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It's not practical to print 16B shares into a 16B share float, at a third of a penny. What institution would be allowed to take part in that.
Changing the float to 160MM shares resets whole thing, and allows for infinite new rounds of share printing.
I said this before and people made fun of me for it. And here we fcking are.
Always thought CUDA unlikely to get a good price perhaps the creditors have
backed Arty with a cut their losses deal we absorb the Cuda wyoming assets
they get a mix of cash and Copl shares
Who knows but we do now know the UP TO was a porky it was always going to be 100-1
for what purpose I guess we should find out this week
Do not ruin your weekend over it, it could be good news on the back of it , like the anticipated
Deep results coming on Monday with a placing BUT money to fast track our first Deeps
Horizonal high impact well
Just hope he has not fallen into another wonga barrel of tits and come out sucking his ****
:))
Let’s see how it unfolds, for all know there may not need to raise money.
Absolute *******s being posted right now, some saying dilution 100% on monday morning and placing to buy a debt ridden company?, absolute *******s.
Too post Evans, let’s wait for official news.
This all stinks to high heaven, the big boys in the know are dumping while the small investors are buying more. Knowing full well the now expected placing and consolidation will trash our investment. Great stuff Arty
Apoligies for mispelling of subject lol Deeeeerrrrhhhh.
Nailed on i totally agree mate, we ve been played !!
CawCaw hats off to you if this does all prove to be true. Read a few of your posts a few months ago stating what would happen here and it looks like you've been proved spot on with your judgement.
You are calling it proven?
Do you really think COPL will take on someone else's debt?
Lets be honest wtf has Art bought to the party for us PI absolute zero , its all about the big fish this share , asoon as i get the chance at my price im out of this, something doesnt stack up for me, other O&G comps motoring off the back of the recent surge in prices, yet we are 50% down from open , it makes no sense !
@cawcaw
Agree he needs money, lots of it in due course and dilution will happen at some stage, but im not so sure its 100% - as different territory now.
If he said to II on the inside line - we will consolidate soon, we raise more following this - then you can load at its lowest when announced - it would
dilute PI even further
then increase II positions
gain capital for drilling or acquisitions
ultimately PI lose short term but win long term if true value starts to be achieved by the capex
If your right - and you could be - PI should sell and buy back in following dilution announced when at its lowest ebb - just when II buy in if this scenario is valid - if not viable to sell then top up when its announced and ride the storm again, but its one step closer to safe harbour and material rise as production increases paid by this further dilution.
OR
AM doesnt dilute right away post consolidation, allows multiple news pending to roll and increase SP now most sellers gone, gains the II at what are still bargain levels, then dilutes later once healthy SP for less shares and more cash return, sentiment retained if explained well as an additive measure for exploration or WI increase etc.
Equally - AM cannot spend without his lender approval - he has demonstrated cost savings as a priority, good business practise -how dose his accountability to them work in this regard , gaining funds like this of old, taking PI kids lunch money in these terms, yet again? what message sent? live within your means is what the lender wants to see, demonstrate your financial management stability. We are now a producer.
Evan3020 I have over 15million of Arts little beauties trust me I hope this is all pie in the sky.
Good lad noob lol. Ps had a good few drinks tonight all to confusing for me
Art talks a good game thats about it .. Iv stuck around here for 18 months , in the grand scheme of things some would say thats being impatient , i just feel there are better options out there with less complications .. ! Im gutted because i had high hopes here all the talk of 1-2-3p embaressing really
@Shaa sorry to say but we have official news. This is happening.
Nobody knows that there will be a placing, but placing is the specific rationale given by the BOD when they requested permission to consolidate.
They literally said that's what they intended to do: Consolidate, then "facilitate additional financings" because the shares have enhanced "marketability". What else do we think that means.
QUOTE "such consolidations may enhance the marketability of the Common Shares and could facilitate additional financings"
What else is money being raised for, via road shows and consolidations?
No way to know, since investor comms remain sealed tighter than a Scottish nun's furry change purse.
Liking the humour interjection Noob!
With you on the beer also...but not overly worried.
That often spoke of, 'twinkle in his eye' moment. If you watch in HD, you can zoom in to his eye and see the reflection of Kate's new diamond belly stud...flawless!
I for one, will travel any where on the planet to attend the next AGM.
Chocolates or tomatoes - I am undecided.
Big dip on monday if no cracking news.
Back to DNFIU level again....
They were talking about future financing nothing more and all companies need to to this at some stage to grow. I really don't think that at the current time there will be any placing. He has cash for the moment and i think he wants things to settle down and doing the consolidation will actually help that. Just my opinion. We will see Monday.
Thanks CawCaw, if it’s official then it’s official.
LB can you honestly say it wont go lower ? Not so sure about that , nothing good seems to come out of this , its painful
So you are saying this recent selling was not just to do with past placing shares, it was a lot of favoured investors who have been told about an upcoming placing?
Now I'm as pessimistic as the rest of you.
But is there a simpler scenario where Art talks to institutions and they say we'd like to invest but not with 16 billion shares, get things looking a bit more respectable?
I can’t see any official filing for this in sedar. Cawcaw where gave u seen it please
Are companies allowed to do secret placings, forward sold by placees?
No SEDAR no RNS. Not even a Tweet.
Good thing we have two full time investor relations companies on the payroll