Member Info for Sufc100

African Security Analysis notes that Mali has entered a new phase of conflict during June, where armed groups are:

Expanding into south and west Mali, Controlling mobility and trade and Restricting humanitarian access. Running checkpoints and taxation systems.

This means the conflict is no longer limited to the north and centre — it is now national.

Out of suspension by end of June looks certain now.

Both bubblepoint and wg818 are very negative. They both use the same language and are the same person.

BP "this shower of sheite"

WG "to this shower of shix!"

I have inputted their last few post into AI and it's language analysis said 80% probability it's the same person.

"It's far from certain that the licence will be renewed." Laugable!

The available technical reports actually note that:

The field is in production.

The regulator has historically extended licences in similar situations.

The report identified numerous precedents where extensions were granted.

The regulator had indicated that licences are generally renewed where production is ongoing or there is a clear path to continued production.

No need to get bitter, this board has always been informative and pleasant. I guess when share prices drop people get defensive and reactive. I hope the situation in Mali improves and I will be back in then but the risk is just too great at the moment.

I have always been a supporter of Cora, however the situation is serious and investors need to take into account the serious political situation. It has happened before where new regimes have taken over mins Oxus gold is a good example. Think about your exposure and what you can afford to loose.

The UK Foreign, Commonwealth & Development Office (FCDO) advises against all travel to Mali. If you are a British national currently in Mali, their official instruction is that you should leave immediately by commercial flight if you judge it safe to do so.

​**Do not travel overland: The FCDO warns that attempting to leave Mali via borders or highways is incredibly dangerous due to Al-Qaeda-linked blockades and terrorist activity.

Please be careful with this share, I know it's a great prospect but I have seen this before where the future of mines can become very uncertain if new leaders come in.

Mali is generally viewed as less stable now than it was a few days ago, not more stable.

Over the last week, the country has seen one of its biggest security crises in years:

coordinated attacks by jihadist groups linked to al-Qaeda,

fighting involving Tuareg separatists,

attacks near and around the capital Bamako,

and the killing of the defence minister.

The government says the situation is “under control,” and the military leadership has been reorganised quickly, with junta leader Assimi Goïta taking over the defence ministry directly.

But most outside analysts and reporting suggest the broader trend is worsening rather than stabilising:

insurgent groups appear unusually coordinated,

some northern towns have reportedly fallen out of government control,

roads around Bamako have faced threats or partial blockades,

and there are concerns the violence could spread further regionally.

Compared with a few days ago specifically:

the immediate shock of the first attacks has passed,

the government has restored some order in parts of Bamako,

but the underlying security situation still appears highly fragile.

There are ongoing clashes, investigations into possible insider involvement, and fears of further attacks.

So the short answer is:

day-to-day panic in Bamako may be slightly lower than during the initial attacks,

but overall Mali is currently less stable than before the attacks began last week.

Mali is in a phase of advanced state failure, characterised by:

loss of territorial control

collapse of logistics and supply systems

coordinated multi‑front insurgency

leadership decapitation

reliance on failing foreign mercenary support

expanding conflict into the capital

This is not yet total collapse, because Bamako still functions and the junta remains in power — but the structural indicators show Mali is one major offensive away from systemic breakdown.

Summary for Today: Mali is effectively in a state of war on multiple fronts. The capital is under blockade, the military is reeling from the loss of its Defense Minister and key northern bases, and the junta is doubling down on internal security through arrests and power consolidation.

Recent diplomatic spats between the Malian junta and Algeria have led to accusations that Algiers is quietly facilitating the rebels' movements.

Ukrainian intelligence may have provided Tuareg rebels with drone technology and tactical training specifically to help them target Russian mercenaries

Sorry all I'm out until the situation in Mali stabilises. The government made a big mistake throwing out the French and UN in favour of Russians who are not effective. The government are very busy at the moment so I think the permit may be some time off.

The Company is advancing the permitting process with the Government of Mali such that having secured binding finance agreement to fully fund the mine development then transition into construction can happen as quickly as possible. In parallel, the Company continues to pursue value-enhancing opportunities across its portfolio and has identified largescale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.

Expected restructured news by 4th May?

"Company continues to make good progress on the legally binding documentation associated with its proposed financial restructuring. The Company is targeting completion and execution of the definitive agreements in the coming weeks."

Excellent news.

First Quarter 2026 Production, Operations, Corporate and Finance Update

· c.30% increase in production rates at Saltfleetby following completion of the workovers.

· Production from the Saltfleetby Field in the First Quarter of 2026 was 471 million standard cubic feet of natural gas and 10,180 barrels of gas condensate.

· Gas sales of 5.24 million therms were achieved in the Quarter from the Saltfleetby Field.

· Estimated revenues of £5.65m for the Quarter.

· Production uplift driven by successful completion of Saltfleetby workovers.

Lets hope some of the 3 million buy some tomorrow :-)

The section below is the important bit for Cora Gold and it puts them in an even better position than Toubani's agreement with Eagle Eye. I am guessing Bert has talked to the existing investors (and maybe outside investors) who are willing to stump up the £60 million when the permit is agreed.

"Cora retains the right to replace 50% of the Stream (US$60 million) with traditional senior debt for up to 240 days following approvals, enabling Cora to optimise the financing structure."

No reason we can't follow their trajectory over the next 12 months - puts Cora at 30p a share

What we need to remember Angus still has loads of gas left, the last report has 23.5 BCF of gas left as of December 2024.

That's 235,000,000 therms × £1.10 = £258,500,000.

Bubblepoint stated below, he forgot to mention the excellent foresight of the board to lock in hedges at £1.40, I wonder why?

"thing you MUST remember is that it WILL be back to typical prices just as FAST as it went up once they kiss & make up,... mark my words.. yes it is a "little" windfall for this incompetent & still driverless shower, but it still is not enough, it will pay all the bills and cover their Opex but for retail !!! NADA... it remains fully undermined !!!!"

2. The "Bear Case": Dilution and OverhangWhile the cash is good, the share price faces pressure from dilution.New Supply: The board just granted 28.15 million new options. If these are eventually exercised, they will create new shares, meaning existing shareholders will own a smaller percentage of the company.The "Overhang": There are now 65.7 million options and 32.6 million warrants outstanding. Combined, these represent nearly 13% of the current share capital. Whenever the share price rises above the exercise prices (7p, 8p, 10.5p), those option holders are likely to exercise and sell, which can create a "ceiling" that makes it harder for the share price to rally quickly.