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Morning, what’s everyone’s expectations on JORC figure if drilling is positive at Clarke? I’m going for a tentative 200,000oz. We still don’t know what the drilling plan is but I’m hoping after the upcoming drilling is complete our JORC resource across all tenements will be in the region of 750,000oz. One more round needed next year to get us to 1m oz!
No idea dnd but the share price would be a lot higher than 1.5p that’s for sure.
Rather than me dreaming a bit of realism is needed. The funds needed to prove up 6 IOCG targets is way beyond Cobras capabilities. If they were confident there were at least 2 IOCG targets after sticking a few pins in them, sell one off for £100m and use the funds to rapidly prove up all the tenements in and around Wudinna and cover all associated production costs and become a producer rather than an explorer.
We can but dream!
First video is what they were planning to do and their hopes/expectations regarding the IOCG targets.
https://secure.emincote.com/client/cobra/cobra001
Have a listen from 22mins until 26min 22secs then from 59mins 31secs until 1hr 42secs.
Second video yesterday’s presentation with what they’ve discovered with pathfinder elements.
https://secure.emincote.com/client/cobra/cobra002
Now have a listen from 15mins 30secs until 19mins 4secs.
It’s all coming together with the IOCG’s. The pathfinder elements were going to dictate whether they did any gravity surveys. If there were no pathfinder elements they wouldn’t do the surveys.
They are doing gravity surveys on all 6!!
Morning Dillon, if it’s any help Craig mentioned in an interview in October last year when pushed for a best case scenario he thought 2-3 years to prove up minimum of 1m oz and 3-5 years for going to production.
So one year on if that’s still true then another 1-2 years for 1m oz and 2-4 years for production.
If they hit an IOCG all bets are off as I’d imagine we’ll get bought out quick smart!
Sorry Craig has 7m shares so might take some time if it is him offloading!
Who do you think it is Carribean? Craig? I’m not too sure it is. He only had around 3m shares so wouldn’t take long to offload that amount. Maybe drillers and Craig?
Excellent news. IOCG targets still look promising. In the Capital Markets presentation our consultant geo did mention he hoped they would find elevated copper pathfinder levels which we have. Really looking forward to the gravity survey results when it’s completed which will hopefully validate the targets for RC drilling.
No worries Dan, we just need to ride it out and hope the drilling comes up trumps!
Hi Dan, just to confirm we’re not waiting on drilling results from the geo chem as such. The results are very small so we’re not going to get any assay results from the auger/aircore drilling.
Next meaningful assay results will be after the RC drilling so late November at the very earliest I’d imagine.
I just can’t understand the boards strategy over the last few months when it comes to marketing and not keeping us updated on the geo chem results. There was nothing stopping them posting on Twitter these are the assays we’ve had back from the geo chem analysis and therefore expect such and such to occur. I suppose when we get an operational announcement (whenever that may be!) the drilling programme will highlight their findings.
I really hope we don’t do this round of drilling then have another 7-8 months doing more geo chem before more drilling! That’s the cycle they need to break to gather and maintain momentum for the share price.
The potential is awesome Bitcoin but that’s the issue currently, potential. We’ll have a better idea after the next round of drilling and yes I could see the market valuing us at £4m market cap when we’re running out of funds and no news being released until end of October.
If it does I’m considering going all in but with a raise around the corner I’m reluctant to do so.
Hopefully it won’t come to that!!
Hate to say it but I can see this dropping down to 1.2p. Chart is horrendous and without any news to get us excited anytime soon who knows what the market will value a cash strapped explorer with 211,00 oz resource!?
It’s been soooo badly managed in terms of marketing this year it’s unbelievable!
Biggest worry here is even with decent/good drilling results the market knows Cobra will be out of cash come the end of the drilling campaign.
We might not get much of a jump on good results. Raise could be a lot lower than hoped and being restricted to maximum of 20% market cap that will hinder how fast we can ramp up drilling for the next round.
Management have dropped the ball this year!!
Here you go Burleigh, enjoy!
https://cobraplc.com/capital-markets-presentation-webcast-june-2021/
I watched the Capital Markets presentation again last night just to remind me what we had achieved and what we had to look forward to for 2021.
1hr 20mins long but worth a watch for any new investors who haven’t seen it before. It’s always wise to look at past RNS’s/presentations etc just to see what has been achieved since then and if the board are sticking to the plan and fulfilling on their promises/comments.
Overall the presentation is very positive (as you would expect!) and more or less everything they had planned is being completed although timescales slipping by a month or so.
