Member Info for BigBear2

Jeez just saw tha 0.33p Art has really stuffed pis over this time

To say today’s re issue of news is not a significant event is somewhat foolish. It will only be insignificant if they get it dismissed. COPL simply cannot afford a legal battle if there is only 2 months running costs left. Is it an insurmountable object certainly not but Essar are going to want something I would think to drop this... So whatever is coming I would imagine is going to. Cost us in some way.... And it’s alao one of the main reasons I have been banging on for months that art letting finances almost run out is a bad idea because it exposes our rump to this kind of nonsense .... If we had 2 mill or so in the kitty right now things would be a lot rosier....

Dreaming is waiting for something intangible to happen...
Here we KNOW that there are valuable assets in the ground that are going no where.
Discussions are on-going to monetise one OR MORE of these assets...
BOD have been approached by a 'major player' for early exposure to the iron asset....which is HUGE.
At sub 10m mkt cap that's a buy for me thx....

I can see quite a few on here pretty stressed out.

With so much at stake this was never going to be simple.

This needs clearing up sooner rather than later so It’s time for Art to earn his corn…

Short term funding (either by placing or some form of loan) needs clarification and this needs to either be dismissed or addressed in short order..

Nice find....
Great to be in a share with such valuable assets...
We are just awaiting the firing gun lol, C'mon new BOD!

For me, just feels like someone is trying a dodgy trick to steal the family jewels!

I have to admit yesterday I was mainly focussed on COPLs cash position so missed this and I think if most people are honest so did they as there was no discussion on it.

Having had some time to digest it my thoughts are as follows:-

• Timing – I agree with others this has been raised now as COPL are making progress
• Motivation – Why raise this now when the finish line is in site – I believe this is due to the fact COPL are making serious headway
• Leverage – They know COPL are marginal on cash (approx. $1 mill USD), so IF they do drag them into a legal battles it’s something COPL can ill afford

Just my thoughts on this, for the record I am holding whilst this plays out (avg 0.51) but IMHO the waters just got a little muddier.

SP is holding up well so far…

NE there is a big diff between having something material buried in mgt discussion and front and centre in a Rns... hence today’s re issue.

Guys there is no other way to paint this other than a dissapointing development. As someone else has posted likely back into the 0.4s today , hopefully not for long. The market hates uncertainty and that is what this is....lets hope for a swift resolution.

It would seem was spot on to raise this as a concern.
I have to admit I find this somewhat unnerving and should the situation escalate and not be resolved amiablly as Art says this is an. 11th hr nightmare.
It would seem such disputes not uncommon in Nigeria, SLE for example although a bigger player are involved in a similar dispute...
I guess the simple question is are Essar trying to use the funding delays to gain the ownership back or are they simply frustrated that things have been so slow.
Things in COPL never boring ...

Lol u have a short memory this was bought on mass a few months back (Glancore JV rumour).
The bare minimum news flow is the DFS for the ferronickel, NAV $100 mill.

If you think its long dead then why waste your time here!

There is no reason to explode tight now...

For those with a bit of patience buying in b4 the herd at or near bottom then watching the herd pile in is the preferred tactic.

IMHO 0.5 is the bottom and a discount of 20% to what IIs paid will quite nicely thx.
There are multiple catalysts that will see this multibag and assets that have a NAV of $300 mill plus a working port
only require a fraction of true value to see this in the pennies..

Tick up....
remember when this goes it goes up in lumps...

Much as I would like to believe we would be drilling by xmas I would say that is very unlikely...
Not because of Art/COPL, but due to the mind numbingly slow pace of bureauracy in Nigeria. Art has now learnt this and in latest interview said drilling would be in Dec or in q1 next year.

It's important to understand this when investing here and not get p9ssed off if the drill bit has not been sunk in by Dec.
Personally I am expecting it to happen around March and will be pleasantly surprised if it occurs before then.

We have a few hurdles to jump first

No 1 is to ensure we are funded to mid next year...I would actually like to see an OO to shareholders on the back of the placing(similar to what Solo have just done).
What I don't want to see is a ramp that allows forward selling then poot b*ggers locked in well above the placing price.

Once that is done we can then let the process take place and not stress about the snails that are controlling COPLs fate.

He ain't gonna get NNPC in 2 weeks he will only have presented the FDP by then that will need to be read and go through the necessary approval process.
I don't believe he will leave it till Oct and as I posted I believe he thinks the incremental news flow will allow a higher placing price.

It's on the COPL website 1.7 mill end of June..

Yup just read that so with cash bun of just under $400k a month by end of Aug we should have just under USD $ 1 mill meaning cash will run out by End of October.
I believe Arts plan is simple - announce the service agreement and hope for a spike that will allow a placing at a higher price...
Let's see..

They would have took 1.4 mill @ 0.5 yesterday from me. 4 mms on 0.5 bid vs 1 mm on 0.52 ask would usually indicate minimal buying pressure would tick up... Regardless this just needs news, bulk sample shipped port sale jv presidentual ratification all due

On L2, they will take 1.4 mill in 1 hit, plus its 4v1...
They defo want the shares....

Strikes again...
You gotta love this guy just as the sp is recovering boom holders are forced to take a stiff one first thing in the morning again.....