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Cora Gold

BST:C0J
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
C0J
BST
£5M
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Cora Gold Limited, together with its subsidiaries, engages in the exploration and development of mineral projects in West Africa. The last earnings update was 16 days ago. More info.


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C0J Share Price and Events
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Cora Gold's competitors could be found in our database.

C0J Value

 Is Cora Gold undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Cora Gold. This is due to cash flow or dividend data being unavailable. The share price is €0.163.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cora Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cora Gold's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:C0J PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $0.03
AIM:CORA Share Price ** AIM (2018-07-17) in GBP £0.09
AIM:CORA Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.315 $0.12
Germany Metals and Mining Industry PE Ratio Median Figure of 5 Publicly-Listed Metals and Mining Companies 8.38x
Germany Market PE Ratio Median Figure of 407 Publicly-Listed Companies 18.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cora Gold.

BST:C0J PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:CORA Share Price ÷ EPS (both in USD)

= 0.12 ÷ 0.03

4.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cora Gold is good value based on earnings compared to the DE Metals and Mining industry average.
  • Cora Gold is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Cora Gold's expected growth come at a high price?
Raw Data
BST:C0J PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
10.1%per year
Europe Metals and Mining Industry PEG Ratio Median Figure of 59 Publicly-Listed Metals and Mining Companies 0.62x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Cora Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cora Gold's assets?
Raw Data
BST:C0J PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $0.19
AIM:CORA Share Price * AIM (2018-07-17) in GBP £0.09
AIM:CORA Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.315 $0.12
Germany Metals and Mining Industry PB Ratio Median Figure of 12 Publicly-Listed Metals and Mining Companies 3.51x
Germany Market PB Ratio Median Figure of 547 Publicly-Listed Companies 1.86x
BST:C0J PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:CORA Share Price ÷ Book Value per Share (both in USD)

= 0.12 ÷ 0.19

0.65x

* Primary Listing of Cora Gold.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cora Gold is good value based on assets compared to the DE Metals and Mining industry average.
X
Value checks
We assess Cora Gold's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Cora Gold has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

C0J Future Performance

 How is Cora Gold expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Cora Gold, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cora Gold expected to grow at an attractive rate?
  • Cora Gold's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Cora Gold's earnings growth is positive but not above the Germany market average.
  • Unable to compare Cora Gold's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:C0J Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:C0J Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 10.1%
Germany Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 31.2%
Europe Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 0.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BST:C0J Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:C0J Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 -0 1
2018-03-31 -0 2
2017-12-31 -0 4
2017-09-30 -0 4
2017-06-30 0 2
2017-03-31 0 1
2016-12-31 0 -0
2015-12-31 1 -0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cora Gold's earnings are expected to grow by 10.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Cora Gold is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:C0J Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Cora Gold Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:C0J Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 0.03
2018-03-31 0.06
2017-12-31 0.11
2017-09-30 0.15
2017-06-30 0.10
2017-03-31 0.05
2016-12-31 -0.00
2015-12-31 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Cora Gold will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Cora Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cora Gold has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

C0J Past Performance

  How has Cora Gold performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cora Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cora Gold has delivered over 20% year on year earnings growth in the past 5 years.
  • Cora Gold's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cora Gold's 1-year earnings growth is negative, it can't be compared to the DE Metals and Mining industry average.
Earnings and Revenue History
Cora Gold's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cora Gold Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:C0J Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 1.33 0.68
2018-03-31 2.45 0.52
2017-12-31 3.57 0.36
2017-09-30 3.75 0.23
2017-06-30 1.82 0.11
2017-03-31 0.88 0.06
2016-12-31 -0.05 0.01
2015-12-31 -0.34 0.00
2014-12-31 -0.30 0.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cora Gold has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cora Gold used its assets more efficiently than the DE Metals and Mining industry average last year based on Return on Assets.
  • It is difficult to establish if Cora Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Cora Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cora Gold has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

C0J Health

 How is Cora Gold's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cora Gold's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cora Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cora Gold has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Cora Gold's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Cora Gold has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cora Gold Company Filings, last reported 3 months ago.

