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Until Mali lifts the permit suspension Cora can't move forward with any plans. I can't understand why Mali is taking so long it's just delaying future revenue for the country. Maybe Senegal drilling results will be released in July.
Does anyone here have a view as to what exactly is going on with this share?
I understand they await a mining permit and the Mali Government changes etc but this stock just continues to fall even after the positive news about the Senegal drill surveys. Like a lot of you here (whom im sure heavily invested and drowning here on the current SP as the same as me) it would be helpful if Bert could give us the BoD views as to when permits will be submitted to the government and any further news on the other areas of exploration?
I think i posted last sometime in March saying why does the stock continue to tumble and at this rate in 6 months time there wont be a business left should we continue to dwindle below the 1p mark!?
Really? I think you're talking tosh!!
https://www.ecofinagency.com/mining/0606-45593-mali-b2gold-pays-goverment-300m-from-2023-operations
First let me declare that I have held shares in Cora for some years and my holding is now fairly insignificant having been decimated by the military takeover in Mali. The warning is for prospective investors. It is my view, fwiw, that the Russians will control the resources in Mali going forward and even the likes of Barrick will lose control of their investment in the Country. I don't believe Cora can therefore mine there or make money there. If they can succeed, against all the odds, then great because my holding might just be worth something. Russia is a big player in Mali and supports the Junta who appear happy to get rich from the gold refinery being built there to exploit their vast resources.
Looks like we are progressing in Senegal while we wait for the Mali license to be granted. At least this opens another potential revenue source, with Senegal mining licenses still available.
"Looking ahead, we look forward to providing further updates on progress at Sanankoro, including submission of the application for a mining permit once the moratorium on issuing permits is lifted. We also look forward to sharing updates on wider exploration activities across our permits, including the reconnaissance drill programme at Madina Foulbé in east Senegal announced on 08 April 2024.
"Finally, I'd like to thank both Cora's shareholders and stakeholders for their continued strong support and patience throughout 2023."
Drilling results and end of year results all by the end of the month. Hopefully positive updates approaching.
Good updates on X recently, credit were credits due 👍
Any thoughts ?
https://twitter.com/ZaksTradersCafe/status/1783030456499204373
The buy was mine as I average down again on buy in price.
Only 452 million shares in circulation. No dilution until Mali lifts the suspension on mining permits and the financing is put in place for the mine construction. So Senegal news will be the SP driver over the coming months.
Trouble is there's huge dilution to come as funding is mostly equity based.
Ideally this will bounce back on further good news.
Have a look at #MIRI after seeing that mega news this morning.
Go and check #MIRI RNS. After all, we're here to make money.
Fingers Crossed Brown99, heres hoping it comes sooner rather than later.
HI Brown99, no that was not my buy, ive already heavily invested here, i may dip the big toe back in once more fortunate RNS is issued
Was that your buy Stocktow??
As soon as the mining permit suspension is lifted in Mali we should see a dramatic re-rating.
1) Mining Permit Granted (Back to 3-4p)
2) Finance to develop the project completed (4-6p)
3) Start of Mine Construction (6-8p)
Thanks Browns99, helpful to know yet does not stop the worry regards the continued depletion of the share.
I guess all you can say is tighten your belts and sit in for the long bumpy ride to a mining permit!
Stocktow
I have received a reply from Bert today . I asked why the directors weren't buying any shares. His reply was "3 Cora directors picked up more shares in the CLN conversion recently"
A 600,000 share buy today and the SP does not move?
As id mentioned, im really concerned, i think this is something like a +20% drop in about month?
Hence my point raising if Directors/Owners believe in this company so much then why are they not "filling their boots" at this point in time??
Another 5% drop on less than £700 worth of sells. I sent a DM on X to both Cora and Bert expressing my concerns of this situation!! If this Permit suspension continues for many more months I'm rally worried that the share price will go below 1p and further. Directors need to buy some shares to show they still have faith in the project.
Hi Brown99
I can only but hope you are right with what you say, i would assume a tell tail sign would probably be a major buy from Directors/oweners then the likes of us small fry will miss the huge jump in value!
The only return response i can say on funding which is generally a huge worry/concern across the globe for numerous reasons at the moment is RUSSIA. They could be used as a mechanism to slowly by back the mines, you know how the Russians like to get involved with gold, especially when half of the G7 are/have sanctioned them.
Mali wouldn't have the funds to develop a mine like ours, they rely on investment from other countries to build and go into production. Barrick Gold have recently mentioned that they have budgeted $10 million for exploration in Mali this year and are awaiting the lifting of the permit suspension. They also said that they believe the suspension will be lifted by the middle of this year. Barrick Gold and B2B Gold will be pushing for this to happen for sure.