No J, you're asking the same questions I was asking myself! It is as pliable as a fabric, like artificial suede or something like that. There seems to be a very very thin skin of cork bonded onto a backing fabric and that's it.
Thats SIO. I'm using it now ( well, not NOW, cos I'm here, but I'm using it as my daily bag so we'll see what happens. apparently it can be washed too)
Today I braved the crowds and went to the weekly market in Prades and there was a man selling jewellery strung onto cord cord - never seen that before either, but he wouldn't share his secret with me, so I might have to look that one out - it might make a really good corded deco on something.)