Member Info for Crocqman

I have been 'blinded by optimism' on other shares, holding on until it's way too late, not cutting losses for fear of missing out on that big reversal of fortune. It hardly ever comes.

The reality is that with shares like this, the majority of time investors will lose out.

Not that many will make returns in the long run in small caps, ignoring those occasions where hype comes into play causing sudden, but unsustainable big rises.

I see a business here, but do the finances mean it will be a successful one? Arguably, it is a success, but in terms of profitability, cash generation, contracts, performance, the measures that the market will ultimately judge the company on, we are still waiting on that as shown by the current SP.

It definitely is taking longer than many here were expecting.

I have a more modest SP target to some, 6-7p seems realistic in the short term.

Quite often, trading is the best play to make money in small caps vs holding long term, but everyone has different strategies.

And yes, the management should of course be held to account if targets, milestones, etc are not reached, kicked down the road, etc.

I continue to hold, no interest in adding at any level, but will look to take profits at the earliest opportunity.

gla

I say this on many boards, the direction of trades is often incorrect as it is never released at point of execution, so is on a 'best efforts' basis.

Unless they are big trades, it's not really worth worrying about.

Much more important, imo, is volume rather than individual trades, or signs of a pattern of trading

19th March RNS stated that agreement had been reached on financing and documentation expected to be completed in the coming weeks.

Reiterated in the accounts this week regarding being at the documentation stage.

I am expecting them to formally announce this by the end of next week and the share suspension to be lifted by the end of this month by the wording of these 2 announcements.

Some semblance of trust and delivery on suggested timescales required to show they have really turned a corner here.

Delays and excuses no longer acceptable

It's pointless Sageman.

BP merely goes from negative to another, constantly pushing a negative angle on anything and everything.

You can bet that if the shares come back from suspension and the SP goes up he will continue with the same as well as find something else to bang on about. Negatively, of course.

Clear up one matter with facts, and that gets replaced with some other gripe, before circling back to the prior matter to continue the circle again.

I can see all this even with him on filter for the past few years

I can't see anything here, or from the previous Operations update in February to suggest anything other than having patience and letting the team get on with their work.

All is progressing and the financial side will come together.

Still an element of risk, of course, but that is diminishing, despite the long timeframe to first production.

Project financing is the next big milestone that will drive the SP. No indication of a timescale, but this should not be too far away based on previous updates.

gla

To be honest, I know nothing about the company this guy used to be CFO for, but it seems quite simplistic to say that he was CFO for a gold miner that collapsed during a bull run for gold, so he must be incompetent.

There will be many similar examples across multiple different commodities that just haven't worked out for one reason, or another, so this doesn't tell the whole story.

Just look at the number of small cap explorers and producers of gold, oil, lithium, copper, tin, etc that come to nothing for various reasons.

The current management have navigated a difficult and problematic period that has greatly impacted the financial stability and credibility of this company, so let's maybe give them some benefit of the doubt with regard to appointments to move the business forward.

Delayed accounts have been produced and signed off, near term funding secured and share listing brought back from suspension prior to this appointment, so what exactly are you expecting a new CFO to do that you think is so risky given his past employer's history?

Any reasoned arguments vs the current (seemingly) knee-jerk type reactions would be appreciated

Dunijij, you're right, there is not a lot known about the CEO.

Not sure he is the person to drive the business forward, maybe more a steadying hand to get the company back on track after the last couple of years.

Let's see what news comes out in the coming weeks/months after sorting the near term finance, getting the accounts signed off and shares relisted. Not an easy task, it has proven to be, so some kudos on that and getting to this stage is at least in order.

We can judge the appointment more on future delivery, but it may transpire that a more experienced hand is bought in at some point either to work alongside, or to replace, to build on what should be considered a successful return to trading

It works both ways, rick.

Accusing another poster of being 'obviously very ill with a mental disorder' doesn't paint you in the best of light either.

Ok, take it up with Admin, but leave the rest of us out of it.

Announcing yourself on this board with rocket emojis and dollar signs and telling everyone you are not here to make friends hardly gives you the right to tell everyone what they should think and do in relation to other posters.

