Member Info for RichyRich1

Posted on Twitter. Hmm!!?

https://secureservercdn.net/160.153.137.14/w32.3eb.myftpupload.com/wp-content/uploads/2021/11/Company-teaser_vFINAL.pdf

Wonder if there has been a delay to commencing drilling? I’ll try find out if they have started drilling although I’m sure we would have had news if they had and if they intend to release a plan showing where they intend to drill. Keep you all posted if I get a reply.

Really thought we’d get a drilling commenced RNS this morning but hey ho.

On the 12th October Rupert stated gravity surveys over IOCG targets 1-3 would be completed in 3-6 weeks. 3 weeks is tomorrow so you never know we might get a bumper RNS tomorrow with gravity survey results alongside drilling commenced!

Very surprised we’ve not had any indication of the drilling plan so far.

Pressure building! Are we about to pop upwards!?

Calls for interest 26th November with closing date 19th December. Could be perfect timing as the gravity survey results for IOCG’s 1-3 will have been completed by then.

Cobra will be in a much better position for successful funding this time round now they’ve got highly anomalous copper & elevated pathfinders and hopefully positive results from gravity survey’s by the closing date.

I’ll try find out if the board intends to pop in an application.

https://www.energymining.sa.gov.au/minerals/about_us/initiatives/accelerated_discovery_initiative

Hi Burleigh, almost every company exploring in Australia that has potential gets compared to being the next GGP. IF Cobra strike an IOCG that will dwarf Greatland’s discovery at Havieron so I’d imagine a £200m market cap would be conservative!

It will take a lot of drilling to prove up but I also think Andromeda will happily commit to a JV if there’s even a sniff of an IOCG and who knows what other companies might be interested in tagging along for the ride.

Just to be realistic on the flip side all the gravity surveys could come back not quite as promising as first hoped then we’ll be a small explorer looking to prove up 1/2/3m oz on their tenements. Not to be dismissed especially as we could be producing in 2-4 years from now we just wouldn’t have the same explosive growth as discovering an IOCG.

That’s my take, hopes and dreams could be way off the mark.

Let’s say for arguments sake Cobra has 500m shares in issue by this time next year, fund raising due soon, warrants if taken up, 7% of issued shares to Lady Alice after 750,000oz confirmed etc.

This is massively speculative and a huge ramp but if one gravity survey points to an IOCG followed up with drilling confirming it is indeed looking likely I can see a £200m market cap easily. Seems far fetched when we’re sitting on a £6m market cap currently but the board have stressed multiple times how transformative an IOCG discovery would be for Cobra.

500m shares with £200m market cap so 40p per share!

What if they unearth two IOCG’s and prove up more than 1m oz on the other tenements!?

Having enough funds to drill 2 IOCG targets is going to be the issue as diamond drilling is expensive.

The future is looking very bright indeed for Cobra but it’s all in the drilling and very speculative at the moment.

....from Cobra regarding copper price increasing with the following info...

“Cobra is advancing exploration of its IOCG targets at Wudinna after highly anomalous copper & elevated pathfinders were found in recent pathfinder drilling.”

Get cracking with those surveys! The suspense is killing me. Does anyone know where IOCG 6 is? Never seen it referred to until the last presentation.

I’ve been thinking about the potential JV with Andromeda. Craig mentioned that Cobra lawyers were looking into the best way to structure the JV that might present opportunities due to changes in accounting practices and to minimise capital gains or something like that.

I’m sure that’s true there’s been a change in accounting practice but I think it’s a bit of a smoke screen.

I think Andromeda are/were happy for us to continue increasing ownership in Wudinna as there’s not really been anything substantial found as yet.

The next round of drilling and especially the gravity surveys will be the game changer. I reckon there’s a few peeps at Andromeda keeping a very close eye on Cobra over the next few months. If Clarke shows promise with drilling results and IF any of the IOCG targets pass the initial gravity surveys showing they might actually be IOCG’s Andromeda will jump on board quick smart and sign off on the JV.

