Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
PC
that's a very intelligent post .. :-)
Getting more baffled why Anavio Capital Partners LLP bought $2.5 million worth of shares, with options etc.. Funding is required when you need to complete that last project, or a new business plan, Its as murky as all the last RNSs issued by this company in the last 6 months . There aren't any good explanations even from our uber realist COPL holder
We don't even know if production is flat or declining without gas injection. Maybe it will increase if left alone , who knows
All the tiny ones with the same timestamp
I always wonder why they do that, it doesn't seem to achieve much. We count volume not number of trades ...
Think Peter Kravitz will scratch his head with this one
I know I am - its baffling
"The Company has stopped natural gas and NGL purchases. Oil production for the 4th quarter, up to December 28, 2023 averaged 1,083 bbl/d (gross). "
The business plan is kaput.
The new business plan (is you can call it that) is to produce 1000-1100 bopd and sell of assets to generate a cash flow to service debts .. No body sane would put new finance into COPL
". Eg. new finance arrives, say perhaps $20M, which then gets allocated 90% of the new equity base. "
I know its hypothetical but what would new finance achieve / The existing business plan is kaput. . Drilling wells ?
Don't think Anovia knows. All I know is the valuation of mineral and oil assets in the ground is very hypothetical ..That's because it takes an enormous amount of skill , luck and funding to extract them. And time.. Not many want to do it, that's why the big majors wait for COPL like companies to come along and show them a path forward . Anovia cant do that
But I agree that PIs will be diluted to extinction. I was seeking to understand the obvious PI buying today for £5-£10 k today
"Anavio isn’t keeping this alive to support a restructure. They’ll keep it alive, quickly dilute it to extinction and walk away with the assets cheaply."
the problem with this theory is the assets are difficult to sell. Its not something that you can walk away with cheaply and make a huge fortune on .. The assets could very well sit there for the next 50 years ..
And the only company that's done due diligence is the secret JV partner
Yes its not worth selling at this price. If you go into administration then you have to sell at any price, it cant be negotiated , it has to be an auction.
That's why I think the company is stalling, to keep it a going concern.. But they have to sell something, the RNS made that clear . 1000 bpd is not enough to keeps the lights on apparently , especially with the crash in the price of oil
What do you see driving that bounce? Obviously some PIs are taking a punt with very large sums £5-£10k
Only thing could be an asset sale .Some people dont understand what a " cash flow generative business plan" means.
IMO its like when your income is lower than outgoings and you ferret around in the back shed for something to sell on ebay
Some of the buys look like PIs operating from HL accounts
A lot of the tiny trades have the same time stamp.. Obviously a bigger trade broken down for obfuscation
Or could be just a crap algo
Other buys are PIs buying in
any value ending in.991 is a classic ....
what do people see in this ?Genuine question
That is likely an off book transaction
"High volumes going through again today, 10 times that’s of similar market caps"
Interesting you say that. Volume here is average for this share which is about 1.8 million shares traded. There tend to be a lot of offbook trades that push it up
Why mock investors? They have to trust in the system
Millions of $ seem to have disappeared .. That looks like fraud till we get a better explanation ..
Tiburn you are selectively quoting . The sentence reads:
"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 is no "ifs and buts" about the sales process.. Some assets are going to be sold , maybe not all .. But terminating the CEO / production guy doesn't look like they are interested in developing production
The only thing I agree is that it suits some people to keep this a going concern
Ok Duster
Maybe the JV partner will make a bid on the assets seen as they have done the due diligence
Is that cheery enough