3 Reasons to add Cora Gold #CORA to your Watchlist
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3 Reasons to add Cora Gold #CORA to your Watchlist

THE CONTENT OF THIS BLOG / WEBSITE (OR CONTENT ASSOCIATED WITH IT) IS NOT INTENDED AS INVESTMENT ADVICE, IT IS FOR INFORMATION PURPOSES ONLY. YOU SHOULD TAKE PROFESSIONAL FINANCIAL ADVICE IN CONNECTION WITH, OR INDEPENDENTLY RESEARCH AND VERIFY, ANY INFORMATION THAT YOU FIND ON THIS BLOG / WEBSITE AND WISH TO RELY UPON, WHETHER FOR THE PURPOSE OF MAKING AN INVESTMENT DECISION OR OTHERWISE. WE ARE NOT REGULATED UNDER UK FINANCIAL SERVICES LAW. THE AUTHOR OF THIS BLOG MAY HOLD AN INTEREST IN THE STOCK FEATURED.

CORA GOLD #CORA
Share Price: 14.75p
Market Capitalisation: £8.10m

Cora Gold is a new gold exploration company focused on two world class gold regions in Mali and Senegal in West Africa.

Historical exploration has resulted in the highly prospective Sanankoro Gold Discovery, in addition to multiple, high potential, drill ready gold targets within its broader portfolio.

Cora Gold’s primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (South Mali), which Cora Gold believes has the potential for a standalone mine development.

3 REASONS TO ADD CORA GOLD #CORA TO YOUR VOX MARKETS WATCHLIST

POSITIVE DRILL RESULTS ON TWO SEPERATE GOLD PROSPECTS

PROSPECT 1: SANANKORO

On 29th January Cora Gold released the, “the first results from stage 1 of its on-going drilling programme at its flagship Sanankoro Gold Discovery in southern Mali”, which included, “extremely encouraging high-grade gold intercepts reported of up to 52.80 grams per tonne (“g/t”).”

  • 17 metres @ 5.43g/t from 67 metres downhole (including 8 metres @ 11.24g/t);
  • 11 metres @ 5.24g/t from 4 metres downhole (including 1 metre @ 52.80g/t);
  • 20 metres @ 2.15g/t from 77 metres downhole;
  • 15 metres @ 1.41g/t from surface; and
  • 10 metres @ 1.37g/t from 39 metres downhole.

On 24th April 2018 Cora released another RNS entitled, “Sanankoro Reconnaissance Drill Results Confirm Large Gold Mineralised Structure”.

 

Highlights

Sanankoro Structure hosts a 3.6km continuous gold zone with depths of ~100m confirmed by
results

• Exceptionally mineralised intercept of 35.7g/t Au over 1m delivered between Zone A and Zone B,
and additional assay highlights of:

  • 35.7 g/t Au over 1 m
  • 1.89 g/t Au over 13m
  • 1.19 g/t Au over 19m
  • 1.26 g/t Au over 14m
  • 4.88 g/t Au over 2m

• 900m gold strike confirmed from initial drilling on the Bokoro Structure.

• Highlights of the assay results from the Bokoro Structure include high grades of:

  • 4.92 g/t Au over 6m
  • 1.56 g/t Au over 6m
  • 1.48 g/t Au over 6m
  • 1.01 g/t au over 13m

Dr Jonathan Forster, CEO of Cora Gold, said, “The demonstration of a 3,600m long continuous gold structure highlights Sanankoro’s position as a new gold discovery with the potential to become a significant development asset. We have also identified a 900m long zone of continuous gold mineralisation on the previously untested Bokoro Structure to the west.”

PROSPECT 2: TEKELEDOUGOU

On 1st May Cora released an RNS entitled, Exciting High-Grade Drill Results from Tekeledougou Gold Permit, Mali“.

HIGHLIGHTS

• Maiden drill programme at Tekeledougou Permit
Two new gold zones discovered, with shallow, broad, high-grade gold intercepts including:

WOYONI

▪ 56m at 2.2 g/t Au including 22m at 4.86 g/t Au; and
▪ 60m at 0.7 g/t Au including 9m at 1.30 g/t Au.
▪ Drilling confirms minimum strike length of 250m
▪ Open in all directions

KOUROUDIAN

▪ 17m at 6.8 g/t Au including 1m at 102 g/t Au; and
▪ 15m at 1.17 g/t
▪ Drilling confirms minimum strike length of 500m and clear potential to extend over 1km
▪ Open in all directions

• Cyanide bottle roll assays indicate potential gold recoveries of between 91% and 96%
Less than 10 km from Hummingbird Resources plc’s producing Yanfolila Gold Mine – potential fast-route to cash flow; and 60km south of Cora’s Sanankoro Gold Discovery

On a recent podcast (see below) Hayden Locke, Cora’s Business Development Manager said, “This initial result compares very favourably to what is one of the best gold discoveries in 10 years in Mali”.

