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Bitcoin, time will tell but the trend with Cobra is market cap goes up, shares in issue goes up and SP stagnates or drops year to year. Look at the trend!
How long do you think it’s going to take to prove up the REE estimate, complete feasibility studies etc?
Craig Moulton thought it would take around 2-3 years to prove up 1m oz resource and maybe 4-5 years to start mining when he was CEO. This was 2 years ago!
We’re nowhere near a 1m oz gold resource, if we’re lucky another 100-200,000oz at Clarke by year end?
That will be great! By which time we’ve run out of money. The market knows this so our SP and market cap gets punished meaning raising at a lower price.
Until Cobra can show the market what there plan is to actually dig the stuff up I don’t see fireworks here at all, far from it.
I hope I’m wrong but I’ve been invested here quite a bit longer than you have and experienced year on year the trend of having to raise for exploration. Nature of the beast but what concerns me is if the trend isn’t broken then it’s going to be a lot longer before we see any meaningful increase in our SP performance.
Not dissing Rupert or the work he’s doing just questioning my investment which I’m perfectly entitled to do!
Time will tell Fairview and I hope you’re right and I’m way off the mark with my hunches.
Best thing for Cobra would be to delist from main market so they’re not constrained to only being about to raise 20% of market cap.
This is why they end up doing months and months of geo chem work and analysis to spread the budget throughout the whole year.
If the 2023 programme contains even more geo chem analysis at existing or new targets I’m out of here!
Don’t see much changing here until resource update.
Thought todays news was so so to be honest and this was a bit worrying…
“Geochemical signatures do not reflect IOCG mineralisation within the Gawler Craton, rather imply prospectivity for both Porphyry and Skarn style mineralisation
· Further analysis will be performed before determining whether these targets will be tested within the September Reverse Circulation ("RC") drill campaign
It was all about the IOCG’s for me so I’ll be looking to offload if these targets get put on the back burner and there’s not a considerable resource update come year end.
Problem with Cobra is the amount of time between updates. We’ve got a few more holes to come with air core results so given todays action not expecting anything substantial from them so sp will drift I’d imagine.
JV could give a wee boost.
3 weeks to complete RC drilling?
Another 9 weeks for results thereafter so investors lose patience selling up, sp drifts, news released that’s positive 10-20% increase then sell on news brigade offload bringing us back down again to an even lower level than prior to news.
Raise to come at who knows what level.
I’m questioning what news if any will set this alight as they’re always a cash strapped explorer with limited funds to really ramp up exploration and keep news flow/drilling results flowing generating interest.
Not trying to de ramp but my enthusiasm for Cobra is slowly but surely being eroded.
Best bit of news this year as far as I’m concerned. Well done Rupert and the team. Being recognised this early in the exploration stage can only be a good thing going forward. Imagine what will happen when we confirm we’ve got an IOCG target with REE mineralisation sitting above it!!
Did anyone manage to attend today? How did it go? Thanks
Hope you all had a great weekend?
Ben from Vigo has informed me they are planning to invite private shareholders to meet Rupert Verco in central London (probably at Vigo) on Wednesday 25th – either for a sandwich lunch or late afternoon drinks. He’ll give a presentation and then can have informal chats/Q&A with investors.
Ben would like to know how many investors would be interested in meeting Rupert and what time would be better for most lunchtime or around 4pm?
I can’t make it to down to London on that date unfortunately as I’d love the opportunity to meet Rupert face to face and ask a few questions.
Please let me know who would be interested in attending and at what time then I can let Vigo know the level of interest. Cheers!
Biggest trade I think I’ve ever seen for Cobra! Bed and ISA maybe?
Zak Mir is usually “curse of the commentator” so hopefully he’ll just stay away from any TA on Cobra this year!
Craig Moulton always insisted the company would suddenly generate momentum as it progressed. First couple of years with minimal funds and time consuming laborious path finder analysis has hopefully been all worthwhile as I think this year there’s a real possibility of getting close to £40m market cap by the time we need to do another raise next year.
20% market cap for £8m and Andromeda having to stump up 25% of exploration cost.
Imagine what they could achieve next year with £8m!?
3p is proving a tough nut to crack! Hopefully we’ll get more REE results next week to plush through it and create new highs.
Nice news! This year should be very very interesting as we progress through the 2022 programme.
Interestingly the adverts on my feed for LSE today contains Ferraris and Lamborghini’s so maybe a sign of good things to come (although even if I could afford to I wouldn’t buy one!)
Normally the adverts are for ladies with curves underwear so no idea what the algorithms are doing thinking I’d be interested in that so supercars make a nice change!
Check out page 4 PortfolioPower…hopefully they can stick to the timeline!
https://secureservercdn.net/160.153.137.14/w32.3eb.myftpupload.com/wp-content/uploads/2021/12/Corporate-Update-December-2021.pdf
Thanks for the info Shipwrecksheep. Good to know exactly what’s outstanding with regards to warrants etc.
Ok bear with me here and apologies for the rose tinted calculations but what are people’s thoughts on the following figures, realistic or not? What are other people’s expectations/hopes and dreams for Cobra next 3 years?
2022
360m @ 2.9p = £10.4m (as of today)
423m @ 2.9p = £12.2m (as of tomorrow!)
29.6m (7% of 423m issued to David Clark if we hit 750,000oz resource this year)
452.6m @ 10p = £45.2m market cap end of 2022 assuming minimum 750,000 oz gold resources, IOCG verification and rare earth resource coming together.
2023
452.6m @ 10p = £45.2m
94m (20% market cap raise for 2023) = £9.4m placing
546m @ 20p = £109m market cap assuming JV with Andromeda, 1m oz gold resource, increasing rare earth resource, 1x IOCG drilling positive and looking more and more likely is indeed an IOCG
2024
546m @ 20p = £109m
109m (20% raise) £21.8m
655m @ 30p = £196.5m market cap end of 2024 assuming 1.5m oz gold resource, feasibility studies underway, rare earth resource increasing, IOCG deposit being proven up with extensive drilling.
2025 - bought out for £262m @ 40p per share!
Shipwrecksheep...David Clarke is entitled to 7% of total shares in issue when we hit a 750,000oz gold resource!
For those who have just jumped on board have a look at the presentation from December which explained the REE potential.
What’s extremely exciting is the elevated REE’s and pathfinders in saprolite proximal to gravity anomaly at IOCG target 1.
If (big IF) there’s economic REE’s above every tenement being drilled that would be immense!
Get drilling those IOCG’s!!!
https://secureservercdn.net/160.153.137.14/w32.3eb.myftpupload.com/wp-content/uploads/2021/12/Corporate-Update-December-2021.pdf
Crazy thing is 37p with 432m shares in issue is only a £160m market cap which is not totally unrealistic given what Cobra may potentially have!
As the subject heading suggests what are people’s thoughts on Cobra’s valuation if we have 1m oz gold resource, a decent REE resource and one IOCG deposit?
Considering we’ve currently got a £7m market cap it’s hard to imagine being valued at £250m but if they can prove up the above and still only have 600m shares in issue 41p would be nice!
What’s everyone else’s take on future valuation with an IOCG deposit, 1m oz gold resource and a REE resource?
Didn’t even get a sniff of being able to take part in the placing! News released out of hours so UK investors couldn’t take part but cheeky but the price could drop to 1.5p regardless.
The board need to maintain the momentum and get drilling the IOCG targets ASAP. They’ve got the funds now and whilst the assays are being conducted on previous drilling for REE (which will take weeks for results) get the market excited about the IOCG’s!!
There’s no way the million plus trade is a buy at that price!