What the board haven’t achieved is keeping us informed about the geo chem sampling other than we’ve completed X number of holes/metres drilled.
Craig categorically said even though they wouldn’t update the market on the geo chem results per se they would be regular updates keeping us informed what the analysis shows from the sample results. This most definitely hasn’t happened and with no other news we’re going to continue to drift.
So what’s on the horizon?
1. Gravity survey. Has the permit been granted and the survey underway yet? With any luck end of October this will have been completed. Will the board update us on the results of the survey or will they just tell us where they plan to drill (if anywhere depending on results) around the IOCG targets?
2. Drilling programme for Q4 2021 should be end of October.
3. Drilling commencing end October or beginning of November.
4. First assays due mid December.
5. 65% earn in completed end of 2021/early 2022.
6. Assay results throughout late December and January.
7. Raise funds.
If (big IF) drilling comes up trumps the raise will hopefully be around 3-4p.
In the meantime how low will it go as we drift on no news throughout October that’s the question!?
Company waiting on permit to be allowed to conduct gravity survey. Hopefully they’ll be given permission soon and can crack on with it.
I think this is what’s holding up any news being released about the drilling programme. Without results from the survey it’s impossible to determine if and where they will be drilling in and around the IOCG targets.
Roughly one week to complete the survey and another week to review results so looking unlikely drilling will commence end of October as planned unless they decide to stall drilling the IOCG targets?
Wouldn’t hold your breath Bitcoin.
6th September we’re informed drilling contract signed for drilling to commence mid October.
21st September informed drilling “expected” to commence late October.
Why the delay?
What’s really getting on my nerves just now is they’re missing a trick and not trying to create a buzz about Cobra and why are they not releasing the drilling programme for the 4,000m!?
The board need to get their finger out and do an online crash course on marketing! They’ve got a free to use marketing platform in Twitter. Why are they not posting regular updates on there? We know they’ve finished with the geo chem, why didn’t they Tweet about that? We know gravity survey is starting soon, has it already started? If it has why haven’t they posted a pic out in the field with the machine in situ? Might not be the most exciting image ever but it keeps us informed. They could post links to IOCG infographs, let us know the drill programme is being reviewed and released soon etc. There’s loads of non sensitive info they can release on Twitter regularly (at least once a week should be twice weekly) rather than having a missive hiatus in any news or updates. Next employee should be a marketing person!
Happy Birthday Andy and no worries for sharing.
If Vigo Consulting read these boards massive thank you for the prompt info they supplied after my enquiry....
“Thanks for reaching out.
The geochem drilling has been completed over all targets.
The interesting features Cobra speaks of relate to:
The inferred geology from their detailed magnetics where:
Magnetic highs sit proximal to a large granitic intrusion. This is comparative of the geological genesis of IOCG deposits and reflective of the geophysical interpretations of IOCG deposits on the eastern margin of the Gawler Craton.
Magnetic highs are offset by, and are proximal to, interpreted dilatational structures that likely coincide to the mesothermal Au mineralising event and IOCG formation within the Gawler Craton.
Regional (2km x 2km) gravity indicates that gravity highs are potentially offset from the magnetic anomalies. This is a key feature of IOCG deposits that is driven by the oxidation of magnetite by hydrothermal fluids. Whilst the current gravity data is encouraging it lacks sufficient detail to define drill targets and perform inversion modelling to determine target depths.
Previous regional calcrete sampling has demonstrated anomalous pathfinder chemistry supportive of IOCG mineralisation. The Saprolite geochem sampling will hopefully validate and demonstrate association with the geophysical anomalies.
We anticipate the gravity survey to take approximately one week (~230 stations at 250m spacings). It will take another week to process and interpret the data, providing sufficient time to scrutinise the targets before RC rig mobilisation.
Kind regards”
Not long to wait, fingers crossed!!
Morning Caribbean (and everyone else), I think the market is viewing Cobra as a cash strapped explorer quickly running out of funds well aware that a raise is on the cards which is exactly what we are. I think we are slightly undervalued despite having a 210,000oz JORC resource albeit mostly in the inferred category.
With any luck the next round of drilling might define that into indicated would should bump our valuation. I’m not surprised no value is being assigned to the other tenements and IOCG targets. I could claim I’ve got an IOCG target at the end of my garden (which is obviously ridiculous) but there’s nothing stopping me from saying so. Only until there’s proof either way can value be assigned.
I’m really hoping the drilling comes up trumps and adds considerable value before we need to raise cash for the next round of exploration but that’s the nature of the beast!