He was referring to Cora’s 56m at 2.2 g/t Au including 22m at 4.86 g/t Au and comparing it to Papillon Resources Fekola asset, whose initial drill results included apprxoimately 30m @ 3G/t.

OTHER DRILL TARGETS

Cora have multiple other drill targets to follow up in the Yanfolila Gold Belt South Mali, which have include historical reconnaissance drilling at Tagan, Siranikele &Farassaba III. Intercepts include:

• Tagan: 30m @ 1.6 g/t Au
• Siranikele: 18m @ 4.3 g/t Au
• Farassaba III: 4m @ 2.6 g/t Au

 

LOCATION

Being located on Mali’s prolific gold belts (over past two decades more than 50Moz Au discovered across 12 gold project areas in West Mali alone) means, not only does the geology lends itself to excellent potential but that there’s already exisiting mining infrastructure in close proximity.

One of the mines within 10km of their Tekeledogou prospect and 60km of their Sanankoro belongs to Hummingbord Resources (HUM) who announced their first gold pour in December 2017 and will be producing an average of 107,000oz of gold per year over life of the mine from the 1.5moz resource.

Why would Hummingbird Resouces agree to let Cora Gold use their mine?

Hummingbird own 33.85% of Cora Gold and Bert Monro who is Head of Business Development at Hummingbord Resources is also a Non-Executive Executive Director of Cora Gold.

 

MANAGEMENT & SHAREHOLDERS

Geoff McNamara – Chairman

Geoff has over 25 years of resource sector experience as a geologist, project manager, corporate financier and fund manager. He is a Partner at Medea Natural Resources, Non-Executive Director at Access Asia Mining and a Non-Executive Director of the Singapore Mining Club.

Previously he was an owner and Investment Director of Pacific Road Capital, a private equity manager, investing in the global mining industry.

Pacific Road Capital has over $800m of funds under management when Geoff was Investment Director in 2014.

 

Jon Forster – Chief Executive Officer

Jon is an exploration geologist & has been involved in mineral projects in Africa since 1980. He has been working at senior levels in the junior gold sector since the early 1990s; firstly with SAMAX Gold (with discoveries in Tanzania & Ghana); then in AXMIN (with discoveries in the Central African Republic, Sierra Leone & Mali); & more recently with Bambuk Minerals (with discoveries in Senegal & Guinea).

I have interviewed Jon several times and beyond his wide experience in Africa, he is a consummate professional who is unassuming and on several occassions has be very understated on the positive drill results he’s achieved so far. It is always preferable to have someone understate and over deliver rather than the other way round.

 

Bert Monro – Non-Executive Director

Joined Hummingbird Resources in 2009 as Operations Manager in charge with overseeing the development of the Dugbe Gold Project in Liberia as it progressed from greenfield exploration to maiden resources.

I have also chatted to Bert on several occassions in his capacity as Head of Business Development at Hummingbird Resources. Bert is very personable, astute and extremely skilled at sharing the economics of a complex project in an easily digestable way.

Hummingbird Resources hold 33.85% of Cora Gold.

 

Paul Quirk – Non-Executive Director

Paul is has over 10 years operational experience in the Republic of Congo, having worked as Country Manager of MPD Congo SA (Zanaga Iron Ore Company) which listed on AIM in 2010. He started his own logistics company in the Congo, Fortis Logistique.

Key Ventures Holding Ltd which holds 13.33% of Cora shares is related to Paul Quirk.

Brookstone Business Inc, with hold 5.14% of Cora shares are also connected to the Quirk Family.

Paul is a member of the Quirk Family who are well know in the mining community. His father Patrick Quirk was one of the founderes Lionore. In 2007, LionOre was bought by Norilsk Nickel, the world’s largest Nickel Mining Company, for US$6.3 billion.

 

The Lord Farmer

Michael Farmer, The Lord Farmer is a British businessman, philanthropist, former treasurer of the Conservative Party, and life peer in the House of Lords.

Lord Farmer worked his way up from being a difference account clerk and messenger in a London Metal Exchange member firm to being founding partner for the Red Kite Group of hedge funds, which provides mine finance and futures investment opportunities for funds. Red Kite manages over $2bn of assets as of the end of 2016.

