Member Info for Daceon

Congrats to the LTH holders here.

Good luck everyone! I wouldn't panic about not getting a 300% rise in one day.

This is just step 1 - banks agreed
Step 2- 20% signed sealed delivered
Step 3 - 27% taken up
Step 4- revenues from ore shipments and regular updates on progress.
Step 5 - production

The value has a little bit yet to go to be fully realised. I'm sure that KM will manage the newsflow well. That £1 party is only a few RNSs away IMHO

What a lesson this last year has been! All of the hype around the takeover and the relist etc has given way to some realism about what is involved in turning this asset into a profit making business. I'm sure that the previous owner did his very best to make things work but with a limited budget and a broke partner they just ran out of time.

Art is probably up to his eyes in trying to manage the circumstances surrounding increased flooding/pressures/discoveries/leases and we can all be hopeful that the team there have the funds and the wherewithal to manage the situation. Updating us every week is probably right down the list of issues as they try to manage the many threads that will come together to make the settled, profitable, growing company that we hope we have invested in.

Things being uncertain most likely does us no harm in securing CUDA too.

Boy it's a kick in the nuts though when you think about all the hype that surrounded this takeover.

The likes of CawCaw are right. It's a good prospect in the making but it is a long journey that requires trust and clear communication from the company that is being invested in. For the moment that trust is gone from the market. Better to be clear and realistic about teething problems than fudge stats and raise expectations to only disappoint.

Have a happy, safe and peaceful Christmas everyone :-)

Look the traders got this one right and I'm sure they have made a good deal of money. Good luck to them - it's a risky game and they have done well here.

Hopefully from these lows we will start to see a good return.

Production growing (yes there are challenges, but challenges that create opportunities) CHECK
Nigeria still very much a possibility CHECK
In the running for purchase of CUDA CHECK

The price is painful but I've resigned myself to expecting £1+ by end of 2022 and I don't see any evidence to suggest that this won't be the case.

It is very important that we have regular updates. Once we get the skullduggery surrounding CUDA/hidden reserves/drilling updates done then we should all be able to expect regular updates thorough RNS of what is hinted at in interviews and emails.

Let's hope that 2022 is a year of transformation for the company, our investment and yes the companies relationship with PIs.

Hi Panamabob

I know it feels rough but things are so bad at the moment in terms of value its hard to imagine it getting any worse.

End of 2022 you should be able to get out with at least your post gains back.

Unfortunately the board is really toxic now with confidence gone and radio silence from the company.

That will change as all things settle and production grows. It would be great to get a bit off reassurance from the company but we can only hope Art is saving up for a big reveal.

My goodness this is depressing.

2021 has been a very shaky year for a lot of small caps and I think that the general buzz about potential has gone out of the market. Look at AMTE today - a good RNS, working with BMW, automotive battery space etc. Q4 last year this would have bagged but now... meh 5%.

I'm afraid that we are going to be stuck here until we get actual production figures that warrant a rerate and all of the drama over CUDA settles. I understand that Art did the raise to put in a bid for CUDA and should it come off then all will be well.

I have a lot of my saving tied up here. I'm a conviction investor and I still believe this will come good. But I am way way down from the relist - i haven't traded this at all.

Mediocre outcomes from the drills will see us make a sensible recovery in 2022. Good results? Then we will all be dancing our way to plumping out our pensions.

It's all in your hands Art. Many of us know what it's like to have a kicking in business. Your story is one of the reasons I am invested here. I love a comeback story. The value of this company will be your legacy.

Here's to 2022 everyone.

Like the website.
As with any process there will be tweaks and revisions but so much good content in there.
Really like the video.
Onwards and upwards.
It's going to take months not days I think but happy that we are moving forward as expected.
All the best to Arthur and the team - I get the sneaky feeling that making this a 500m company is looking more and more realistic!

34quintadolago

Amen to that brother. I can't believe we are here -everything about the company says we should Be holding firm and indeed consolidating at a good price.

I though we might be forward selling a placement - it's happened before. Art is single minded on building his company no matter the short term pain for PIs. We can only hope he succeeds and that long term those all important production figures hit encouraging levels.

Now we have experts on COPL crawling out of the woodwork creating FUD all over the place.

This is shocking but nothing has fundamentally changed from 2 months ago. It's up to Art to give us confidence in his leadership by posting good results each quarter.

I reckon that I'm willing to wait 12 months for it to work out.

I too have had enough of the wheeling dealing. Let's hope we can now just get on with great production rates and quarterly growth.

I did say that I didn't mind a placement for CUDA and that's true. We need to hold on to our cash to fund development of the sites. The last thing we want is our cash reserves gone.

Surely this will be the last time for a placement though? Let's have a few profitable quarters so that the SP can have a change to bounce back. Then we will have a firm base from which to launch further ventures, properly funded by cashflow. Ventures that do not involve further dilution of our collapsed investments.

I don't mind waiting a few years to get to £2-3! Thats a good return, even for the slap in the face that the share performance has been so far since relist. But what chance of that happening if we just keep printing wheelbarrows full of shares?

Look we all know that some folks have made good money here at trading. Good luck to them.

Those who want to invest have a rollercoaster 12 months ahead but as we all this volatility might swing our way during the next 12 months

Painful but not unexpected.

Very good update. Thanks Art and all the best with the next steps.

The company which COPL took over was called Atomic Oil and Gas. Atomic owned 58% of the interest in the wells and lands along with recieving operating costs from CUDA (27%) and a smaller 3rd party CNOOC 15%. Getting CUDA for a reasonable price could be of great benefit to us and long term give CUDAs lenders the best chance of getting a return on their investment.

We are where we are.
£1.50-£2.50 per share will do just fine next year.
GLA LTH.

I wonder if the issue is that we aren't at the 10m mark where a bit of good news moves the price a lot.
At approx 50m it's actual revenue that's going to seal the deal here and see the rerate.
Expectations were high for Q3. I reckon operational update for Q4 should see further and greater improvement and begin our journey to mid cap by end of 2022

I agree Brel.
Timely figures and a transparent, itemised update speak well of a company making the necessary adjustments to prepare for mid cap status.

As promised exciting news short term too. New equipment and wells coming online in days/weeks.

Thanks Arthur for a really great update.

Exciting times ahead.

On a lighter note at least we don't have to worry about being wildly over valued before our respectable interims :-)

No problem Noob.

I'm certainly no expert but have tried to have a realistic view here since being gutted that we multibag in August :-) I've now got a very long term view here.

My understanding is that the lenders were hoping to get a high valuation for Cudas assets based on potential. I think that our quarterly says the asset is valuable but requires skill, investment and strong partnership. Not only that we have our own legal case against Cuda. I do think that will encourage a forward looking deal to be done with us.

Hourly that explains my view.