Vox countdown No.1229 Dec 2022 17:55
12) Canadian Overseas (COPL): 18p Target 40p
There was little trepidation in terms of including Canadian Overseas in the stocks for 2023 collection, if only because one suspects the company is marmite as far as many investors are concerned. A combination of the wait for it to get to its “promised land” and perhaps the somewhat John Wayne persona of Arthur Millholland, President & CEO. However, it would appear that as we end 2022, the “Stagecoach” is finally heading in the right direction. We have been helped by the latest announcement from the company regarding costless hedge restructuring, and November’s production increase update. Having at long last closed the Cuda acquisition in July, it seems to start 2023, we are in the home stretch as far as COPL’s executing on its multi-pronged strategy. In fact, the shares seems to be responding to this prospect, actually set to close slightly up on 2022, quite an achievement given how dire the year has been for many. I chuckled to myself in writing this update on the company in the aftermath of a comment on Twitter that hardly anyone on social media is talking about the company. Such social media capitulation is very often a positive sign as it can indicate capitulation on the part of the bulls. With the market now waiting on early 2023 news regarding a speculation of V partner, a buyout, debt restructuring, one can say that this situation appears well poised, with negatives most likely already in the price. Now that tradevol and ironside are bullish, it is time to buy'
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