Member Info for RichyRich1

Taken from the Mining News.net article recently...

“Cobra will work on an updated geological interpretation of the resources, the potential to define a resource at Clarke and plan the next exploration campaign.”

“Another hole returned 1.71% copper, the highest copper hit at Wudinna to date, associated with a gold hit of 33.6gpt.”

"There's not real reason this part of the Gawler couldn't contain IOCG mineralisation, even though it's not known for it," Moulton said.

If you’re reading this any chance you could contact Craig and the team and see if they would be interested in giving an update?

Lack of news is getting a bit silly now. Surely they could have started drilling Larwood/Laker in January using the remaining 3,400m from stage 1?

At this rate we’ll be lucky if we start drilling until H2 2021!

Whilst we wait for an update here’s a list of the companies that received round 1 ADI funding;

https://www.premier.sa.gov.au/news/media-releases/news/successful-exploration-applicants-announced

Interestingly our JV partner Andromeda got some funding.

Hopefully our name will be on the next update on the 31st March for using pathfinders analysis to unearth an IOCG discovery in the Wudinna Gold Project!

Grab a cuppa and take the time to review this interview from September last year. Always good to look back on what was promised to see how we arrived at the present to push us towards the future. 2021 is going to be a very interesting year for Cobra!

https://m.youtube.com/watch?v=Dk_1svtWBm4

Almost £80k in the kitty from the last two warrants. Only another £40k to go then that’s Craig’s salary covered for the year!

I’m a little surprised we’ve not had any updates for a while. You would think the board would want the momentum to continue into 2021 and be ready to go with the drilling programme for this year. Mid February and none the wiser what’s next.

So what do we think the next update will be?

1. JV confirmation with Andromeda
2. Updated resource definition after stage 1 drilling
3. Drilling commenced
4. 2021 drilling programme
5. Other

I’m pretty certain FN deal is a royalty for Cascabel and not just Alpala so extra £50m could be drawn down and used for Aguinaga/Moran/Blanca/Tanda Etc. It’s a stonking deal for FN!

With all due respect Riaz you don’t know what you’re talking about. June last year market cap was £3m we’re now at £11m and fully funded until the end of 2021 with a significant stage 2 drilling programme to be announced soon.

5x5....I’ve been in SolGold from the Solomon Gold days so a long long long term holder! This is the Cobra forum so I’ll keep it brief. One of the top 10 undeveloped resources in the world. CEO Nick Mather just stepped down (given the boot!?) lots of uncertainty other than the amount of Gold/Copper/Silver at Alpala and lots more to come at other regional projects. Do your own research as there’s a lot of uncertainty at the moment given elections and the PFS!

I’ve been digging around the latest prospectus to try find out where we are at with warrants and options.

As far as I can tell the only outstanding warrants are those issued with the CLN placing last year.

There’s 67m or so at 3p that can be accelerated when the SP hits 4.5p for over 5 days. I don’t think it will be long before we are over 4.5p. I just hope this time round they don’t give the warrant holders 30 days to take them up!

There’s directors options when the market cap hits £10m or 1m oz resource whichever comes sooner so I’d imagine these options will be taken up soon as we now have a market cap higher than £10m.

So if all the warrants are accelerated this year that’s another £1.8m in the kitty and roughly 400m shares in issue.

I don’t foresee any need to fund raise this year or early into 2022 if all the warrants are taken up.

We currently have 50% JV earn in of the project and need so spend another £1.2m in the next 3 years for 75%. We have £1.2m in the kitty as things stand so with current funds and if all the warrants are taken up we’ll have 75% of the project and around £1.8 in the bank having spent another £1.2m on drilling the project.

My point!? Well funded with minimal dilution and 75% of the project by early 2022!

I dunno, that’s why I was asking. Given the spread at the time could be a sell and the reason for the afternoon drop?

Was it definitely a buy?

Hopefully we can hold onto our £10m market cap for some time to encourage the directors to take up their £10m mc options.

Apologies if already posted and thanks to wrtmf on Advn for posting a link to the article. Good find wrtmf!

https://www.proactiveinvestors.co.uk/companies/news/940131/cobra-resources-has-attractive-australian-gold-projects-940131.html

Really need news! In the meantime does anyone have a link to the prospectus? I can’t seem to find it on the Cobra website. Thanks in advance

So given the news on Friday we have to assume that BHP/NCM were oblivious to the delay in the PFS and that it appears Alpala might not be economical!? I’m sorry but there’s no way they wouldn’t be aware of the developments in the last 6 months so why were they so keen on a placing rather than SolGold getting funding from FN?

I keep asking myself why did the Chinese investment firm happily invest at 32p!? They surely would have known about any potential issues with the PFS before stumping up $5m and wanting more if reports are to be believed. Something is fishy here!

“So far, 14 highly mineralised targets throughout Ecuador have been assessed, several of which the Company believes have the potential, subject to resource definition and feasibility, to be developed in close succession or even on a more accelerated basis compared to Alpala.”

It’s always been part of the plan to find an easier deposit and develop that first. Can’t remember the exact wordings in many many previous news releases but they always hinted at somewhere could be developed faster than Alpala. Only problem is up until now that elusive easier deposit hasn’t been found yet!