Cora Gold Share Discussion Threads

[plat hunter] 16/7/2023 09:51

You're probably right Dead Duck... I've been bearish on it ever getting to production for a long time.

Will be interesting to see if effects Cora's chances in anyway though.

[dead duck resources] 16/7/2023 09:16

When the Mali govt 'purchased' an additional stake in B2Gold's mine they didn't pay a penny, arranging it as an IOU payable from production out of their increased dividend. As the government doesn't contribute to capex it doesn't plug the funding gap and can be seen as a free carry then an increased profit interest on commercial production if they so choose. This reduces profits available to shareholders so is largely negative. You could say negative to neutral as Cora's project is unlikely to ever become a mine.

[plat hunter] 15/7/2023 22:32

Cora will have their mining licence granted by end of Q4.

Mali gov will issue the licence as a JV. Cora with 85% the gov with 10% and the community having 5%

The licence will also give the right for the government to purchase a further 20% stake

I see this as largely positive as it could potentially plug a funding gap and make Lionheads term sheet surplus to requirements.

[plat hunter] 04/7/2023 09:28

That's main concern tbh, the termsheet isn't a loan it's for equity in the company.

At current mcap that's a 230% dilution just to raise the equity part of the project finance. Then there's still the issue of contingency.

I think Burt needs to start thinking about selling rather than developing it.

Get rid for 20m and a few percent free carry on a royalty and most here will at least see some kind of return.

[rogen83] 02/7/2023 17:55

Yep Lionhead are good for the bal

[plat hunter] 28/6/2023 17:02

The DFS is for a circa 100 million build though, does that mean Lionhead are up for the rest on the term sheet??

Then what about a contingency?

Long way to go before the cash questions are still fully answered.

[avsome1968] 28/6/2023 07:14

28 June 2023

Cora Gold Limited

('Cora' or 'the Company')

US$70m debt Mandate Letter signed to support

Sanankoro Gold Project Construction

Cora Gold Limited, the West African focused gold company, is pleased to announce that it has entered into a mandate letter to appoint Atlantique Finance to act as sole adviser in the structuring and mobilisation of a medium-term loan of US$70 million in CFA franc ('XOF') to support funding the development of Cora's flagship Sanankoro Gold Project in south Mali.

Atlantique Finance is the investment banking and advisory arm of Groupe Banque Atlantique and a member of the Banque Centrale Populaire Group ('BCP Group'), the 6th largest banking group in Africa in terms of equity and the leading banking institution in Morocco. The appointment of Atlantique Finance is for a minimum term of six months and on an exclusive basis.

Bert Monro, Chief Executive Officer of Cora, commented, "We look forward to working with Atlantique Finance to deliver debt finance for the construction of Cora's flagship Sanankoro Gold Project. The Banque Atlantique group has extensive experience of debt financing in West Africa.

"This US$70 million debt mandate is building on our fundraising activities earlier this year, where we raised US$3.9m in equity and US$15.9m in Convertible Loan Notes. Once the definitive binding agreements in respect of senior debt are concluded, and such agreements become unconditional, then the Convertible Loan Notes are subject to mandatory conversion. The Company looks forward to giving further updates on fully financing Sanankoro into production in due course as it progresses with Atlantique Finance."

Habib Kone, Chief Executive Officer of Atlantique Finance, commented, "Atlantique Finance and BCP Group ha ve a track record of successfully helping businesses secure debt funding for various purposes including, in 2021, US$122m to support the construction of a gold mine in Guinea. Over the past five years Atlantique Finance and BCP Group have raised over US$8,500m on the banking and capital markets. We are confident in our ability to support Cora through our expertise and breadth of knowledge of the market, and we are available to seek the expected debt financing for the Sanankoro Gold Project."

[plat hunter] 23/5/2023 07:27

If it doubles from here on a permit then there'll still be the small issue of no money, no funding and at least 100% dilution.

People here have done their money plain and simple. The previous one eyed rampers such as Corrientes and Chesty are long gone too. They've skidalded out of here without much of an apology for those who bought their dead cert ramping at 20p.

[the count of monte_cristo] 22/5/2023 16:45

Hence why it is at all time lows and pennies on the dollar. That's the situation here....get the permit sorted and it doubles, until then hovering at all time lows.

[plat hunter] 22/5/2023 14:00

Dead in the water without a permit

[the count of monte_cristo] 10/5/2023 14:46

You mean raising money to build a gold mine during a period of increasingly positive prices for precious metals, whilst most other asset classes are going to stagnate or decline?

[bsg] 10/5/2023 14:01

What about the massive dilution coming? That's not going to help.

[the count of monte_cristo] 10/5/2023 13:58

The rising gold price is going to take care of business here.

[plat hunter] 10/5/2023 09:36

That's the best outcome shareholders can dream of here, it's not a prediction as such but it does make sense for both parties, especially if HUM can update their existing yanfolila licences with an addendum rather than a whole new licence application.

[the count of monte_cristo] 10/5/2023 08:04

Also, HUM might be a potential acquirer but Robex Resources (Market cap 236.34 million CAD) also looks like another potential suitor. Already have an operating mine in Mali which is quite similar to the SANANKORO GOLD PROJECT.

[the count of monte_cristo] 10/5/2023 07:57

So, a 100% upside from the current share price for anyone buying in now then. Sounds positive and why I am a buyer at these levels especially with a rising gold price.

[plat hunter] 09/5/2023 16:57

Lol at Corrientes.

No sympathy for him, he attacked anyone who posted about the chance of success here.

No licence and a DFS for 100m capex for a 50k return. Where as HUM have just completed their second mine for 120m capex for 140k ounces.

Told him to just keep watching what happens. Shareholders here are wiped out now, there's no way back without trebling the issuance. HUM will end up taking the assets back to extend the life of the underground mine at yanfolila.

If a 20million bid comes here then shareholders should jump at it.

[the count of monte_cristo] 05/5/2023 04:10

Perhaps it's just a delayed reaction and we may see a 20% rise in due course as the sentiment begins to change as investors start to search for the next undervalued gold stock. As the other gold producers and explorers rerate, somewhat, then the value of the ones who have yet to rerate begins to look more appealing.

The precious metals story has many years to play out yet, it will cumliminate in a wonderful orgy of speculation and mania.

Just my view on the psycholgical aspect of the sector, shares and times may change, but human emotions don't:)

[corrientes1] 04/5/2023 14:32

Well then, wakey wakey Cora. It can't be the geography ; look at Hum. Have the lenders got cold feet ?

[the count of monte_cristo] 04/5/2023 13:21

Hmm, I think things are going to get much worse and the worst is yet to come and therefore gold is a hedge against this. Looking at the US stock markets they are still riding high, I concur with other notable commentators that things are going to get ugly. During the recession of the 70's the small cap gold stocks did very well indeed.

[bocarugga85] 04/5/2023 13:05

Agree that it is still early days.

I can't help get the feeling - once the recession recovery starts - junior PM miners will be the new asset darlings. Similar to the crypto rush of 2020 - except, you know, developing something tangible and useful.