September.
2. Drilling contractor assigned - mid to end of September.
3. RC drilling plan for Q4 2021/Q1 2022 - end September.
4. Mid October begin drilling.
Caveat on timescales is availability of drilling contractor!
Long term agree Bitcoin but short term we’re going to be in the doldrums for quite some time. RC drilling won’t commence until October at the very earliest and that’s if we can get a drilling contractor sorted which is causing issues due to availability.
We won’t be getting any news on the assay results from the geo chem drilling. Results will be part per billion, they’ll never release that to the market but will give them the pathfinder elements (or lack of) that they are looking for.
The earliest drilling results from RC will be end of November and that’s if the labs aren’t still swamped and drilling commences in October.
Earliest I see news of any importance will be when a drilling contractor is confirmed and an operational update after geo chem samples are back from the labs and reviewed then a detailed drilling programme announced (mid October?).
Don’t hold your breath for news I think it’s weeks away before we get anything meaningful but once we get going news should be thick and fast. Hope they don’t use Christmas Eve to release rubbish drilling results again!
Good to have some timescales as long as they can stick to them! I know these things take time but it was supposed to be a 5 week programme now going to be 10 weeks before completed as long as no more delays. Mid October now before all assays back (as long as these are turned around in 5 weeks which is unlikely). So realistically it’s going to be November before they have reviewed all the results and decided on RC drilling plan.
Long term still confident but think we can write off 2021 for any RC drilling results!
If they’ve managed to stick to the plan geo chem drilling due to be completed tomorrow, 5 weeks!
Augur drilling started 23rd June so week tomorrow it should be completed if they stick to the original 5 week plan.
Assay results might start to trickle through first week in August then by the end of August all results in again if the results come back within the 5 week timescale they thought it would take. Not holding my breath on that due to labs being swamped but you never know.
All results reviewed and drilling plan announced mid September.
Unless there’s something special that comes back from the geochem I don’t think we’ll get any meaningful news until mid September so a while yet.
Left field news....update on JV and...???
Good time to keep building a position in anticipation of drilling later in the year and fingers crossed they hit good grades.
Morning everyone, not sure we’re going to get any results as such from the geo chem drilling. They are looking for pathfinder elements which are typically very low grade but should help them pinpoint where to drill deeper. I could be wrong but I don’t think we should get hung up on waiting for results being released from this round of geo chem analysis. Next major update will be when they announce the drill programme from mid September onwards unless we get news on the JV with Andromeda in the meantime.
Excellent, 2 months to get up to speed before Craig departs. Onwards and upwards.
Geo sampling drilling begins tomorrow! 5 weeks to complete then another 5 for assay results which won’t be released as such as quantities are minimal but I’m sure if anything interesting pops up from the IOCG samples they will let us know.
September onwards things should heat up!
Jesus how long does it take to appoint new CEO when already down to a shortlist according to Greg during presentation which was two weeks ago! Appointee really needs at least two months for a smooth transfer. If no news by mid July I’ll be getting very worried.
May be wrong Venke but don’t think we’re waiting on a resource update, that won’t be until after the next round of drilling I’d imagine.
So Craig has confirmed during the webinar mid September is when he is leaving Cobra.
That’s give them roughly 3 months to find a replacement. If there’s going to be a smooth transition our next CEO/MD needs to be in place ASAP as Craig leaves when the drilling programme kicks off. I’d imagine any new CEO is going to want to have input into exactly where the drilling is going to be.
To be honest I’m a little surprised we’ve not appointed someone already so they have time to serve their notice if they need to do so!
What time scales do you think Dan for IOCG? Geo chem indicators (hopefully!) by end of August, one maybe two drill holes before the year is out then depending on the results from that and the next raise ramp it up 2022 on the IOCG’s?