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161 bonds outstanding not 181 gives 394m if all converted not the 443m …. Not much difference but every little helps
2024 bonds last conversion rns 17/2 said 50 outstanding
2025 bonds last conversion rns 7/3 said 43 outstanding
New bonds $13.6m @ 200k clips is 68 outstanding
20 difference between 181 and the 161 I have it as ….might be the 20 converted on 7/3 rns?
Also facts
The Rbl and JV may produce some cash to allow us to pay back some of the bonds in cash, we can’t do that unless the senior lender is paid back
The conversion payment is done on a 5 day vwap so that is really difficult to calculate at the moment , especially as it’s timing related to what interest has been accrued. Not sure you can use a historic calc to say what that will be with any degree of accuracy?
So there is also potential for less shares to be issued also
120m outstanding warrants would see c£8m come into the companies coffers not too shabby when you consider the current market cap in c£17m
I don’t doubt we will be diluted from here but saying over 1 bn is just a guess at the moment
I don’t think the rbl or jv was mentioned
enough in that rns….nudge nudge
wink wink
“…….while allowing management to optimally conclude their RBL and JV negotiations.”
“The aforementioned changes improve COPL's capital structure profile benefiting current RBL negotiations”
“…….on the back of this Convertible Financing while it continues its debt refinancing and joint venture discussions for the development of its Wyoming assets”
“…..these measures increase COPL's working capital and afford COPL a solid footing ensuring the best possible outcomes be negotiated for refinancing and joint venture.”
“These reductions facilitate a more efficient cost base, without sacrificing the strategic and operational aspirations of the business, enabling management to conclude JV/RBL negotiations to the best possible outcome.”
“….. this raise supports the company to an intended RBL”
FinallyRetired - Agree share price is and should be of little concern to BoD's at the moment. Getting capital structure of the company sorted off the back of the new reserves report (due out soon) should be no1 priority.
Share price will be what it will be once the company's finances are back on an even keel
Control the controllables
Disagree with those that say their is a lack of transparency at the moment - there's a 300 odd page prospectus that gives a "knickers down" examination of the company... might not say what people want it to but there is enough detail in there for people to make their own decisions.
Dusthater - that rns says they are making good progress with bond holder to take some more bonds. And give copl more funds. Bondholder doesn’t have any security over the assets…..you telling me that a hedge fund puts more into copl with no security on the basis they think they are going to go pop?
And the rns doesn’t tell you much! I give up ……
Grizzle - ASX notice doesn't say to Monday just temp suspension -
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02641681-6A1139995?access_token=83ff96335c2d45a094df02a206a39ff4