Member Info for Carribean2029

This is certainly not hanging about; decisive and straightforward. A major win for PRE and clearly got UK gov blessing.
Whipped has been cracked!

Yes. This is fantastic that they are driving this forward with potential partners being actively sought

The bulletin board on hot copper adn site is a bit lively at the moment; trading halt is creating some speculation and itchy bums.
I did note one comment that made me grin ‘
The Eyre peninsula farmers whispers have this as massive gold deposit news is spreading through the west coast’
I’m still awaiting my sister to speak to her friends in Wudinna- she’s useless!

Agree; I’m not sure they’ve ever had one, so it’s a misnomer right now. I know their sp is a bit on it’s derrière, despite large mcap. Tbh, I’ve not spent much time researching the owner, which is poor on my part. Mea culpa

I’ve gone through 69 pages of Andromeda metals ASX announcements today; it’s interesting to note that announcements we have issued in relation to Wudinna have been followed up, the day after, with an ASX announcement from andromeda with positive encouragement.
However, not so for the Stage 1 completion nor the Clarke results announcements. Interesting insofar that I can’t draw any conclusions from this, as yet.
Perhaps I’ll be checking later on this evening when ASX opens.
I note also it created a fair bit of interest on the hot copper bb. All speculation, but inference that we took them by surprise, given we had until 31st December to hit stage 1. Then Clarke following shortly thereafter. Trousers down perhaps?
Who knows?
Eyes on ASX this evening then, eh?

Morning Michael,
All good thanks! Hope you’re staying safe?
I had the fortunate experience of watching a rapid Covid test last night - other half is lead nurse at local hospital and has to screen twice a week at home before going to work. Having just returned from London, it was necessary. It was like the old fashioned pregnancy test.....quite impressive. Results in 30 minutes. Can’t wait for the snake to produce this turnaround on test results!! Ha ha!
Anyway, it occurs to me that the reason this is called cobra....the gold snakes all the way from BG, through Clarke and all the way through to barns and white tank.....

Hi Eva,
Thanks for correcting your AIM comment.
You should do what you need to. You hold a nice pile, similar to many others here, and I remember you’ve popped in and out of this before.
I’m not going to criticise or suggest you do anything other than what you are comfortable with; it’s your strategy, your money, your decision.
I’ll repeat, however, what I’ve said a tonne of times beforehand, and that patience is required with this share. It’s not a producer. It’s an explorer. It comes with significant risk; risk manifested from uncertainty in results and subsequent perceptions of said results. It’s at the whim of investors and their interpretations of said results, coupled to the micro-economic desires attaching to said investors.
Cobra’s unknowns are more than it’s knowns, thus investor uncertainty is exacerbated in a news vacuum and can lead to investors losing heart, patience and faith, just as you have indicated. It’s a natural reaction.
For the record, I’ve not really made any significant gains in cobra since my first best early tranche at 1.56!!! I’ve averaged up and down all the way to a 20% gain overall. I’m in no hurry. My retirement at 55 coincides with cobra’s timescale, so I’ll sit this out for 4 more years before I begin to get an itchy bum. But that’s me.
But why? Well....
1. It’s main market
2. It listed with the help of MNRG, whose NED at the time was Gervaise Heddle (Ggp) - immaterial really, or not?
3. It’s got a small share register of large holders, meaning it’s well below radar.
4. It’s got 50% Of 211,000 ozs and growing, both resource and likely proportional stake
5. It’s in a friendly jurisdiction
6. It’s testing pathfinder and is based on good science (albeit yet to be proven) but this could become the norm.
7. Newcrest own royalties on this, so there’s a direct line
8. We are fully funded for next year with further warrants to top up
9. The warrants are only triggered at circa 60% premium to where we are now priced.
10. The NED options are triggered north of 3 pence
11. Sorry, I forgot to mention we have four IOCG targets, after all, I’ve hardly mentioned the gold.
12. Why would a company list main market, at additional costs, additional DD, just to raise a few million quid? It would be so much easier (and normal) to just go ASX or AIM and rinse and repeat for ten years and plod through their drill campaign with a pipe dream.
13. MNRG are still holding some shares, albeit below 3%
14. I’m waiting for more data. I’m not making any decisions without further data. How can I make an informed decision without it? Preemptive movements on my part would be like me jumping off a cliff not knowing if the tide was out or not.

These are some of my thoughts, having been woken up to go collect the other half and her buddy, from Poole train station after they’ve had a day at the Ginstitute in Portabello Road. Now I’m wide awake having listened to a Gin-head!
I revert to my earlier point, however. Yo

Dry land,
The algorithm decides if it’s a buy or sell based on closeness to bid/ask; it gets it wrong a lot of the time. Don’t see shadows that aren’t there and don’t be encouraged by others to see them

Hi Curn,
This is my largest single holding too.
To keep t short, no I jumped in last week when I could see the turnaround coming.
Sorry to answer off topic
Caribs

Well, I started the week with a post, I've filled mid-week, so I may as well close off and kiss myself goodbye for the week.....

