Member Info for RichyRich1

Anyone care to hazard a guess what the next news will be?

Drilling commences or drilling completed?

And you’re perfectly entitled to disagree Bitcoin and I’m perfectly entitled to express my dissatisfaction with how the board have dealt with the latest placing.

No personal digs or insults needed!

You know nothing about me Bitcoin so watch what you’re insinuating.

Only morality I’m questioning at the moment is that of the board of directors who have filled their boots with a placing that could, arguably should have been done AFTER the maiden REE resource and gold resource update was completed at the end of this year and not before!

Latest RNS is embarrassing. They forgot to give a friend mates rates effectively!!

Looking at the positives, with the placing out the way there shouldn’t be anything holding us back IF the upcoming gold resource estimate is considerable and the market views the maiden REE estimate as good!

When they say fast track I hope they mean that and go straight into another round of drilling in January. We can raise up to £2.3m for next year I think so they can still do another placing middle of next year to see us through 2023.

Really really hope the board builds momentum rather than the 2 steps forward then 3 back over the last 3 years we’ve had when purely focusing on the SP performance!

Will be good to have funds in the coffers but I’m sorry the timing of the placing stinks.

Like greedy pigs with noses stuck in the trough! Try and get as many shares as possible before they’ve even started the drilling we’ve been waiting all year for culminating in an updated gold resource estimate and maiden REE estimate.

Why didn’t they wait until the results of the drilling campaign before doing a placing and resource estimates? Pretty obvious why as the board are pretty confident the SP will be considerably higher than 1.5p.

Sorry timing stinks, I’m not impressed at all!!

SP is wanting to push higher on minimal volume.

Fingers crossed news is good and encourages both existing investors to top up and new investors to come on board.

I’m hoping for at least 100,000oz to be added to JORC resource from Clark and got no idea what to expect from a maiden REE estimate!?

I might totally regret this but another £7,000 top up for me over three trades! Fingers crossed the resource upgrade year end is worth the wait!

Well found PensionPot2. Thanks for posting. An interesting and excellent article.

Thanks Rockinghorse, I appreciate your comments.

I’ve been invested in Cobra quite some time now and if other posters would care to look back to my posting history before they jumped on board they’ll realise that I’ve been a regular communicator with the board and comms team at Vigo and passing on any info I can glean with investors here.

There’s nothing wrong with posting an opinion and I hope posters who have a differing opinion can show some respect to others and allow them to express themselves freely!

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.