Member Info for RichyRich1

I’d like to think the board restructure was always part of the plan but also think it’s being fast tracked due to Cornerstones call to oust the board.

Good news. We won’t see 10p but should get a little boost. 10p not out of the question if we prove up 1m oz by year end.

Unfortunately I’m not going to be able to tune in for next weeks webinar.

I would really appreciate if someone could ask a couple of questions for me?

1. How concerned is NM with regards to Cornerstones attempt to oust the board?

2. Can he clarify once and for all what Cornerstone can and can’t do with Ensa if Cornerstone get bought over?

Just to get a feel for what we are all thinking needs answered during the webinar what other questions do others have?

If the PFS values Alpala at around £5B do you really think NM would accept an offer for £1.1B!?

He wouldn’t but any new board enforced by Cornerstone certainly would which is a worry!

https://cobraplc.com/

Same info but better layout, clean and slick. Getting ready for the next stage of the companies development and hopefully more attention being brought to the site for potential investors with the upcoming drilling programme.

Think we’ll drift below 2p as no news due until the drilling commences.

Tried posting this already this morning but not showing, hmm!

Thanks for your e-mail. I would refer you to two recent announcements:

17th August - Hagstrom Drilling Equity Agreement Update – where we stated that the Equity Agreement with Hagstrom is for a total of 10,000m of RC Drilling, with each drilling programme subject to a specific contract under the terms specified in the Equity Agreement.
24th August - Wudinna Drilling Program Update – where we announced that we would be completing 6,750m of RC drilling this year under a drilling contract with Hagstrom.

The remaining metres will be available to Cobra for future drilling under a specific drilling contract(s).

Just received this from Craig. Nothing price sensitive so no issues with sharing here I’d imagine.

Thanks for your e-mail. I would refer you to two recent announcements:

“17th August - Hagstrom Drilling Equity Agreement Update – where we stated that the Equity Agreement with Hagstrom is for a total of 10,000m of RC Drilling, with each drilling programme subject to a specific contract under the terms specified in the Equity Agreement.

24th August - Wudinna Drilling Program Update – where we announced that we would be completing 6,750m of RC drilling this year under a drilling contract with Hagstrom.

The remaining metres will be available to Cobra for future drilling under a specific drilling contract(s).”

With any luck the remaining 3250m will be for IOCG hunting with ADI funding help!

Thanks isas, I just used the generic info@ so might try CM’s direct email.

I’ve emailed the company asking about the discrepancy in the 10,000m but only 6,500m drilling distance mentioned in the last news release.

Had no reply yet, little disappointed but I’ll give it another couple of days before questioning correspondence (or lack of!) with private investors.

I own my own company and never allow 24 hours to pass before sending some sort of reply even if that’s I’ll get back to you ASAP.

I’m not on twitter but maybe if someone is they could pop up a question on Twitter asking about the discrepancy as they’re active on that?

I’m sure I’ll get accused of all sorts with this comment but here goes. NPV for Alpala $4.4B (£3.3B) based on PEA. Usually 15% assigned value at this stage so roughly £500m. Current market cap almost bang on £500m. So maybe we’re currently valued accurately more or less?

If (big speculative IF) the PFS comes in around £5B and a 25% value is assigned for PFS stage market cap around £1.25B should give us an SP around 60p?

We only own 85% of Alpala so the above calculations should be altered accordingly so it could be argued we’re currently overvalued?

I think a big problem we have (other than the lack of news but they can’t release what they don’t have or do have according to Cornerstone!) as investors we look to the future trying to assign a valuation to events that have yet to take place.

If it all goes to plan we should start to see an increase in valuation with minimal dilution for the next 18 months.

The only way this will be sold for 50p is if Cornerstone get their way to oust the current board. They’d snapped up a 50p offer instantly I’d imagine.

We’re fully funded to DFS and money in the bank for regional drilling. As we progress through the feasibility studies more and more value will be assigned to the company minimising risk for the project.

