Member Info for RichyRich1

Negotiations are still ongoing with Andromeda about the JV. Once finalised they will need to contribute anything from 25% to 50% depending on how quickly we progress to 75% ownership of Wudinna. I’m pretty certain come end of the year the Wudinna Joint Venture company will be created so we’ve got that to look forward to as well.

One of the questions we have submitted asks for more details on the JV. I can’t attend on the day but anyone who is listening in should definitely make sure the board are grilled about the JV as it’s potentially huge news for us going forward!

Realistic timescales?

June 2021 - mid July 2021 = aircore/geochem drilling
Mid July 2021 mid August 2021 = assays
Mid August 2021 - beginning October 2021 = analysis
Mid October 2021 - begin drilling campaign
Mid October 2021 - mid January 2022 = drilling
Mid December 2021 - end February 2022 = Drilling assays
May 2022 = updated JORC hopefully showing 1m oz!

Now at what point are they going to raise funds as they will need to and at what price!?

Ideally raise after JORC increase when SP could be around £30m (10p give or take) for 20% market cap (£6m) roughly 60m shares!?

Think this covers it!

1. News flow is important. Communications are not good enough. Can this be addressed? Regular updates and increased PR? It drives PI's Sentiment.

2. Once the 75% earn in has been achieved @ Wudinna what are your plans?

3. Although a little premature until the next stage results have been confirmed but do you consider a JV with our site partner will be an option or the natural next stage of our partnership?

4. Do we have tin in our tenements, could we target tin if confirmed could this be the way forward?

5. When will a replacement for Craig be confirmed?

6 We have a new licence area pending but are there any other planned acquisitions, or are we to be a one trick pony?

7. Is our Copper tenement worth investment, is any planned?

8. Finance..where are we with this have we enough to take to the 75% work in stage? Will a listing be required if so can current holders be given an opportunity to par take.

9 What are Cobra resources aiming to achieve, what is the game plan? With what we have currently and in the not too distant future?

10. Given the relative success of stage 1 drilling how confident are the board they can achieve a 1m oz resource?

11. How much longer do they think they need to achieve 1m oz, after stage 2 drilling, stage 3 drilling etc?

12. Given the 1m oz resource will be spread across multiple target areas do they foresee this as being an issue when it comes to mining?

13. Realistic timescale for starting production?

I’ve got lots of questions regarding the IOCG targets but I’m sure these will be answered after geo chem and stage 1 drilling results come through.

14. Will there be a lock in of CM stock for orderly market purposes?

15. Have we to date found any tin grades worth exploring and is the method of sampling we are using, the best method for discovering different elements?

16. Do we think we should get another broker involved alongside SI Cap?

Ok that’s the questions submitted to Ben at Vigo. Really hope Carribean gets in touch as I’m sure he’ll have quite a few he would like to be asked. Hope he’s ok!

This is what we have so far....have a read through just to make sure your question has been covered already to avoid duplication....

1. News flow is important. Communications are not good enough. Can this be addressed? Regular updates and increased PR? It drives PI's Sentiment.

2. Once the 75% earn in has been achieved @ Wudinna what are your plans?

3. Although a little premature until the next stage results have been confirmed but do you consider a JV with our site partner will be an option or the natural next stage of our partnership?

4. Do we have Tin in our tenements, could we target tin if confirmed could this be the way forward?

5. When will a replacement for Craig be confirmed?

6. We have a new licence area pending but are there any other planned acquisitions, or are we to be a one trick pony?

7. Is our Copper tenement worth investment, is any planned?

8. Finance..where are we with this have we enough to take to the 75% work in stage? Will a listing be required if so can current holders be given an opportunity to par take.

9. What are Cobra resources aiming to achieve, what is the game plan? With what we have currently and in the not too distant future?

1. Given the relative success of stage 1 drilling how confident are the board they can achieve a 1m oz resource?

2. How much longer do they think they need to achieve 1m oz, after stage 2 drilling, stage 3 drilling etc?

3. Given the 1m oz resource will be spread across multiple target areas do they foresee this as being an issue when it comes to mining?

