Member Info for Gord_1

From 1700 to 300 in a just few years.....I see only upside from now. The FCA issue has been baked in.

Announce that they have a JV coming shortly with a major player :-) or release an RNS to say their in talks? They only have to go for a beer down the pub to discuss talks

When they pay down the debt.....their will be more debt to replace it.....and reading between the lines ...the sneaky lies

"Subject to the completion of the first sale under the Platinum Group Metals Agreement the owner of the Swiss investment Company owning the high grade PGM concentrate has indicated a firm interest in providing major restructuring finance to the Company, partly through debt and partly through equity to be issued at a higher price than the current share price."

of course the SP will be higher after consolidation. :-)

Its mainly Opex ...Capex last year was only $1.6M.

Albeit, VAST need go give us something big and positive...... before taking any more.

To Buy or Sell ?

From the Interim Report to October 23.

A decrease in losses after taxation in the six month period ended 31 October 2023 (US$6.220 million) compared to the six month period ended 31 October 2022 (US$6.779 million).

So approximately $12M still lost pa., so unless they can find additional $12M in revenues pa from the initiatives you talk about, there will be placings every 3 months go keep this outfit going.

Monthly revenues = $300K

Monthly costs = $1.3M

Each month we loose $1M which is funded from placings. The diamonds would be a plaster if received. IMO this company is ducked unless some serious production upside happens. ?

And also Peter has a team of people who can deliver "Forensic Accounting and Due Diligence". interesting !

At the moment the company has debt liabilities of 135M. The 109 Bonds outstanding amount to $21.8M however if the BH hold these until 27/28 then the liability is $70M. That's why the company is on its knees. The assets wont cover this complete $135M debt so I would be looking into selling CUDA and paying off the BH's $21.8M only. They have already made a lot of money out of this. As these bonds are unsecured, the new CEO should be looking into the deal and finding a way to get out of it. I don't think their is any other option as a major isn't going to pay $135M for a company which purchased the assets for $65M + other liabilities . I hope the new CEO does not pull the plug, looks through the accounts and takes those to account who have been helping themselves to company funds. COPL does not need the CUDA assets, it needs a partner to help increase existing production and share the costs, and to further develop Cole Creek. In summary the BH deal needs to be reversed somehow, COPL sell CUDA licences, and the new partner shares the cost of developing all assets. ...IMO

This company gets a great RNS and nothing on RENX ....however RENX flies up and down....is the market confused ? $10M upfront payment + $870M future ......I'm confused

Sell off the CUDA asset and tell the BH to duck off . They didn't need to buy CUDA in the first place. They were bankrupt and their debts could have been paid from their share of the WI. I have no idea why AM wanted to run before we could walk. Maybe helping his mates out. If someone else bought CUDA then that would be a JV between ONOOC, COPL & JV. Instead he signed the most worst WONGA deal I have ever seen. Idiot !

What news is due?

An old Helium 1 article suggested 1.5 Bcm....thus @ £10 per cubic metre = £15B.

Say 50% to the government and £500M sunk in opex and capex costs to develop a plant etc= £7B This is over £2 per share at current levels, This is conservative so I would stick a target of 50p per share when this gets going.

cnooc are the non operating holder of 15% of the production licence. could they end up as the buyer of this asset ?

also the sl was ****ed off when am carried cuda who could not pay their bills as a non operator, hence he did the bond deal instead. a prospectus was required for the atomic acquisition, but nothing was produced for the cuda acquisition.

the cuda deal was just pushed through without detail to sh's . this is why the bh's are taking advantage because copl ****ed up as sold us out to a crap deal . i think fca rules were not followed hence class action should include this point.

We have all lost a shxt load due to this circus show. BH have screwed us and still doing so. They want the company to sell the assets so that they can claim their $70M for their outstanding investment of $20M.......so if the company does sell ....and possibly at a loss...I hope the BH's get shafted too.

The issue regarding bonds has crippled this company. Its a mechanism that is well understood and open to fraud. We are aware that bonds could be allocated to directors, but to what extent when the bondholders are not all declared.

Since August 22 -

44M in bonds have been issued.

The current balance is 21.4M.

Converted - 22.6M

Conversion Payments costs - 11M

For a company that is supposed to be on a tight budget, the conversion payments alone of £11M would cripple any company of this size. Lets not forget the addition funds COPL have received from placings during the period also which amount to approximately £10M during the period from August 22. With revenue from sales after hedge losses, I'll allocate £15M Since August 22 , approximately £70M was in the pot to buy Cuda and make this a success.

However, despite low production and the company on its knees, $ 4M has gone missing in Bonds shortly before AM departed. In response to the shareholder queries, TR stated that :

On January 3 and March 27, 2023, the Company announced further issuances of convertible bonds to Anavio and other investors for additional proceeds to the Company of almost $15 million.

In fact $18.8M was issued in additional bonds . So a question to TR is where has that $4M in bonds gone. I think we all know where they went. This needs to be reported for investigation.

Feb1 23 was when COPL announced 2 RNS. One was used to disguise the fxck up they made over share listing and not posting a prospectus in 2022 regarding the over 20% placings/ bond deal. ( which is FCA requirement) The share price went south on the day.. Their website has a 2022 prospectus but in fact its the 2023 one duplicated..to cover this up. . How can approximately half the companies shares trade in 2022 without being officially listed? It stinks a lot as the SP never recovered from that point.

Something is going on .........another 19K Buy ?

2 recent buys ...27K & 11K = just over 2.4% of the MCAP ........Could it be Tosca taking things over the 30% ?

My Mistake ...Anavio still the same number of shares, % is lower due to Tosca bond conversion. ........