Latest news with #KoboResources
National Post
15-05-2025
- Business
- National Post
Kobo Resources Reports Strong Gold Intercepts of 8.0 m at 2.07 g/t Au and 8.0 m at 2.16 g/t Au and Improves Structural Understanding at Kossou
Article content Latest diamond drill results confirm strong gold continuity across the Jagger Shear Zone, with 8.0 m at 2.07 g/t Au and 8.0 m at 2.16 g/t Au Improved understanding of structural controls and geology supports expanding mineralised zones at the Jagger Zone target All four holes intersected gold-bearing shear structures, validating the Company's exploration model and highlighting near-surface potential Article content Article content QUEBEC CITY — Kobo Resources Inc. (' Kobo' or the ' Company ') (TSX.V: KRI) is pleased to announce results from the first four diamond drill holes of the Company's current exploration program at its 100%-owned Kossou Gold Project (' Kossou ') in Côte d'Ivoire, West Africa. The new holes targeted the Jagger Zone and returned multiple high-grade gold intercepts while significantly improving the Company's understanding of the geology and structural controls that host mineralisation across this priority target. Article content Jagger Zone Diamond Drill Results – Highlights: Article content Edward Gosselin, CEO and Director of Kobo commented: 'We continue to deliver strong results at our Kossou Gold Project. Our latest drill results strengthen our understanding of the continuity of gold mineralisation at the Jagger Zone and continue to validate the broader structural model we've been developing at Kossou. In addition, new intercepts indicate additional mineralisation in the footwall of the Jagger Shear Zone within 'Jagger Structure 6' and additional drilling is warranted to further define this target.' Article content He continued: 'Gold mineralisation at the Jagger Zone occurs within an approximately 70-m wide zone of shearing and is closely associated with the quartz feldspar porphyry and diorite intrusives within the basalts, part of an overall 200 m wide deformation zone that has been mapped the length of the Jagger-Road Cut Zone area. This improved understanding of the structural controls gives us greater confidence in our ability to define additional mineralised zones and strategically advance the project going forward. As our 2025 diamond drilling campaign progresses, we remain focused on uncovering additional near-surface mineralization as we work to unlock the broader potential of Kossou.' Article content Drill hole KDD0077, completed on Jagger Section JZ650, was drilled to test the continuity of mineralisation between previously drilled in holes KRC006 and KRC007 ( see press release July 24, 2023). The hole successfully confirmed the predicted continuity of the Jagger Shear Zone and its associated gold-bearing structures. Notably, Jagger Structure 6 (' JS6 ') was intersected near the bottom of the hole, returned 5.0 m at 1.88 g/t Au, highlighting its potential as a significant but relatively underexplored gold-bearing shear zone. JS6 will be prioritized for additional drill testing in future phases. See Figure 2 for cross section JZ650. Detailed collar information and intercepts for all four holes are provided in Table 1. Article content Drill hole KDD0078, completed on section JZ625, demonstrated continuity of the Jagger Shear Zone and higher-grade mineralisation, similar to what has been observed in previous drilling. The hole is projected onto section JZ600 (see Figure 3), and demonstrates strike continuity of gold mineralisation across the zone. Importantly, KDD0078 also intersected significant mineralisation within JS6, returning 4.0 m at 2.39 g/t Au, reinforcing the structure's potential as a key mineralized target. Article content Drill hole KDD0079, completed on section JZ575, continued to demonstrate strong correlation between the overall Jagger Shear Zone and associated higher-grade gold mineralized intervals. Consistent with previous drilling, KDD0079 intersected JS6, returning a broad zone of 14.0 m grading 0.87 g/t Au. Article content Additional shear zones with anomalous gold values were encountered in all four diamond drill holes on the footwall side of JS6, suggesting potential for additional mineralised shear zones within the volcanic package approaching the first order Contact Fault Zone. Article content The gold mineralisation at Kossou is localized within a broad, north-south–trending and steeply west-dipping deformation corridor with an estimated width of approximately 200 m, consisting of anastomosing second- and third-order fault zones in close proximity to the first-order Contact Zone Fault that separates basaltic volcanics from volcano-sedimentary rocks. Article content The brittle-ductile shears and faults in the area serve as the primary structural controls on gold mineralization. The development of shears at the Jagger Zone is strongly influenced by lithological competency contrasts between basalt and diorite/quartz feldspar porphyry dykes within the volcanic package. Article content The main zone of shearing at the Jagger Zone occurs within an approximately 70-m wide corridor and is closely associated with the quartz feldspar porphyry and diorite intrusives within the basalts. Article content The primary vein types intersected in the drill core are V1 quartz veins and veinlets, which are parallel to the S1 foliation and are gold-bearing within the main shear zones. The dominant gold-bearing veins are V2A veins, which trend WNW to NW and are prominent within and in close proximity to