I'll agree there DTM,
All coming together now. Michael Fleming will be happy today - he always likes to see Blue Ink
Curn, nice to see you over at RMM. Did you jump in big or just your toe?
I think this has been a strong day, a day of consolidation, and yes, it would seem that the conversion of warrants and subsequent flipping may be over for the meanwhile, although, no doubt, profit taking will come back into play above 2.8 on the Bid.
Next RNS awaited....patiently of course.
Have a good weekend all.
Caribs

Curn,
Good to see you here too. It can't be all bad, you've got Cobr in your bag?
Caribs

Agree Oiltap,
You beat me to it

The reality is that everyone should have their own exit target. Not based on anybody else's view. When you have your target, you should exit. Simples.
The fundamentals for each investor are different, based on time adjusted risk, affordability, perceived value, intellect etc etc.
Use the BB to glean good information, not to listen to dave down the pub.
Make your own choices, decisions and live with them.
But do your research. 1 hour per month at least on every company you invest in.
Another 0.25p worth from me
Caribs

Tarquin
It’s important to note that the nominal value of the share is its issue value. It generally bears no relation to its trading value.
In this instance the nominal value of the original shares was 1p, but it was trading at less than that value, namely 0.22. Thus no new shares could be issued.
So, they split it.
0.01 and 0.99
0.99 became deferred with no rights and will be cancelled.
New nominal shares issued at 0.01 (below 0.22) thus allowing new issuance.
On 8th December, the deferred shares will be cancelled.
Only the remaining 0.01 shares will be in existence. These will be traded at their face value of how the market (buyers and sellers and mms) decides.
It’s unlikely, in the near term, to see a consolidation (a 1 for 100 swap) in the shares back to 1p nominal value, but who knows. It’s just maths really.
I hope this helps.

The Companies Act 2006 prohibits the Company from issuing shares at a price below their nominal value. As the price at which the Placing Shares are proposed to be issued is below the current nominal value of 1 pence per ordinary share, it is proposed that the share capital of the Company be sub-divided by each existing ordinary share of 1 pence each ("Existing Ordinary Shares") being divided into one new ordinary share of 0.01 pence each ("New Ordinary Share") and one deferred share of 0.99 pence each ("Deferred Share") (altogether "Share Capital Reorganisation"). The Deferred Shares will have limited rights and will effectively carry no value.
The Share Capital Reorganisation will not change the number of shares held by an existing shareholder of the Company, just the nominal value of each share.

Hi Earl,
I don't wish to appear to disagree with your analysis; so I won't. I will, however, add that the FUNDAMENTALS of this business just changed SIGNIFICANTLY. Ignoring all your external reasons as listed in the post, many of which are beyond the control of the company (except production), the real reason this is a fundamentally better buy now at 0.25p than it was at 2.5p is that the company is no longer servicing unmanageable/unprofitable debt. The shareholders previously were saddled with a revolving credit problem which was eating into profitability. A cyclical internal issue which would never diminish, no matter what the external factors were. Covid just brought this to a head.
The company is now debt free, sure it's dilute compared to earlier, but it's burden of debt means it can expand and contract with positive cash flow and respond/anticipate external factors rather than be at their mercy.
This is now a business which can look forward in a few years to striking a healthy dividend, rewarding shareholders, rather than giving them reasons not to do so.
Onwards and upwards from here, no matter what copper prices do, to be honest. It's standing on its feet on its own, with a decent CEO to carry the company where it has always aimed to be.
My 0.25p worth

Yamsel,
Anybody’s guesstimate.
Mine is that many are forward sold, many are at brokers and many are locked in.
It’ll be a few days before the backlog moves through the system. Unlikely to see mega returns until new CEO proves (and he will) the sense in him holding that position. This will be in the next qtr reports, hopefully. It should crystallise the restructure into a company that everyone here is talking about. It’ll just happen one day. Change is underway and every day of the processing from herein will add more weight to the sensibilities of this restructuring. Just hang in and hold tightly.
All my opinion.

An absolute Disgrace Jilted John....
:-))
Needs must. Good luck on it and get back here soonest

Hi Richy,
I think the crucial thing is that we manage it, which we do, even at 50% ownership. Last thing we want is a committee that can’t agree. Better to have absolute control even by 1%. So I’d prefer 65% and above, but I wouldn’t be disappointed at 50/50, as long as that management is not split on the fence.