I don’t think Andromeda are interested in stumping up 35% of exploration costs to prove up 1m oz gold and will allow Cobra to proceed to 75% but will be more than happy to JV on an IOCG.

If any of the 6 targets pass the survey inspection Andromeda might wait until there’s been a couple of holes drilled to confirm it is mineralised at a reasonable depth.

So I think the JV might be done and dusted by mid 2022 depending on the above results.

Just my musings, could be way off the mark!

What’s with the 20% spread!?

Morning, what’s everyone’s expectations on JORC figure if drilling is positive at Clarke? I’m going for a tentative 200,000oz. We still don’t know what the drilling plan is but I’m hoping after the upcoming drilling is complete our JORC resource across all tenements will be in the region of 750,000oz. One more round needed next year to get us to 1m oz!

No idea dnd but the share price would be a lot higher than 1.5p that’s for sure.

Rather than me dreaming a bit of realism is needed. The funds needed to prove up 6 IOCG targets is way beyond Cobras capabilities. If they were confident there were at least 2 IOCG targets after sticking a few pins in them, sell one off for £100m and use the funds to rapidly prove up all the tenements in and around Wudinna and cover all associated production costs and become a producer rather than an explorer.

We can but dream!

First video is what they were planning to do and their hopes/expectations regarding the IOCG targets.

https://secure.emincote.com/client/cobra/cobra001

Have a listen from 22mins until 26min 22secs then from 59mins 31secs until 1hr 42secs.

Second video yesterday’s presentation with what they’ve discovered with pathfinder elements.

https://secure.emincote.com/client/cobra/cobra002

Now have a listen from 15mins 30secs until 19mins 4secs.

It’s all coming together with the IOCG’s. The pathfinder elements were going to dictate whether they did any gravity surveys. If there were no pathfinder elements they wouldn’t do the surveys.

They are doing gravity surveys on all 6!!

Morning Dillon, if it’s any help Craig mentioned in an interview in October last year when pushed for a best case scenario he thought 2-3 years to prove up minimum of 1m oz and 3-5 years for going to production.

So one year on if that’s still true then another 1-2 years for 1m oz and 2-4 years for production.

If they hit an IOCG all bets are off as I’d imagine we’ll get bought out quick smart!

Sorry Craig has 7m shares so might take some time if it is him offloading!

Who do you think it is Carribean? Craig? I’m not too sure it is. He only had around 3m shares so wouldn’t take long to offload that amount. Maybe drillers and Craig?

Excellent news. IOCG targets still look promising. In the Capital Markets presentation our consultant geo did mention he hoped they would find elevated copper pathfinder levels which we have. Really looking forward to the gravity survey results when it’s completed which will hopefully validate the targets for RC drilling.

No worries Dan, we just need to ride it out and hope the drilling comes up trumps!

Hi Dan, just to confirm we’re not waiting on drilling results from the geo chem as such. The results are very small so we’re not going to get any assay results from the auger/aircore drilling.

Next meaningful assay results will be after the RC drilling so late November at the very earliest I’d imagine.

I just can’t understand the boards strategy over the last few months when it comes to marketing and not keeping us updated on the geo chem results. There was nothing stopping them posting on Twitter these are the assays we’ve had back from the geo chem analysis and therefore expect such and such to occur. I suppose when we get an operational announcement (whenever that may be!) the drilling programme will highlight their findings.

I really hope we don’t do this round of drilling then have another 7-8 months doing more geo chem before more drilling! That’s the cycle they need to break to gather and maintain momentum for the share price.

The potential is awesome Bitcoin but that’s the issue currently, potential. We’ll have a better idea after the next round of drilling and yes I could see the market valuing us at £4m market cap when we’re running out of funds and no news being released until end of October.

If it does I’m considering going all in but with a raise around the corner I’m reluctant to do so.

Hopefully it won’t come to that!!