Member Info for Daceon

It's a complex situation. On the surface this seems like a great deal but there is the suspicion that AM may not be able/interested in providing shareholders with a good return.

I am banking on the fact that he will have made certain assurances to get the funds he needed (both to ii and hnh) and that he would far rather be remembered and celebrated as a success than someone who simply cheated shareholders out of their money.

The placings were necessary so we should get over that.

It's what happens next that matters.

I wish you every success Art as I have a large investment here and believe that after all this time this is a great opportunity for your company to thrive. All the best getting this closed.

It's the calm before the storm - nothing to report but we are waiting

Thanks so much for making me laugh out loud on a cold January morning CawCaw

In the absence of news of course we will all question what is going on in the background. There is a great saying regarding conversations - the first half hour deals with important facts, after that it's feelings and emotions. i think, while waiting for the real news about what has happened with Atomic - there is understandable fretting going on. Other companies get trasnformational news and rise by 150% We have simply seen a steadying of the price due to the doubling of shares in issue.

Important points:

Yes AM has diluted the shares however I would think that most of us are happy with a steady .27ish than floating down and testing .17 again
When atomic news arrives we will either make good profits or not.
AM now has reasons not to dilute - the HNW and II will surely have been assured that their money would be worth much more within 6 months. Especially Hadron as this is the basis upon which they invest!
The PSC should come - no guarantee - but every reason to suspect it will be here first half of 2021 (possibly any day)

I have no illusions and I have a get out target. I believe I have every reason to expect to hit that target in the next 12 months, dilution or not. At least the dilution is being used to buy profit making assets which will make a return and eventually help me to reach my target. I think it is worth noting that too that as the mkt cap grows the dilution will be less painful.

What's Suhail?

I'm no expert but this is a pivotal time for the company. Huge growth in the number of shares bouncing around, news incoming hopefully, a general lack of good relations between LTH and BoD, more transformational news expected.

You could do a brilliant Netflix miniseries about the whole thing.

but....

the payoff in 3 weeks/months/years looks very good if things go to plan.

I'm quite surprised the price has not dipped bearing in mind the placings!!! That's a sign of the confidence that this will go well.

Thats exactly how I felt about those two raises - a proper 3am kicking outside a nightclub.

My head knew why but my gut hated it.

I contacted Cathy afterwards and was satisfied by her response.

The entire proposition has changed here. Has this gone from hopeful punt to likely mid tier producer? That's some value play!

.28 on HL

10% a day will do very nicely until we get final confirmation that the deal is complete or the PSC lands

Here's to a good day everyone. One of these days this is going to move. Will it be today? :-)

Yes, the TR1 is a very good sign of confidence. A strong signal that this might be the last week we will get in at these prices so took another 2m @2.468. Fully loaded and watching the stars align.

As you say this is a time of transition. I think that the placements and a general lack of clarity in how things will progress will lead to volatility in the near term.

Once the debt is sorted and fears of further placements are abated then we will see that price start to move.

I would to be wrong but I think there is going to be very little price excitement until those concrete RNS's land. Which could of course happen today :-)

I can't imagine that AM was able to raise that financing without a good deal of confidence that things were going to go well and those investors won't want to see further dilution.

Thank you for all of the great research and thoughts. Next week is going to be very interesting, even without news. The demand is certainly there.

So it's in your hands Art. We have trusted you with the money....

NOW...

SHOW US THE MONEY!

Just had a very pleasant evening watching Jerry Maguire with my good lady and a few whiskeys. My comrades may I wish you a pleasant weekend and a profitable week to come!

Huzzah!

We must be going places because people are properly falling out now. i for one am happy that we actually own something.

Getting ripped off? We are revenue generating today, tomorrow and for the next 50 years.

I'll take that, the PSC, the drill dates and another African company, stick them in my pipe and smoke the whole lot like I'm Bilbo Baggins

Excellent Shaa. All the best everyone! GLA in the coming weeks!

I am with you on the frustration over placings. My suspicion is that they have been forced to go through equity because no-one was game, at such short notice, to take this debt on without the company taking over showing they had decent working capital. Who is to say that the $8m won't be allowed in the debt financing for working capital? I see your point and frankly another placing would leave me furious but this is breaking new ground for COPL. There's bound to be an element of piecing this deal together based on feedback from the finance companies. Charlie's quote from the RNS "COPL's access to the equity markets has provided much confidence to debt investors with whom we are in discussions with to provide the balance of funds required to complete the transaction.

Would seem quite binding to me. Not a hint but a clear statement that the balance of the transaction is intended to be debt financed. We will see but I am confident this is what is intended.

Watching intra day is terrible for my nerves.

A month ago we were hoping for the jackpot - the literal lottery ticket game.

Now we are a an early stage producer with revenue and a prime asset with some wildly profitable possibilities (if Nigeria etc happen)

Where would I rather my money was?

The first placing was hard. This is sort of expected. I think that talk of 20 bags is great and still very possible. But would I rather be part of a company where a hope and prayer of 20 bags is replaced with the very strong likelyhood of 4-5 bags in a few months.

That's the payoff here. It's not great. But that's what Art is likely to do.

But give it a year or two and a 500m Mcap is possible. Once we own 100% with debt financed I can't see more placings being excusable.

This is about to explode. let me be the first to say it... you wouldn't want to be out of COPL over the weekend :-)