GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
When announcing the accounts for the year to 30 September 2021 on 31st March 2022 the chairman highlighted:- 1) cash reserves as at 31 March 2022 of £1.23m and stated that there is no need to raise money in the interim 2) an increase in net assets of over £ 3 million compared to the year before. This results from the purchase of two properties (in the accounts) whereas we know from the chairman's comments that we have purchased three all of which have increased in value; also drills have been purchased.
I do not have a handle on the number of warrants still to be converted nor at what amounts but those will bring in revenue.
Personally speaking and not intended to ramp the company I find the article to amount to lazy journalism. Wall Street have a model from which they do not depart but that does not allow for an analysis of how monies have been spent and in the case of ECR does not deal with the rationale behind the purchase of the properties and the reduction in the near to medium term of drilling costs since the company does not need to employ outside contractors given it has its own drills. Also we know that the company has reached a deal with the owner of the Blue Moon land to allow it to drill.
Thus I am not concerned.
It took until the ************* criticism was published for Millholland to bother to release an RNS (which referred to the word "prophets") to the market giving some form of clarification. There was a clamour from posters from 2.30 pm Friday for an explanation, yet nothing until yesterday.
In my view it is worth recognising that the shareholders in the company are in the main private investors and not institutional investors and ask why.
Stas20 - whilst I await the justification which I earlier sought, may I ask you to ask Cathy the following. Why is it that Millholland managed to RNS on the UK exchange the huge find on 10th January at 7am which would have been 12 noon Eastern time, when. on Friday 1st April he authorised the release of the full annual financial results ONLY on the Canadian Exchange at just past 7am Eastern time and did not authorise the release of them on the UK Exchange at the same time which would have been 12 noon. Or am I mistaken?
Stas20 - item 5 in your list refers to institutional investors. With the greatest respect, what institutional investors. As far as I am aware there are very few and where they exist with small holdings. I would be delighted if you could tell me that I am wrong and provide evidence of the names and holdings in support.
Illusion is correct. Although in a different discipline and in the UK and not Canada, where a Petitioner applies in the Family Division for a Decree Nisi of divorce, provided the court staff are satisfied that the procedural steps have been complied, that Petitioner's application together with many others are placed before a County Court Judge who pronounces the Decree. A layman might describe this as rubber stamping but in reality in the CUDA case the administrator through his/er lawyers will apply for an Order to approve the sale and I suspect that application will be heard in the same list of cases as others and an Order made. I do not know if the hearing of the application can be expedited. I hope that helps.
That may well be right Stas20 but the problem imo lies with the CEO who I regard as arrogant, unaware at times of his duty to lenders and shareholders who are mostly private investors. It speaks volumes that COPL has such little institutional support. As a retired professional I would never mislead third parties; I would also honour my obligations whilst challenging those who tried to take liberties with my clients or me. That imo helps build a decent reputation.
Thank you Tiburn for your very helpful posts. Your analysis yesterday may prove right but it will depend imo on AMs ability to persuade a lender to refinance which I think may have to come at a premium. Yes AM and COPL shareholders have the potential to do very well. Let us see how lenders, shareholders and the market respond to what I regard as his damaged reputation. But no fairy godmother is going to come along when in business there are plenty of sharks about.
It would be good if AM were to wake up to the criticism that has and is being levelled at him and accepted that he, Millholland is not the finest thing since sliced bread and he got back on the seat to which he colloquially told those of us who watched that interview, he nearly fell off. In short stay on the chair and think of others and how your actions affect them.
I have followed your posts for the past weeks and noted your caution which has been proved to have been fully justified. May I however refer you to your post timed at 23.39 on 13 March wherein you closed by stating: "that COPL will likely be my best performing investment in the 12-60 month time horizon".
Do you still hold to that view and given the absence of a report or quoted statement from Ryder Scott today and the absence of any independent support for the new "find" claimed by Millholland? If so please make suggestions for the steps necessary to confirm your view. I am in no way being critical of your caution; indeed I am comfortable with you challenging the rampers.
Thank you dougb189 for your analysis of the financial accounts. Very useful. Question to which I cannot find an adequate answer. Page 38 of the financial statements shows the directors remuneration. Am I right when I say that they disclose peanuts or have I missed something?
as fulmar said earlier here is "not the place".
I have not seen you on this thread before today Zaphod. This thread is for matters Rainbow and not for a dialogue regarding the rights and wrongs of USA involvement in Ukraine or other parts of the world.
Please use twitter.
EarlofAim - you have appeared on this thread this and have not stopped pumping COPL. I guess that you bought in this morning. You pumping the stock is unnecessary since there are posters who are more knowledgeable about the company, what it owns and its prospects than both you and me.
Have a good weekend.