The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
You have stated nothing. Absolutely nothing.
“No raise required, read the RNS”
You are talking pish. It says nothing of the sort and you haven’t answered the questions.
“what do they need to do a placing for? It's a RTO”
roger65 - How much net cash have they got to do a reverse takeover and exactly what value would a company that they could takeover have given that cash available?
Where do you think the additional cash would come from (hint from today’s RNS that you clearly have not read).
“The new directors believe the remaining cash coupled with potential access to other funding, if required, is sufficient to explore and undertake any potential AIM Rule 14 transaction, as described further in the paragraph below”
Honestly, the amount of utter f&@kwits that post on these boards is incredible.
Yes, COPL could payback the money received for the bonds (they are structured so the bond holders received a significant premium for just this scenario).
Nobody on here can answer your second question, at least anyone who isn’t lying.
“The name is 'Letter of Intent' , why do you struggle with basic interpretation... etc”
Hurtle - The irony is stunning. Mistyping a word isn’t incorrect interpretation of the underlying information being conveyed.
“Shows its in closing stages. Won't be long”
Utter nonsense. The only thing it confirms is that there is an interest (the clue is in the name - Letter of Interest). There is absolutely nothing to say they won’t decide to walk away.
Why do so many of you struggle with basic interpretation of English?
Coulda, shoulda, woulda. I acknowledge facts, not could be’s and hopefully’s, especially where there is an outstanding record of failure.
And it’s the 21st July. The hedge has already been reinstated.
I said “virtually irrelevant”, which if you understand the unhedged status ended in June and has reverted to $52.87/bbl for approximately 1,000 bbls/d is virtually irrelevant given the last confirmed average daily production is 1250 bbls/d.
But you would actually have to read and understand what you are talking about to understand that.
“I doubt he had much choice in the matter”
Of course he did. He could have focused on making the share the company had financially viable by focusing on getting the fn oil out the ground in the quantities they told us they would and in the timescales they told us they would rather than buying out the bankrupt partner’s share and leaving them unable to service the primary loan never mind the bonds issued.