Stick to commenting on the share, perhaps.

For the record, I was not one to like the comment. I just filter those who are not worth bothering with.

Good luck with your trade/investment here

Agree, Sageman. Just typical of BP's totally transparent and severe anti Angus agenda to suggest that posters here are revelling in a war due to the benefits to profits and future SP here.

Talk about hypocrisy, with all the Angus are in default, technically in default chat day in and day out and the deliberate misinterpretation of factual information to twist any negative out of everything thing here.

One rule for his posting and a different rule for everyone else.

Glad I've not been in a position to read any of it for a long time.

What's happened to 'my truth' OofyProfessor by the way? Seems to have disappeared of late. Strange with all the recent good news and things to be positive about here

The extra 4m received via a grant may give them more leeway for the original timeframe, however with interest rates now expected to rise, and possibly multiple times in the coming months, hopefully it is not left too long

From the 28 Jan 2025 RNS in relation to the fundraising (under CUSN):

The Fundraising is expected to provide financial runway through to the end of Q1 2026 with project debt finance to be arranged before then and a final investment decision expected at that time.

Additional local grant funding of circa 4m was received following the RNS of 11 June 2025.

As far as I can tell, the Q1 2026 date has not been updated for a final round of funding (via borrowing), of for the FID, so expecting further news on this, unless I have missed an update

There are still plenty here that bought in at n SP of 100, or higher.

I'm sure they share the joy of those who bought in for a quick trade and to brag about it

Although the company provided updates via RNS on 04/11 and 10/12, hopefully there will be more news forthcoming on offtake agreement(s) and operations upon relisting.

It makes sense that the new management give a good operational overview of the company once trading recommences and details of the fundraising are published.

Hopefully, released accounts will be filed at CH and an application for the suspension to be lifted will happen before the end of next week

Poor form by Angus agreeing terms for it's long-awaited financing at a time when interest rates are expected to rise.

They should wait and renegotiate and agreed terms at a higher interest rate so as not to be seen as profiteering at the expense of their creditors.

That's how BP's logic works, right?

All those are current unknowns.

We are waiting on news for financing which should allow a timeframe on 1 to be clearer (to be debt free)

We won't trade again until news on 1 is released which should then allow the suspension to be lifted.

Once the suspension is lifted, there is no guarantee that the SP will increase. Us investors hope it will, but it will be determined by the terms on the financing, ongoing production and the prices of oil and gas. The green boxes will still be hoping the company fails and all investors lose all of their money just so that they can be proved right with the years of doom mongering posts on here.

We wait

And don't forget BP trying to take the moral high ground by claiming posters are revelling in a war and rising oil and gas prices, despite deliberately posting misleading and outright false information on here himself for years.

Not invested here, no interest in investing here, yet posts multiple times a day, every day, and even weekends. And always having to have the last word.

Obsessed, and unhealthily so.

It was the non-publication of results that caused the suspension. Now these have been released, they can apply for the suspension to be lifted.

It could be back trading sometime next week.

Not had the chance to look at the RNS's yet, but there shouldn't be anything else to prevent the shares commencing trading.

Good to see the progress, albeit much later than expected.

Bogyo,

You have to remember that institutions think very differently to PI's. Decisions are not emotion based. They buy and sell at targets or events and move on. They don't stop and think 'what if' and are generally not interested in the longer term picture. And selling doesn't even mean they no longer like the stock, they may be constrained by portfolio restrictions, or for many other reasons.

Anyone taking profits today at 14 plus has done well. They may come back in if it drops lower (entirely possible) as there are still doubts (fewer) as well as news to give a further boost.

Every one holds for different reasons, different strategies, different time horizons, targets, etc which is what a market needs.

Not worth worrying about what anyone else is doing and making sure you do what is best for you

Stop spamming multiple boards.

Reported

Great to see this news overnight.

Still well down on my investment, but things are looking up and any investment here is now more de-risked than before.

Hopefully, the gains can be held and we can look to push on higher as the project progresses.

gla