I’d be gutted if this was sold out for around 50p and would hope that all investors give NM time to complete the feasibility studies!

I’m confident they can get to the 1m oz target with an SP around 8p hopefully by year end but certainly by Q1 2021. I’m hopeful they’ll discover an IOCG deposit but got to be realistic that these types of deposits are extremely difficult to find! All in all a 2m oz resource by year end 2021 and an SP around 11p taking the inevitable dilution en-route into account not that unrealistic. 500% increase in 18 months not to be scoffed at. Total speculation and the drill bit will confirm one way or another.

If and it’s a mighty big IF they do manage to initially begin to unearth a massive deposit CM won’t hesitate to JV with a major as he’s already stated on one of his webinars.

Impossible to say Kirky but a lot higher than 2p! Will take numerous drill holes to confirm it was actually an IOCG deposit. If you take a look at the company website the IOCG clusters appear to be near Laker...

Take a look at page 2 of this link....

https://www.cobraplc.com/media/attachments/2020/07/08/080720-cobr---rns-reach---stage-3-geochemistry-drilling-programme-pdf-version.pdf

Phase 1 drilling includes Laker so fingers crossed the IOCG targets close to Laker might be revealed/hinted at.

What I can’t quite get my head around is the accelerated drilling programme to 10,000m but the most recent news release only states 6,500m!

If there’s news we have the ADI funding and the other 3,500m drilling is targeting an IOCG deposit then it’s game on!

Over all positive update, now we have a better idea what’s planned. Shame the drilling won’t commence until late September now. Without trying to sound like an Eeyore how could they not have released that on Friday!

I hope we get to 4p on good news Presto and you might reconsider selling out then.

If you don’t mind me asking what’s your gripe with the BOD and how did you get warrants?

Unlikely but maybe they got the results back from phase 3 geo samples and now they’re adjusting the drilling programme accordingly?

I agree to a certain extent Kiwi but you don’t issue news on a Monday saying we’ll update the market on the drilling plan by the end of the week then don’t deliver it. If CM thought there could have been any delay in the plan (don’t see how when he was so confident he was ready to drill and knows where the drilling will be) he should have not mentioned anything about updating the market by a given timescale. It’s bad crack. I know it will come when it comes but management 101 under promise and over deliver not the other way around!

Was hoping to wake up to RNS with detailed drilling plan this morning. Hopefully it will drop at some point today.

Good to hear they are accelerating the drilling programme, must be confident. With any luck before the drilling commences we’ll get details of the stage 3 geo-chem results and maybe ADI funding news.

Will be very interesting to see where they plan to drill and if any of the IOCG targets are included in the first phase of drilling.

Could be very rewarding next few months!

Good luck all.

What gripes do you have with the management Presto? Don’t think they’ve done much wrong to date. The next four months once the drills get turning will prove whether they’ve been right or wrong with their pathfinder strategy. You might be kicking yourself by year end when the drilling results start drip feeding through!

Tricky question and any replies will sound like a crazy ramp when we consider currently priced at 2.4p with a £4m market cap.

If we prove up 1m oz resource by year end then I’m estimating conservative £20m market cap at 1% using £2,000 gold price in ground value. I know others use a higher in ground valuation but I like to err on caution. I’d also imagine the recent raise conversion loan will have been activated so using 250m shares issued that gives us 8p per share.

If we can prove up 2m oz by end of 2021 £40m market cap by which time the 100m warrants at 2p will be in issue so 350m shares. Market cap of £40m so 11p per share.

If we hit an IOCG deposit in the next 18 months (one drill hole won’t confirm this is the case so will need multiple holes drilled) then it’s impossible to give a valuation but £200 market cap isn’t out of the question with 350m shares in issue giving 57p.

There’s going to be heavy dilution with the convertible loans and the 100m warrants at 2p but the funds raised should allow to drill extensively and add considerable value to the company.

It states on the company website....

“ An IOCG discovery would transform the Company into a major mining house”

And that’s what I’m holding out for!

Good luck all!