Member Info for Doc83

This will almost certainly open down tomorrow. More than double the number of shares now in issue, even if the SP holds at 0.2p, that would be a result if we can call it that.

If they had raised the £2.5m back when the shares were circa 2p, there would have been minimal dilution. And I’m sure most PI’s would’ve been happy to stump up rather than see what’s happened here. No, they wanted the SP decimated so it meant huge dilution needed for PI’s, and many more shares for them. It’s been totally rigged.

“No amount of ramping, de-ramping, name calling or anything else for that matter has any effect on the SP.”

I’d have previously agreed. But I recall Master82 completely misreading some Mongolian news/document back around (I think) May time and concluding it was a done deal. The SP spiked quite hard and it was almost certainly down to that. Sure enough, once it was realised to be a load of nonsense the SP fell back equally as hard.

Anyway, I’m off to have a drink. Happy new year to all, even Prof. Let’s hope 2024 really is our year. We’ve certainly been patient enough.

“Hold on to your hats fellas we are off to the moon !!”

Sarcasm???

I’m expecting it to fall. Even just holding at 0.2p would be a result, given that we now have more than twice the number of shares in issue.

“Let's hope 2024 is a lot better than 2023. Also better than 2222,2021,2020,2019,2018.......125BC”

LOL.

Sakura - just answer the question?

Our CEO is a 62yr old metallurgist, but LH knows better.

LH - I’m confused. You care nothing for EEE but are posting here, and on a weekend to boot. Why?

Please don’t use the “I’m trying to protect innocent investors from getting sucked in” line.

SS - time will tell. But even going down the route you suggest would see the SP fall back, as I believe has happened with TXP.

This certainly is not going to be a straight line to 60p. Or even 20p.

I’ll be very happy to eat humble pie if I’m wrong 😃

Guys, this board has descended even further into chaos. No surprise, so much money lost due to this scam and hurt caused. As a listed company, we at the very least are entitled to expect a fair game to be played and rules followed. Even a bit of communication from our elected CEO and BOD - but no, this is a complete disgrace and sham of a company.

I think for everyone’s mental health, it’s best not to engage in personal slanging matches (I was guilty myself with Dickbat last night when he claimed I was a troll) and just log off from here if need be. I’m sure Art will take some sad satisfaction of us all fighting so don’t give it him.

Again for the mental state, just write this “investment” off. If we get something from it, bonus. But I think it’s lottery odds from here.

30p, 60p… no chance. At least unless we have some completely curve ball event occur that is hugely positive.

I’d like to think the SP will continue to drift a bit higher, then the signature comes and we go to somewhere around 8-10p, maybe briefly even a spike to 12p, before MB announces a raise at 6p.

Sakura - true, the majority of the world isn’t perfect.

But the part about being on a chat board for a stock you care nothing for?

I think we all know that COPL and AM don’t give a hoot about us PI’s. I’m sure they could have done some form of emergency raise/rights issue type exercise whereby shareholders had the chance to partake in this. But no, it’s been kept away from us and we’ve had no choice but to be diluted into oblivion. I see no way back from this.

They have a new deadline of February 29th, by which time they need to have attempted to fire sale the assets, the proceeds from which “There can be no guarantee that… even if a sale was completed, will result in net proceeds to the Company.” i.e. the proceeds will be going to the lenders.

We can only hope that karma does exist and AM gets his just deserts.

Indeed. The part where it says they have to sell assets by end of February but there is no guarantee the company or shareholders will see any of it… because it’s going back to the lenders.

It’s all pretty disappointing and still seems like it has been orchestrated/engineered to go like this.

If this by some miracle goes back to 0.5p (the equivalent pre dilution of 1.2p) I’ll likely cut my losses. I am still not hopeful this will happen. Which means I’m a troll.

Dickbat - I said I thought it would be over. And it still might. I also said I hope it doesn’t for all our sakes. So why don’t you just STFU? We are all still deep in this.

So there’s currently just shy of 1 billion shares in issue currently. They’re issuing another 1.3 billion. So when we were 1p per share, we had a market cap of circa £10m. Now, a £10m valuation would mean the SP only being 0.43p.

Or put another way, my average in price of 1.9p, it would be the equivalent of me actually having paid 4.4p, and if we get back to the market cap when I bought in, it would be just 0.81p. So COPL need to peddle hard.

“Under the terms of the Forbearance Agreement… the senior lender agrees not to enforce certain rights, remedy, powers and privileges available to it as a result existing defaults under the terms of the senior loan facility before February 29, 2024…

Among other things, the Forbearance Agreement requires the Company to deliver a cash flow generative business plan which shall include a sales process for the Company's assets. ***There can be no guarantee that such a process will result in a sale or that even if a sale was completed, will result in net proceeds to the Company***

So they’ve got to sell off assets, and we might not even see any wonga from it.

So Dickbat - the lights stay on, which is possibly good news if you think the terms above are acceptable. But perhaps a bit too early for you to be gloating?

Just got home and trying to catch up with all this.

So they’re doing a raise…at 0.15p and we are being diluted by 75%?

I’m also intrigued - it’s a Friday evening, between Christmas and New Year. And yet here you are on a chat board for a stock you care nothing for!

Best guess? We’ll default (clearly nothing agreed yet and only 2 days left for them to sort). We’ll seek this creditor protection and be suspended.

Best hope, then a raise and massive dilution. But I’m not sure this will happen and we’ll likely remain suspended and go bump.

““An amendment or waiver” the RNS states they might be working in this now hopefully”

Does it?

“…the senior lender is unwilling to further amend or waive the terms of its Senior Credit Facility. Without an amendment or waiver from the Senior Credit Facility Lender, the Company's indirect affiliate, COPL America, Inc., will be in breach of the terms of the Senior Credit Facility on or before January 1, 2024.”

I thought it had been determined that Canadian rules dictate you need three directors, so Cowan had to stay until they found a replacement?

Anyway, that's a wrap for 2023. Despite being labelled a troll, I do hope for all our sakes we get good news in the New Year, however unlikely I feel that may be.