Member Info for RichyRich1

Given the nature of exploration and the need to raise funds does the board have any rough idea at what price they would hope to raise more funds for future drilling and exploration, 2p, 5p, 10p?!

Difficult to say but gold price of £1,700 at 1% in ground value (very rough valuation obviously) gives SP of 34p with no dilution which will be inevitable to prove up the resource. Just goes to show the potential here though.

I’m certainly not the best investor ever so please take my tip with a pinch of salt and do your own research but I think Cobra resources is worth a punt currently.

Franco Nevada new investor for 1% on Monday maybe!?

Wonder if we’ll get another webinar soon to explain the rationale/try to appease share holders with the latest raise!!

Nick Mather is resident in Australia so he will also not be allowed to participate!

Still not seen any comments directly from BHP about how SolGold are raising funds! I think the journalist is assuming Newcrests displeasure is also felt by BHP? Pretty obvious NC is well and truly in bed with Cornerstone and will help in any way they can to help Cornerstone to oust Nick Mather!

Although better than nothing 14,000m planned drilling at the other tenements isn’t very much. Now we could do with a new drilling plan telling us where is going to be drilled and with how many rigs. I’d imagine 1 max 2 rigs on 3 sites? Given the depth of Alpala the funds would give us maybe 7-10 holes. It’s a start I suppose. Could the plan be to get Alpala to DFS then sell for close to NAV? NM however says the tenements won’t be sold off individually so probably not. If that’s the case then another raise in 12 months time at hopefully a considerably higher SP!

Maybe this is why Cornerstone have been selling their shares so they can take part in the fund raising at a lower price than what they sold them for?

Little bit disingenuous of NM with this fund raising. Only two weeks ago (or whenever the first webinar was) saying “hope you’re all on board” which was encouraging people to invest at that time then two weeks later a fund raise at 21p!! Also explains why my question regarding funds from Franco deal being used out with Cascabel wasn’t answered as they were working on this raise (or they just couldn’t be arsed replying). We needed the funds for regional exploration but I’m not too happy how this has been dealt with. Hey ho, get those drills spinning and generate some excitement with a new discovery!

Wish I could folks! Next 6 months will be make or break for this company. Don’t want to get too carried away and not ramping but there is potential for transformational news. £2.8m market cap, 186m shares in issue and an experienced MD in Craig Moulton with strong connections in the industry. Well worth a punt. Looking forward to the webinar next week but more importantly the drilling commencing!

Just managed to get the buy now! £4,000 at 1.545! GLA

Still can’t buy! Think one of the problems is there’s not many shares in free float available to buy. Cobras a gamble but after doing my research optimistic it’s got potential. If (and it’s a big IF) they do discover an IOGC deposit can you imagine what that will do to the marker cap of this company with only 168m share in issue. They’re going to need to raise £m’s for drilling but if the first round of drilling in H2 this year even hints there is this style of deposit blue skies indeed. Bring on the drilling and fingers crossed.

I’ve emailed multiple people in the company thanking them for their time for the webinars and asking if they can clarify if the funds from Franco can be used for tenements out with Cascabel. Been over a week now and had no reply from anyone which I’m a little hacked off about. It’s not exactly market sensitive info so no reason not to reply.

I’m not knocking GGP but considering what they actually will own of Havieron with the Newcrest deal how in the hell is SolGold got almost an equal MC considering what we have compared to GGP!

This is what we need to know, please feel free to add to the list then someone (I’m happy to do it) can fire an email off to the company to see if they can clarify the questions and also to see how responsive they are to PI’s communication!

1. Drilling depth (300m per hole initially?)
2. Drilling duration per hole (10 days at 30m per day?)
3. Cost per metre ($200?)
4. Number of rigs (Hopefully more than 1!)
5. Drilling contractor agreement. Fixed cost (point 3.)
6. 30% equity agreement with drilling contractor. Issued when and at what price? (That’s another 58m shares to be issued in the near future probably before drilling commences)
7. Duration for assay results (2 weeks?)
8. Which areas to be drilled (multiple at the same time with a rig each hopefully)

Any other points needing addressed?

I’d imagine the reply would be something along the lines of everything will be confirmed when the drilling plan is released but there’s no market sensitive info as such with the above questions!

It was mentioned in the Proactive interview that CM was still hopeful they would start drilling early Q3 so with any luck sometime in June we’ll get a drilling plan (completion of the stage 3 exploration programme end of June?) and drilling commences in July. Failing that August for the start of drilling. At this stage Cobra is a total punt but like all explorers with lots of potential until the drills confirm whether the areas are mineralised or not. Now is the time to build a sizeable position but it’s still a gamble. News in the next couple of weeks about funding from the government would be positive, stage 3 completion end of June would be positive, drilling commences positive. Given the market cap is only £2.8m and only 186m shares in issue if they do find a sizeable mineralised new area and can extend the existing resource to 1m oz at open pit then a market cap of £40m is not out of the question! That’s 14x existing market cap! If the drills come out blank however.....and that’s the risk reward!

9) drilling commences in another regional tenement.

I know we’re waiting on the drilling plan for H2 2020 but does anyone have a rough idea what to expect? Drilling depth, amount of holes, cost of drilling etc? If we assume the cost is $200 per metre (rough average) at a depth of 300m (open pit) then with the latest placing if all the money was used for drilling each hole would cost £46,000 for 13 holes. Depending on results of the drilling another placing/raising funds would be needed but at a higher SP hopefully!

Interesting Frog but I don’t believe for a second there will be a rights issue for $1.8B. If they take up Franco’s offer for a $1B (at what cost!?) borrow $1B (at what cost!?) then they “only” need €800m! Off take agreements, smelters, traders to fund $400m (totally speculative and at what cost!?) then rights issue at £1 a share for £400m and only another 400m shares issues, bingo financed!