Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Not being sarcastic. If they’re following the timescales given in the investor snapshot then there’s no more drilling until Q3 2022.
https://mobile.twitter.com/Cobra_Resources/status/1455828977747124224/photo/1
Wouldn’t hold your breath on the JV with Andromeda. If they were really interested they would have signed one by now.
Looking forward to drilling and gravity survey results next few weeks. We better hope they’re good as the board need to raise funds sooner than later!!
Shame we couldn’t get one hole into Benaud. So that’s it for drilling until Q3 2022!?
Would be nice to get an update on Monday. Drilling at Clarke should be complete by now (estimated 2 weeks from 4th November) and gravity survey results “within 3 weeks” from 8th November.
If not this Monday certainly the following Monday!
I’m a bit more cynical Bitcoin, yes skin in the game but not exactly funds from his own pocket going into the company. Cobra raises money and puts pretty much all of it into exploration, we hit an important milestone of 65% ownership and David Clarke gets another 36m shares diluting us by almost 10%! Would have been nice to see him increase his holdings by buying another 10m shares on the open markets and putting some of “his skin” in the game. An agreement is an agreement at the end of the day. Wonder how many more he’ll get when we get to 75% ownership and Lady Alice Mines are entitled to another 7% of share issue when we hit 750,000oz! Not bad for those that an get it without having to pay for it!
Well that’s been well timed just before gravity survey completion and drilling results. Think David Clarke is going to do very well from Cobra!
Are the MMs insisting on keeping the ask at 2.2 and sell at 1.8!? It’s almost like they don’t want to create a market at all for Cobra. No ones going to buy with a 22% spread and most holders are locked in for the gravity survey and drilling results so unlikely to get many selling at such a critical time for Cobra.
If it is a case of MMs not having any shares on their books and both the gravity survey and drilling comes good can see this moving north rapidly! Only got about two more weeks to find out the IOCG survey results IF the board decide to share them!
I’m guessing the 1.99p are actually buys? Does anyone know what the real spread is please? Thanks
What’s with the 22% spread!! MMs killing any trading.
Hey Dillon, first set of drilling results should trickle through around Christmas. Mid to end of January should have all the results back by then.
IOCG gravity surveys end of November if they decide to release the results of the surveys!!
Couple of things from the slide, IOCG 4-5 next year. Where’s IOCG 6 that was mentioned in the presentation that looked promising?
After this round of drilling no more RC drilling until Q3 2022!
Posted on Twitter. Hmm!!?
https://secureservercdn.net/160.153.137.14/w32.3eb.myftpupload.com/wp-content/uploads/2021/11/Company-teaser_vFINAL.pdf
Wonder if there has been a delay to commencing drilling? I’ll try find out if they have started drilling although I’m sure we would have had news if they had and if they intend to release a plan showing where they intend to drill. Keep you all posted if I get a reply.
Really thought we’d get a drilling commenced RNS this morning but hey ho.
On the 12th October Rupert stated gravity surveys over IOCG targets 1-3 would be completed in 3-6 weeks. 3 weeks is tomorrow so you never know we might get a bumper RNS tomorrow with gravity survey results alongside drilling commenced!
Very surprised we’ve not had any indication of the drilling plan so far.
Pressure building! Are we about to pop upwards!?
Calls for interest 26th November with closing date 19th December. Could be perfect timing as the gravity survey results for IOCG’s 1-3 will have been completed by then.
Cobra will be in a much better position for successful funding this time round now they’ve got highly anomalous copper & elevated pathfinders and hopefully positive results from gravity survey’s by the closing date.
I’ll try find out if the board intends to pop in an application.
https://www.energymining.sa.gov.au/minerals/about_us/initiatives/accelerated_discovery_initiative
Hi Burleigh, almost every company exploring in Australia that has potential gets compared to being the next GGP. IF Cobra strike an IOCG that will dwarf Greatland’s discovery at Havieron so I’d imagine a £200m market cap would be conservative!
It will take a lot of drilling to prove up but I also think Andromeda will happily commit to a JV if there’s even a sniff of an IOCG and who knows what other companies might be interested in tagging along for the ride.
Just to be realistic on the flip side all the gravity surveys could come back not quite as promising as first hoped then we’ll be a small explorer looking to prove up 1/2/3m oz on their tenements. Not to be dismissed especially as we could be producing in 2-4 years from now we just wouldn’t have the same explosive growth as discovering an IOCG.
That’s my take, hopes and dreams could be way off the mark.
Let’s say for arguments sake Cobra has 500m shares in issue by this time next year, fund raising due soon, warrants if taken up, 7% of issued shares to Lady Alice after 750,000oz confirmed etc.
This is massively speculative and a huge ramp but if one gravity survey points to an IOCG followed up with drilling confirming it is indeed looking likely I can see a £200m market cap easily. Seems far fetched when we’re sitting on a £6m market cap currently but the board have stressed multiple times how transformative an IOCG discovery would be for Cobra.
500m shares with £200m market cap so 40p per share!
What if they unearth two IOCG’s and prove up more than 1m oz on the other tenements!?
Having enough funds to drill 2 IOCG targets is going to be the issue as diamond drilling is expensive.
The future is looking very bright indeed for Cobra but it’s all in the drilling and very speculative at the moment.
....from Cobra regarding copper price increasing with the following info...
“Cobra is advancing exploration of its IOCG targets at Wudinna after highly anomalous copper & elevated pathfinders were found in recent pathfinder drilling.”
Get cracking with those surveys! The suspense is killing me. Does anyone know where IOCG 6 is? Never seen it referred to until the last presentation.
I’ve been thinking about the potential JV with Andromeda. Craig mentioned that Cobra lawyers were looking into the best way to structure the JV that might present opportunities due to changes in accounting practices and to minimise capital gains or something like that.
I’m sure that’s true there’s been a change in accounting practice but I think it’s a bit of a smoke screen.
I think Andromeda are/were happy for us to continue increasing ownership in Wudinna as there’s not really been anything substantial found as yet.
The next round of drilling and especially the gravity surveys will be the game changer. I reckon there’s a few peeps at Andromeda keeping a very close eye on Cobra over the next few months. If Clarke shows promise with drilling results and IF any of the IOCG targets pass the initial gravity surveys showing they might actually be IOCG’s Andromeda will jump on board quick smart and sign off on the JV.
I don’t think Andromeda are interested in stumping up 35% of exploration costs to prove up 1m oz gold and will allow Cobra to proceed to 75% but will be more than happy to JV on an IOCG.
If any of the 6 targets pass the survey inspection Andromeda might wait until there’s been a couple of holes drilled to confirm it is mineralised at a reasonable depth.
So I think the JV might be done and dusted by mid 2022 depending on the above results.
Just my musings, could be way off the mark!
What’s with the 20% spread!?