He is known in the commodities world as “Mr Copper” for his long-term involvement with the world copper market, often responsible for shipping around 15pc to 20pc of China’s copper supplies.

Lord Farmer is reportedly worth over £150 million.

 

 

How does it fit in with my research model, C.C.A.S.S.H which you can read more about by clicking here

GREEN = POSITIVE

BLACK = NEUTRAL

RED = NEGATIVE

CAPITALISATION

Valued at only £8.1m Cora Gold, being an early exploration company, has plenty of upside potential should they exploit the mineralisation they have at the moment, even without further success although the chance of them not unearthing more impressive drill results, I’d say, are slim.

CHART

Cora listed on AIM on 9th October 2017 at 16.5p, so at 14.75p are currently sitting below their IPO price. Since February of this year their share price seems to have settled into a trading range, 16p being the high, 12p being the low. They is certainly no spike in the price and as they’ve only been floated for less than a year, they’re bit of an unknown amongst the investor community.

ASSETS

Cora Gold raised £3.45m at IPO and in their Q1 2018 Corporate Presentation they state they had £2.2m of cash.

SHAREHOLDERS

61.12% of the shares are very held by institutions, high net worths and directors.

This doesn’t include, Geoff McNamara’s (Chairman) holding which was stated as 1.5% on 12th October.

SIGNIFICANT MILESTONE

There’s still drilling being undertaken at their flagship project Sanankoro, where:

“There remains every chance of identifying additional new zones on both the Sanankoro and Bokoro structures with future drilling, we are excited to see the inventory of targets is expanding for prioritisation at the resource drilling stage”

And at their recent discovery Tekeledougou:

“I look forward to promptly pursuing these discoveries, with follow up infill and extensional RC programmes being planned, as well as some core drilling to help understand the new systems.”

HEAD HONCHOS

The board and significant shareholders of Cora Gold have an impressive track records in mining globally. You can read their bio’s by CLICKING HERE

 

Having only floated less than 12 months ago, Cora Gold is currently under private investors radars but not as far as the mining and industry experts are concerned. The shareholder register is stacked with expertise and old money, who have all made their fortune in this industry.

It’s an early exploration play, so it’s still very risky but the first set of drill results from their projects at Sanankoro and Tekeledougou are very encouraging. Talking about Tekeledougou (not their flagship project) Hayden Locke, Cora’s Business Development Manager said, “This initial result compares very favourably to what is one of the best gold discoveries in 10 years in Mali”. It’s also worth noting that they have other targets to drill.

Add to this the fact that they are exploring locations that have had more than it’s fair share of successful gold discoveries and that their biggest shareholder, Hummingbird Resouces (with it’s own successful operational mine) is just down the road and I think Cora Gold is a very exciting opportunity.

TO ADD CORA GOLD TO YOUR WATCHLIST, CLICK HERE AND TAP THE, “FOLLOW”, BUTTON.

THE CONTENT OF THIS BLOG / WEBSITE (OR CONTENT ASSOCIATED WITH IT) IS NOT INTENDED AS INVESTMENT ADVICE, IT IS FOR INFORMATION PURPOSES ONLY. YOU SHOULD TAKE PROFESSIONAL FINANCIAL ADVICE IN CONNECTION WITH, OR INDEPENDENTLY RESEARCH AND VERIFY, ANY INFORMATION THAT YOU FIND ON THIS BLOG / WEBSITE AND WISH TO RELY UPON, WHETHER FOR THE PURPOSE OF MAKING AN INVESTMENT DECISION OR OTHERWISE. WE ARE NOT REGULATED UNDER UK FINANCIAL SERVICES LAW. THE AUTHOR OF THIS BLOG MAY HOLD AN INTEREST IN THE STOCK FEATURED.

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THE CONTENT OF THIS BLOG / WEBSITE (OR CONTENT ASSOCIATED WITH IT) IS NOT INTENDED AS INVESTMENT ADVICE, IT IS FOR INFORMATION PURPOSES ONLY. YOU SHOULD TAKE PROFESSIONAL FINANCIAL ADVICE IN CONNECTION WITH, OR INDEPENDENTLY RESEARCH AND VERIFY, ANY INFORMATION THAT YOU FIND ON THIS BLOG / WEBSITE AND WISH TO RELY UPON, WHETHER FOR THE PURPOSE OF MAKING AN INVESTMENT DECISION OR OTHERWISE. WE ARE NOT REGULATED UNDER UK FINANCIAL SERVICES LAW. THE AUTHOR OF THIS BLOG MAY HOLD AN INTEREST IN THE STOCK FEATURED.

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