Member Info for RichyRich1

Everyone and the Cobra team. Hope you all have a lovely day with friends and family and for those that are either alone or don’t celebrate Christmas I hope you enjoy your time of rest! For those that need to work today we salute and thank you.

Here’s to 2022 the year of Cobra (hopefully!)

We’ve got no money! Strategy has back fired waiting for drilling results and then doing a raise.

Does anyone know can we raise as soon as we’re into 2022 or only during Cobra’s calendar year whenever that is?

Orion10, if you don’t mind me asking what’s your take on the IOCG survey results?

211,000oz @ £1339 per oz = £282,529,000 @ 2.5% in ground (??) = £7,063,000 for 65% ownership = £4,590,000.

Morning everyone, I’m sure this will be a bit controversial but I reckon it would be in the best interests of the company to delist from main market and re-list on AIM.

If we can only raise £1m per year it’s going to take literally years to get anywhere with exploration.

Given our market cap hasn’t shifted much in 18 months despite the companies exploration efforts what we could really do with is around £3-4m to really get shifting. Obviously this will dilute if we were on AIM but being able to get multiple rigs spinning at all the tenements (in particular the IOCG targets) I’m sure the added value would be considerable!

At this rate we’ll be lucky to be able to have around £700,000 for drilling next year. This is the issue with Cobra we just don’t have the funds to generate momentum having a 5-6 month hiatus with minimal news.

Hmm! Don’t think these results will get us back into the 2’s. Pretty terrible grades if this is the best from first four holes. Let’s see what the next set of results uncover but I’m not particularly excited by this and don’t think the market will be either.

So far so good! Not sure if it will shift the SP much but certainly positive news. What we need to know now is when do they plan to drill!?

Little bit surprised at price action leading up to results to be honest. Why sell now unless those that are no more than we do? At this rate will struggle to get a raise done at 2p!!

The IOCG’s are frustrating and a catch-22. If the gravity surveys look promising and worthy of drilling RC drilling is not going to cut it we’ll need diamond rigs I’d imagine unless they get exceptionally lucky and inverse modelling shows potential for shallow(ish) depths. If we only raise £1.2m how the hell are they going to be able to pay for diamond drilling IOCG targets 1-3, RC drilling other tenements, gravity surveys on IOCG 4-5 and pay operating costs throughout 2022? We need a lot more cash to really get things moving and just don’t see how they can do it without it taking literally years!? If they had £10m in the bank then sweet but we don’t and would need a market cap of £50m to raise £10m!

I agree Bitcoin and not trying to put a negative spin on anything just stating facts of what’s needed to progress. Nature of the beast exploration, we raise, we spend, we raise, we spend etc etc as long as after each raise more value is unlocked. Unfortunately since the last raise this value hasn’t materialised in terms of market cap and SP performance but there will come a time where we should rerate as long as results are positive. My biggest concern is how slow we can progress due to the main market rules only allowing us to raise 20% of market cap. Currently £1.2m limits how fast we can get the drill spinning in multiple tenements to unlock value. IF we can get closer to a £15m market cap (not convinced we will get there before we need more funds!) £3m can go a long way compared to £1.2m!

Not being sarcastic. If they’re following the timescales given in the investor snapshot then there’s no more drilling until Q3 2022.

https://mobile.twitter.com/Cobra_Resources/status/1455828977747124224/photo/1

Wouldn’t hold your breath on the JV with Andromeda. If they were really interested they would have signed one by now.

Looking forward to drilling and gravity survey results next few weeks. We better hope they’re good as the board need to raise funds sooner than later!!

Shame we couldn’t get one hole into Benaud. So that’s it for drilling until Q3 2022!?

Would be nice to get an update on Monday. Drilling at Clarke should be complete by now (estimated 2 weeks from 4th November) and gravity survey results “within 3 weeks” from 8th November.

If not this Monday certainly the following Monday!

I’m a bit more cynical Bitcoin, yes skin in the game but not exactly funds from his own pocket going into the company. Cobra raises money and puts pretty much all of it into exploration, we hit an important milestone of 65% ownership and David Clarke gets another 36m shares diluting us by almost 10%! Would have been nice to see him increase his holdings by buying another 10m shares on the open markets and putting some of “his skin” in the game. An agreement is an agreement at the end of the day. Wonder how many more he’ll get when we get to 75% ownership and Lady Alice Mines are entitled to another 7% of share issue when we hit 750,000oz! Not bad for those that an get it without having to pay for it!

Well that’s been well timed just before gravity survey completion and drilling results. Think David Clarke is going to do very well from Cobra!

Are the MMs insisting on keeping the ask at 2.2 and sell at 1.8!? It’s almost like they don’t want to create a market at all for Cobra. No ones going to buy with a 22% spread and most holders are locked in for the gravity survey and drilling results so unlikely to get many selling at such a critical time for Cobra.

If it is a case of MMs not having any shares on their books and both the gravity survey and drilling comes good can see this moving north rapidly! Only got about two more weeks to find out the IOCG survey results IF the board decide to share them!

I’m guessing the 1.99p are actually buys? Does anyone know what the real spread is please? Thanks

What’s with the 22% spread!! MMs killing any trading.

Hey Dillon, first set of drilling results should trickle through around Christmas. Mid to end of January should have all the results back by then.

IOCG gravity surveys end of November if they decide to release the results of the surveys!!

Couple of things from the slide, IOCG 4-5 next year. Where’s IOCG 6 that was mentioned in the presentation that looked promising?

After this round of drilling no more RC drilling until Q3 2022!