BST:C0J Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 10.30 0.00 1.33
2018-03-31 10.30 0.00 1.33
2017-12-31 10.70 0.00 3.41
2017-09-30 10.70 0.00 3.41
2017-06-30 4.76 2.10 0.36
2017-03-31 4.76 2.10 0.36
2016-12-31 -0.60 2.10
2015-12-31 -0.55 1.72
2014-12-31 -0.20 1.07 0.10
  • Cora Gold has no debt.
  • Cora Gold currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Cora Gold has no debt, it does not need to be covered by operating cash flow.
  • Cora Gold has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Cora Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cora Gold has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

C0J Dividends

 What is Cora Gold's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Cora Gold dividends.
If you bought €2,000 of Cora Gold shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Cora Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Cora Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:C0J Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Cora Gold has not reported any payouts.
  • Unable to verify if Cora Gold's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Cora Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Cora Gold has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Cora Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cora Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cora Gold has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

C0J Management

 What is the CEO of Cora Gold's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jon Forster, image provided by Google.
Jon Forster
AGE 63
CEO Bio

Jonathan James Forster is an exploration geologist and has been involved in mineral projects in Africa and other parts of the world since 1980. In particular, he has focused on the junior gold exploration sector in Africa since 1990 initially with SAMAX Gold Inc. (“SAMAX”), where, as the Group Exploration Manager, he was closely involved with the grass roots multimillion ounce gold discovery of Kukuluma- Matandani in Tanzania, subsequently developed as part of the Geita Mine following the takeover of SAMAX by Ashanti Goldfields in 1998. Later, as part of the team that founded AXMIN Inc. (“AXMIN”) in 1999. With the combined role of Chief Executive Officer and Head of Exploration, he supervised the grass roots discovery and eventual completion of a bankable feasibility study for the multimillion ounce Passendro Gold Project in the Central African Republic, as well as gold discoveries in Mali (the Kofi Project, now being mined by Endeavour Mining Ltd) and Sierra Leone. Having voluntarily stepped down as CEO from AXMIN at the end of 2007 to enable a development team to progress the Passandro Gold Project, he remained as head of exploration until 2008 at which time he left to co-found Bambuk Minerals Limited. Bambuk Minerals Limited remained a private company, where he served as Chief Executive and Head of Exploration.

CEO Compensation
  • Insufficient data for Jon to compare compensation growth.
  • Insufficient data for Jon to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Jon Forster

TITLE
CEO & Director
AGE
63

Craig Banfield

TITLE
CFO & Company Secretary
Board of Directors Tenure

Average tenure and age of the Cora Gold board of directors in years:

1.4
Average Tenure
48
Average Age
  • The average tenure for the Cora Gold board of directors is less than 3 years, this suggests a new board.
Board of Directors

Geoff McNamara

TITLE
Non-Executive Chairman
AGE
48
TENURE
1.2 yrs

Jon Forster

TITLE
CEO & Director
AGE
63
TENURE
5.9 yrs

David Pelham

TITLE
Non-Executive Director
AGE
68
TENURE
1.4 yrs

Bert Monro

TITLE
Non-Executive Director
AGE
34
TENURE
1.4 yrs

Paul Quirk

TITLE
Non-Executive Director
AGE
37
TENURE
1.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Value (USD)
18. May 18 Buy _ Farmer Individual 28. Mar 18 29. Mar 18 100,000 $20,962.35
05. Dec 17 Buy Paul Quirk Individual 04. Dec 17 04. Dec 17 120,000 $20,935.20
X
Management checks
We assess Cora Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cora Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

C0J News

External News
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Simply Wall St News

C0J Company Info

Map
Description

Cora Gold Limited, together with its subsidiaries, engages in the exploration and development of mineral projects in West Africa. The company primarily explores for gold. Its flagship project is the Sanankoro property, which consists of four contiguous permits covering an area of approximately 320 square kilometers located in Koulikoro region in southwest Mali. The company was founded in 2012 and is based in Road Town, the British Virgin Islands.

Details
Name: Cora Gold Limited
C0J
Exchange: BST
Founded: 2012
£5,796,296
55,055,394
Website: http://www.coragold.com
Address: Cora Gold Limited
Rodus Building,
Road Reef Marina,
Road Town,
VG1110,
British Virgin Islands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM CORA Ordinary Shares London Stock Exchange AIM Market GB GBP 09. Oct 2017
DB C0J Ordinary Shares Deutsche Boerse AG DE EUR 09. Oct 2017
BST C0J Ordinary Shares Boerse-Stuttgart DE EUR 09. Oct 2017
Number of employees
Current staff
Staff numbers
14
Cora Gold employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/10/14 18:47
End of day share price update: 2018/07/17 00:00
Last earnings filing: 2018/09/28
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.