Member Info for BigBear2

Wookie regarding the JV my gut says that something has been on the table for some time that Art as CEO flatly refused to accept as he wanted to maintain the lions share of the deep and command a hefty fee.

Realistically we are skint beggars can’t be choosers so even maintaining something like 20-30 percent working interest in exchange for a fat wad of cash and a carry on a couple of horizontals would seem a sensible compromise

That’s my point the funds must have been convinced the RTO was solid it’s a substantial amount of financing at many times ROCKS mkt cap.

I have to admit I am still staggered by this, not so much by Rock who you can understand eyes lit up at this opportunity.

But here we have 3 funds that bought in at a premium and were prepared to fund the remaining 90 percent of the acquisition at 0.5p….

Crazy stuff .

Can we have these over at COPL please instead of having shareholders pants down at the whim of BH the BOD are actually doing something to align themselves with shareholders, impressive.

Better we found out now than if the transaction had completed then sanctions applied

Nothing much changed and back to the grind of proving up assets

If no one read….one would hope that as it’s now a new company that would allow a clean slate for ROCK..

Some of the entities sanctioned include Paloma Precious DMCC in Dubai that channeled over $300 million in gold revenues to Russia. The company is managed by Zimbabwe national Howard Jon Baker, who was also sanctioned Wednesday by the U.K.

Paloma is also managed by one of Baker’s business partners who was not named in the U.K.’s designation. According to corporate records, Anto Joseph majority owns a Hong Kong-registered company that imported more than $28 million dollars worth of raw gold between May 2022 and March 2023 from two sanctioned Russian companies, JSC Krastsvetmet and Polyus Kransonyarsk JSC.

What a mess looks like Paloma may have been processing Russian gold….

As someone posted earlier this will best case mean delays

This farce will continue until COPL can pay their interest in cash as opposed to shares

I will never understand why these companies don’t raise say 3 years of funds when sentiment is sky high

They could have easily raised a few million when the shell drill hit but now we are looking at derisory levels

That’s why we need the bh gone if possible but with Anavio pulling the strings now looks like we see stuck with them

Eazy we just need the jv partner to pony up for a horizontal and things could change in the blink of an eye

On the basis of your logic every unappraised discovery is worth zero

If that’s the case FF Any chance of a real recovery is gone for LT holders.

Resetting the conversion to sub 3p was the last kick in the nuts for LT holders.

If these lot hang around I can’t see this ever getting above 5p which is great for new entrants but dire for LT holders.

All depends on what the nature of the JV is

What a surprise it’s blatantly obvious that Anavio and their chums (smaller bh) invited in on the party) have shorted us at vast profit equity or bond issue being at a lower price than the last….

Hence why we need them gone as part of jv

We have a 2000 bopd break even target that hopefully should be achieved by Xmas.

The main driver here is to afford our interest payments so mr market stops pricing us a a busted flush, till then irs tumble weed

Bolton our only way out of this if if the bonds are cleared as part of the JV. Unless that happens we will be down here whilst they happily short to get VWAP as cheap as possible.

My only grain of hope is roach was worse than am for dilution at perm but eventually the quality of the asset shone through.

For those that bought into AM hype it’s going to be a very long road back completely avoidable if these lot had just done a placing when sp was in late 30s to fund the GGS.

Wonder if this means AM will be squeezed out?

All noise till effect of injection rate increase factored in