the shears. A relatively minor set of sub-horizontal V2B veinlets and hairline fractures contains sporadic mineralization. Article content Recent drilling has shown that JS6, situated approximately 100 m in the footwall of the main Jagger Shear Zone, contains a consistent and laterally persistent shear zone, with all four of the latest diamond drill holes intersecting this structure. Article content The results of these four diamond drill holes demonstrate that gold intersections occurred where predicted, providing evidence of relatively good along-strike continuity within this part of the shear zone. Article content Drill hole KDD0076 was completed using an azimuth of 045° to test the effectiveness of the current drill orientation. In contrast, drill holes KDD0077 through KDD0079 were completed at the standard 070° azimuth. Results from this test confirm that the 070° orientation remains optimal for targeting the mineralized structures at Jagger, and that no adjustments to the current drilling pattern are necessary. Article content BHID East North Elev. Az. Dip Depth From (m) To (m) Int. (m) Au g/t Target KDD0076 229029 775272 354 45 -50 244.05 38.0 40.0 2.0 4.13 Jagger 45.0 47.0 2.0 2.66 Jagger 54.0 60.0 6.0 1.20 Jagger 88.0 91.0 3.0 0.63 Jagger 98.0 102.0 4.0 0.70 Jagger 192.0 197.0 5.0 0.58 Jagger KDD0077 229029 775272 354 70 -50 221.05 34.0 44.0 10.0 1.13 Jagger 56.0 64.0 8.0 2.07 Jagger incl. 61.0 64.0 3.0 4.23 Jagger 83.0 85.6 2.6 1.17 Jagger 90.9 92.6 1.8 0.57 Jagger 106.0 109.0 3.0 0.43 Jagger 185.0 190.0 5.0 1.88 Jagger KDD0078 229006 775291 351 70 -50 242.05 55.0 58.0 3.0 3.08 Jagger 64.0 70.0 6.0 1.64 Jagger incl. 64.0 65.0 1.0 8.47 Jagger 95.0 102.3 7.3 1.63 Jagger 105.9 109.0 3.1 0.48 Jagger 197.0 201.0 4.0 2.39 Jagger KDD0079 228991 775311 344 70 -50 242.05 45.0 53.0 8.0 2.16 Jagger incl. 48.0 50.0 2.0 5.20 Jagger 61.0 69.4 8.4 1.64 Jagger incl. 64.0 69.4 5.4 2.23 Jagger 108.5 116.0 7.5 0.99 Jagger 120.0 129.0 9.0 0.44 Jagger 198.0 212.0 14.0 0.87 Jagger incl. 198.0 208.0 10.0 0.96 Jagger incl. 198.0 204.0 6.0 1.33 Jagger Notes: Cut-off using 2.0 m at 0.30 g/t Au Article content An accurate dip and strike and controls of mineralisation are unconfirmed at this time and the true width of mineralisation are unconfirmed at this time. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances. Article content Sampling, QA/QC, and Analytical Procedures Article content Drill core (HQ/NQ) was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Samples are transported to the SGS Côte d'Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample (split of the 1 m original sample) every 20 samples. All QAQC control samples returned values within acceptable limits. Article content The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo. Article content Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa's most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities. Article content With over 15,000 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou's Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development. Article content Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo's common shares trade on the TSX Venture Exchange under the symbol 'KRI'. For more information, please visit Article content This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. Article content Article content Article content Article content Contacts Article content Article content Article content
Yahoo
26-04-2025
- Business
- Yahoo
We're Keeping An Eye On Kobo Resources' (CVE:KRI) Cash Burn Rate
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse. So should Kobo Resources (CVE:KRI) shareholders be worried about its cash burn? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Let's start with an examination of the business' cash, relative to its cash burn. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Kobo Resources last reported its December 2024 balance sheet in February 2025, it had zero debt and cash worth CA$4.0m. Looking at the last year, the company burnt through CA$3.6m. So it had a cash runway of approximately 13 months from December 2024. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. Depicted below, you can see how its cash holdings have changed over time. Check out our latest analysis for Kobo Resources Kobo Resources didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. As it happens, the company's cash burn reduced by 19% over the last year, which suggests that management are maintaining a fairly steady rate of business development, albeit with a slight decrease in spending. Kobo Resources makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth. While Kobo Resources is showing a solid reduction in its cash burn, it's still worth considering how easily it could raise more cash, even just to fuel faster growth. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn. Since it has a market capitalisation of CA$30m, Kobo Resources' CA$3.6m in cash burn equates to about 12% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution. The good news is that in our view Kobo Resources' cash burn situation gives shareholders real reason for optimism. One the one hand we have its solid cash burn reduction, while on the other it can also boast very strong cash burn relative to its market cap. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Kobo Resources' situation. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Kobo Resources (of which 3 make us uncomfortable!) you should know about. Of course Kobo Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