4. Realistic timescale for starting production?

5. Can you give us more info on where we stand with the JV negotiations?

I’ve got lots of questions regarding the IOCG targets but I’m sure these will be answered after geo chem and stage 1 drilling results come through.

Carribean has gone awol on telegram so just in case he’s having problems/issues I’ll compile the questions investors want to ask and fire them over to Craig and Ben at Vigo. I’ve just received an email from Ben asking how the Q’s are coming along. They need them ASAP so they can review them before the presentation.

I’ll go back through the recent posts and put the questions together so last call for anything anyone would like to ask in advance?

Yeah I’ve submitted some. We should be getting loads of info from the presentation!

Looking forward to the presentation and hoping it will kick start the share price to head the right way!

Medium/long term not too concerned but short term Jesus who knows how low it will be taken. Need something left field (JV update/new CEO announcement) short ten to stop this rot. Nothing in the pipeline until drilling commences to bring a bit of excitement back but that won’t be until at least August. 17% spread doesn’t help either!!

Hale Energy Pty Ltd appears to be Thor Mining for the funding. 7am RNS so we definitely didn’t get any funding!

Not sure who the contractors are but I’d imagine if we had been awarded funding we would have had news by now. Just thought it was strange not seeing Thor’s name on the list.

Am I being daft but can’t see Thor mining on the list even though they have been awarded funding?

Oh well, that’s a shame. Third time lucky!? Round 3 will open up soon I’d imagine by which time we might have more data on the IOCG targets.

Why would anyone come onto a board and claim to buy X number of shares when they hadn’t?!

Not that I need to prove anything to you but if you can count past 2 try adding up the trades this morning between 8-8:30am and see if they come to around £10,500 you muppet! 5 buys, 1 for £2,700 (including fees) then 4 for £2,000 so yeah your right it’s more than 10k!

Sorry for hogging the board this morning but looks like ADI funding has been awarded to another company so not sure what to make of it that we haven’t had any news on our application!!

https://www.google.co.uk/amp/s/www.proactiveinvestors.com.au/companies/amp/news/948792

Leep1...I’d imagine we will have heard about ADI funding by then. Still showing as announce results early May so technically passed that timeline so really could be any day now.

It’s a bit of a poisoned chalice the ADI funding. If we get it then great shows those that decide who gets the funding look favourable on the boards strategy and gives confidence to the IOCG targets. If we don’t get it though....!? Not the end of the world but can see us taking a hit as some will question the IOCG potential.

I think that’s a good idea Carribean. So you compile the questions then once we think we have everything I can ping it over to Craig? I’m happy with that. I’ll email Craig now and with the suggestion of emailing him the questions in advance. Might speed things up on the day and minimise any duplicate Q’s

Morning Carribean on this glorious sunny day up in Scotland. Sure did, hopefully a good move but with a few years timescale confident this will be worth more than 2p by then! Hope you’re well?

Should we start compiling a list of questions for the presentation so we can get pretty much everything covered all of us on here would like to know?

Unfortunately I won’t be able to watch it on the day due to work commitments which I’m gutted about but hopefully it will be recorded and feedback will be posted on here.

My questions...

1. Given the relative success of stage 1 drilling how confident are the board they can achieve a 1m oz resource?

2. How much longer do they think they need to achieve 1m oz, after stage 2 drilling, stage 3 drilling etc?

3. Given the 1m oz resource will be spread across multiple target areas do they foresee this as being an issue when it comes to mining?

4. Realistic timescale for starting production?

I’ve got lots of questions regarding the IOCG targets but I’m sure these will be answered after geo chem and stage 1 drilling results come through.

Anyone else like to add to the list?

Might regret this but topped up another £10k to take holding just over 2m. Buy price just over 2p.

Very much looking forward to the presentation in June!