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Bolton you are pretty much the only one that can be trusted on this board. Very much feel the same pain.
Maybe there is still hope - just doesn’t feel like it today… it is inexplicable and nobody on this board has presented a reasoned perspective for this turn of events …
Onwards and upwards
Given the current bid/ ask there is possibly another block being worked - couldn’t make it up. One should see this as an amazing opportunity but loss of trust and faith here is relentless.
COPL just give a little glimpse of something positive …. Please!
Onwards and upwards
Sadly Bladderman the purchase price was deliberately battered down just before the agreed strike - the issuance of 8,265,203 common shares (the "Shares") settling $0.3 million of payables to arm's length creditors of the Company at 2.6p per share.
Onwards and upwards
Appreciated Shaa - but how on earth are they even making money at 1.6 - even if they average their sells somewhat higher I.e. selling down from recent placings. That is assuming it is a bond holder given there are large holdings sat with PIs
Shaa - this is a mind f***. I cannot fathom why anybody would sell warrants if your theory (and mine) is correct. I have done soooo many calcs and arrive at very large figures - yet here we are?
I suppose it is increasingly binary on the production and JV conclusion -it is not a pleasant wait - the ask may well fall to 1.6 today - madness !
Onwards and upwards
Thanks Dunk, much appreciated. I think it is less about being risk averse rather optimising opportunity and going in with eyes open - there is quite a disconnect between BB and the size of potential dilution (sadly burnt with COPL so seeking to challenge perspectives before putting hard earned in)
Fig - Centrica - I see what you did there … maybe I could also consider premium bonds or a mattress ;-)
Thanks Joe - completely agree on the pragmatic - better to be solvent and not bust. Absolutely support notion of UK green business BUT the notion of trading facilities, I would suggest, is different to the size of dilution. Whilst the double of the share count maybe absorbed - the warrants lead to more than 1 billion share count if pinnacle cashes is all - but even cashing in 25% would lead to substantial dilution - the extent to which that could be absorbed by PI’s is then my question regarding timing of investment. I will watch and whether invested or not will hope the investment for LTH goes well.
Onwards and upwards
And…
The share count is set to double + warrants. Having been in COPL (once bitten twice shy) - this looks set for a further downward trend. So company saved but value moves from Pi’s to II’s.
“Pinnacle has agreed to conditionally subscribe for 147,058,824 new ordinary shares and has been granted warrants exercisable over a further 880,184,436 shares, with its interest in the enlarged share capital of the company amounting to 80%.”
Really not trying to dampen positivity but genuinely interested in what could potentially be a great green investment - would rather not lose money though in the meantime….
Having read the RNS from yesterday, I am having trouble reconciling the positivity from comments on the BB with the RNS content particularly:
The Resolutions must be passed by Shareholders at the Subscription General Meeting in order for the Subscription to proceed. If the Resolutions are not passed, AMTE Power would need to consider the options available to it in terms of alternative sources of funding. It may be that such sources would not be on terms as favourable to Shareholders as the Subscription. Further, there is no guarantee that alternative sources could be found. If such an alternative source of funding cannot be found, AMTE Power expects that it would only have sufficient cash to fund its activities until late-December 2023. In such circumstances, Shareholders may lose the entire value of their current shareholdings.
On what basis could I be positive about investing with what appears a significant risk of loss - especIally given the track history? That being said, I note stockopedia is a buy recommendation…
Thanks in advance
Tuckman - really appreciating your candid and balanced posting. Challenging the conventions here without fear or favour is long overdue. Based on the journey in recent years nothing can be taken for granted and receiving sustained accurate information from the company is critical, especially any early indications of the MF impact.
Onwards and upwards
Forecast breakeven date pushed back to 2025
The analyst covering Canadian Overseas Petroleum previously expected the company to break even in 2023.
New forecast suggests losses will reduce by 86% per year to 2024.
The company is expected to make a profit of US$10.3m in 2025.
Average annual earnings growth of 119% is required to achieve expected profit on schedule.
I would like this share to return to pre Feb levels as soon as possible, and believed the increased production suggested by Mr Cowan to be a conservative estimate. However, simply Wall Street suggest, unfortunately, a longer road to recovery than I had anticipated (hoping by March 2024 to return to 15p+)
Onwards and upwards
Anavio are morally bankrupt - I suspect all of their grandmothers have previously been sold on EBAY, bought back at a car boot and then sold again. It certainly appears ART et al have lied, lied and lied again entirely conscious they were seeking to artificially prop up the share and many fell for it - which really is embarrassing and has been very costly on every level for so many...
Again, hoping for the best and am prepared to wait for years if necessary... just stubborn like that :-)