We would love to hear your thoughts about our site and services, please take our survey here.
The CLNs in my view are simply a way to issue shares via a different method at a future point. It is my belief they fully intend to convert them.
If you look at the dates attached to those CLNs we will not be mining any Gold or even have the mine built, hence my conclusion above.
OverallI don't have an issue with that other than the price attached to those CLNs. The term sheet was a real SP killer to me as everyone knew a large section of shares will be issued at a 10% to VWAP at a future point.
Now, everyone knows another large dilution is on route when those CLNs get converted OR if they get pushed back all it does is hang that future 0.57ish (from memory don't quote me) future converted dilution price over the share for longer.
Mali clearly has its issue but it's by no mean an uninvestable area as seen by a Mali Lith explorer getting 100 mil plus finance deal arranged (not drawn down yet) recently.
Yep, different product, different country of origin share holders but if Mali open up Gold mining permits again then it does show hurdles can be overcome.
And that is a fair point JC. I know previous deals hit a wall but purely as an example that consisted of 2 different agreements and so while some might argue things have changed since and others that nothings changed, regardless, we still know Robbie has the capability to arrange multiple deals.
I know some bash active twitter feeds and say "just get or with this or that" but I do like Caracal's informative posts. I'd much rather that than never seeing what's going on.
They have areas to improve on, but in terms of onsite photos etc that's one area they do well and used to do well at too. Its felt like they had moved away from that a little over the last few months, but glad its back.
That's not intended as negative either, more just a fact.
End of the day Cora's main shareholders were happy to fund us another 15 plus mil via CLNs in the new fund raise so I'm guessing they don't feel to worried about the mining permit outcomes getting granted.
Here is Cora's reply to me I posted before on here.
"Many thanks for your email below.
Following the award of the Environmental Permit for Sanankoro in October 2022 and completion of the Definitive Feasibility Study ('DFS') in November 2022 Cora’s next step will be to submit an application for a Mining Permit over the Sanankoro area along with a French translated copy of the DFS. Currently the Sanankoro area is covered by Exploration Permits which do not allow for mining activities. As you are aware, on 28 November 2022 the Mali government announced the suspension of issuing new mining permits. Further updates on this will be provided in due course."
Cora isn't exempt. I emailed Cora about this and posted on here a while ago showing reply.
Long story short, Cora can't apply for a mining license for it's project until Mali open up the ministry of mines again. It does have a exploration license though.
AG - Cora are very much at that stage, that's why they are obtaining funding to build the mine. Yes until its built your still exploring but it is pretty standard to get your mining license before you start building work as otherwise you might invest tens of millions to then get turned down.
In our case, we are lucky Cora is still pushing ahead with the build and our backers financed more, fair play to them.
Anyone else can also email the BOD and they will get the same reply about the license.
It's not complete yet. Its conditional.
They still have to pass on the 28th at the GM. Sure, that might be taken as read, but technically until conditions met and drawn down, it's not in the bag 100%
If all does go well though its a decent chunk of the funds sorted. I will be interested to see if the additional 10 mil ish gets subcribed too. If so, we should have about 1/3 of total finance required sorted.
Eager eyes to see how the remaining 2/3's will be raised.
I'm also eagerly awaiting Mali re-opening mining license applications as that's a biggie too although it would appear we plan to start the build work without and thus plenty of time ahead for them to re-open before the build is completed.
I know buddy.
I was just trying to highlight to that poster elsewhere that his assumption that, that stock was being unfairly targeted and others not didn't hold any weight to me, either via usefulness or logic. He used Cora as an example where shareholders aren't bothered about negatives, but I don't see how he came to that judgement as there isn't enough posted here to tell what shareholders think imo.
Thus I felt, he was making up narratives to fit his story.
Totally get that Bankrupty, I own some myself. I was just trying to highlight that you can't really compare any 2 companies, esp using shareholder sentiment from forums, and I was also being a little tongue in cheek, as so many varibles.
If RM was to step down, how many shares would he have that he might then offload? I'm not suggesting that's a reason to keep a CEO, but should be factored into the idea of what would occur and that's a large seller right there.
@Legal, I do totally see where you are coming from and can understand that you have taken in lots of positive and negative points into your thought processes to come to your own conclusion.
As a curiousity I guess, if the prospectus is approved/granted in say a relatively not to far off future, would that change your stance at all OR is that a bit pre-emptive as you would need to see the details nearer the time to judge?
Swamp, you seem very emotive. Certainly from my side at least, I'm not out to get you and I doubt anyone else is, so relax my friend, different view points are not always bad.
I appreciate the luck sent but as a fellow holder like yourself, am hoping that we won't need to much luck (although every project does need some so not going to knock a bit of good luck if it happens).
Although on the subject or Cora, I'm not sure it would be correct to say their shareholders are relaxed as such as the SP there has tanked, like most juniors over the last 12 plus months to the point, I don't think there is that many holders left there now. Certainly its 2 trades a day and 0 forum posts give the feeling of not many PIs still in or interested in anyway.
Swamp, I'm not sure why holders of other stocks and their views on those stocks, be they panic or glee matter or make any difference to GCAT.
GCAT won't do well as a company because Cora's or any other companies shareholders were relaxed, likewise it won't fail because Cora's or any other companies shareholders are relaxed either.
I do agree the cost isn't great for that single case, but my point is I think its overplaying TWs status and power. I don't see him as anymore powerful than any other poster here and tbf, a lot worse has been said on here.
Sure they could write a letter, but they would be sending them out daily if they took that route imo.
If someone can provide evidence of TW investigations which he has created that have directly been taken on by the FCA and resulted in said companies having action taken against them by the FCA all because of TWs hard work, then I def would accept he holds some weight and could be a worry, but if not, then he's just an average joe like the rest if us posting our musings.