Member Info for RichyRich1

Hate to say it but I can see this dropping down to 1.2p. Chart is horrendous and without any news to get us excited anytime soon who knows what the market will value a cash strapped explorer with 211,00 oz resource!?

It’s been soooo badly managed in terms of marketing this year it’s unbelievable!

Biggest worry here is even with decent/good drilling results the market knows Cobra will be out of cash come the end of the drilling campaign.

We might not get much of a jump on good results. Raise could be a lot lower than hoped and being restricted to maximum of 20% market cap that will hinder how fast we can ramp up drilling for the next round.

Management have dropped the ball this year!!

Here you go Burleigh, enjoy!

https://cobraplc.com/capital-markets-presentation-webcast-june-2021/

I watched the Capital Markets presentation again last night just to remind me what we had achieved and what we had to look forward to for 2021.

1hr 20mins long but worth a watch for any new investors who haven’t seen it before. It’s always wise to look at past RNS’s/presentations etc just to see what has been achieved since then and if the board are sticking to the plan and fulfilling on their promises/comments.

Overall the presentation is very positive (as you would expect!) and more or less everything they had planned is being completed although timescales slipping by a month or so.

What the board haven’t achieved is keeping us informed about the geo chem sampling other than we’ve completed X number of holes/metres drilled.

Craig categorically said even though they wouldn’t update the market on the geo chem results per se they would be regular updates keeping us informed what the analysis shows from the sample results. This most definitely hasn’t happened and with no other news we’re going to continue to drift.

So what’s on the horizon?

1. Gravity survey. Has the permit been granted and the survey underway yet? With any luck end of October this will have been completed. Will the board update us on the results of the survey or will they just tell us where they plan to drill (if anywhere depending on results) around the IOCG targets?

2. Drilling programme for Q4 2021 should be end of October.

3. Drilling commencing end October or beginning of November.

4. First assays due mid December.

5. 65% earn in completed end of 2021/early 2022.

6. Assay results throughout late December and January.

7. Raise funds.

If (big IF) drilling comes up trumps the raise will hopefully be around 3-4p.

In the meantime how low will it go as we drift on no news throughout October that’s the question!?

Company waiting on permit to be allowed to conduct gravity survey. Hopefully they’ll be given permission soon and can crack on with it.

I think this is what’s holding up any news being released about the drilling programme. Without results from the survey it’s impossible to determine if and where they will be drilling in and around the IOCG targets.

Roughly one week to complete the survey and another week to review results so looking unlikely drilling will commence end of October as planned unless they decide to stall drilling the IOCG targets?

Wouldn’t hold your breath Bitcoin.

6th September we’re informed drilling contract signed for drilling to commence mid October.

21st September informed drilling “expected” to commence late October.

Why the delay?

What’s really getting on my nerves just now is they’re missing a trick and not trying to create a buzz about Cobra and why are they not releasing the drilling programme for the 4,000m!?

The board need to get their finger out and do an online crash course on marketing! They’ve got a free to use marketing platform in Twitter. Why are they not posting regular updates on there? We know they’ve finished with the geo chem, why didn’t they Tweet about that? We know gravity survey is starting soon, has it already started? If it has why haven’t they posted a pic out in the field with the machine in situ? Might not be the most exciting image ever but it keeps us informed. They could post links to IOCG infographs, let us know the drill programme is being reviewed and released soon etc. There’s loads of non sensitive info they can release on Twitter regularly (at least once a week should be twice weekly) rather than having a missive hiatus in any news or updates. Next employee should be a marketing person!

Happy Birthday Andy and no worries for sharing.

If Vigo Consulting read these boards massive thank you for the prompt info they supplied after my enquiry....

“Thanks for reaching out.

The geochem drilling has been completed over all targets.

The interesting features Cobra speaks of relate to:

The inferred geology from their detailed magnetics where:

Magnetic highs sit proximal to a large granitic intrusion. This is comparative of the geological genesis of IOCG deposits and reflective of the geophysical interpretations of IOCG deposits on the eastern margin of the Gawler Craton.
Magnetic highs are offset by, and are proximal to, interpreted dilatational structures that likely coincide to the mesothermal Au mineralising event and IOCG formation within the Gawler Craton.

Regional (2km x 2km) gravity indicates that gravity highs are potentially offset from the magnetic anomalies. This is a key feature of IOCG deposits that is driven by the oxidation of magnetite by hydrothermal fluids. Whilst the current gravity data is encouraging it lacks sufficient detail to define drill targets and perform inversion modelling to determine target depths.

Previous regional calcrete sampling has demonstrated anomalous pathfinder chemistry supportive of IOCG mineralisation. The Saprolite geochem sampling will hopefully validate and demonstrate association with the geophysical anomalies.

We anticipate the gravity survey to take approximately one week (~230 stations at 250m spacings). It will take another week to process and interpret the data, providing sufficient time to scrutinise the targets before RC rig mobilisation.

Kind regards”

Not long to wait, fingers crossed!!

Morning Caribbean (and everyone else), I think the market is viewing Cobra as a cash strapped explorer quickly running out of funds well aware that a raise is on the cards which is exactly what we are. I think we are slightly undervalued despite having a 210,000oz JORC resource albeit mostly in the inferred category.

With any luck the next round of drilling might define that into indicated would should bump our valuation. I’m not surprised no value is being assigned to the other tenements and IOCG targets. I could claim I’ve got an IOCG target at the end of my garden (which is obviously ridiculous) but there’s nothing stopping me from saying so. Only until there’s proof either way can value be assigned.

I’m really hoping the drilling comes up trumps and adds considerable value before we need to raise cash for the next round of exploration but that’s the nature of the beast!

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!