Member Info for Jiving

Jay12 was unfortunately deleted from LSE following an ambush on another board last week. A couple of stalkers created a confrontation which led to the LSE moderators deleting all accounts involved including Jay's. He was a big LTH in a handful of shares which he was obviously bullish about (otherwise why be an LTH?) including COPL. He tried to build up a rapport with management, and pass on to the board info, to the extent he was able to, without breaking confidences etc. I think he added great value to all the boards he was active on and am sorry he has gone.

Interesting to see a 1 million trade go through in Canada @1 cent. Usually lots of small trades @ 1c, first sign of bigger sizes being done.

Bonum/Petrodollar is a notorious cynical trader. He ruthlessly de-ramps shares he wants to buy to get in at a lower price. He has done this before with COPL before a placing in 2019, when every day around 7.00 he would bang out the same heavily negative message to try to drive the price down even further. Once the placing was out of the way & he was now an investor, he turned 'positive'. Same old.

Will be interesting to see. The Canadian exchanges/regulators are more liberal with regard to this type of financial deal than London/FCA. Which could make for some interesting trading/valuation markers. I am looking for 2c in Canada on reaction to the deal.

Does this means we have lost exactly a day ie the whole completion timetable is now expected to start at 10.00 Mountain Time today 16 March? If that is the case it would mean - even if it were just a simple technical signing of pre-agreed contracts - there would still likely be a considerable number of related documents for all parties to sign. Could easily see that taking either side of 2 hours so legal completion earliest 12.00 Mountain Time = 18.00 London. So any news release would come whilst Canada is open, meaning initial reaction & valuation will take place on the CSE. My hope is we would hit 2c (1.16p) during CSE trading.

Shrewd I appreciate thats the theory but sometimes the short term Chinese bureaucratic response is to shut down a 'problem' sector.

Some background on Friday's fall.
https://www.mining.com/iron-ore-price-dives-on-china-pollution-crackdown/

Something has to give. At 8p we are at roughly 5% of the IPO level 10+ years ago when iron ore prices were roughly comparable. And the Xstrata money has been spent, reserves etc proven up, intricate development plans made & re-made so many times. Chinese demand still growing & they have geopolitically fallen out with their main supplier. Even Simandou seems to be finally coming to life, in what must be season 4 of the soap opera thats been. Just hope that what eventually gives isn't shareholders interests.

PS dealbreaker didnt see your post will go back & check it out.

2.50 just paid! Put the bad news behind you & move on.

MK I certainly agree on 3-6x current mkt cap, largely dependent on what else has been going on in the last few weeks & whether we are going to end up with more than 57% of the Barron Flats. Also will Arthur release all news in 1 big blast or space them out to maximise impact, not even going to play at guessing that one!

Its certainly worrisome that the Congo has started taking back licences. Its fine having a good working relationship with the ministry concerned, but these expropriation decisions aren't taken at their level but at the very top. Noteworthy that someone as shrewd as Friedland hedged that risk via MIGA. "Use it or lose it" isn't just a slogan in these circumstances, but a possible reality, if there is no actual mine development in the next couple of years.

Charlie it all depends whats in the RNS & what % we end up with, 57%, 72% or 100%. But Monday is only the start of the short term news cycle as we will be seeing increased production, a possible sucessful bid in the Nigerian marginal oil fields bid etc...

Great arithmetic Tiburn. One explanation for the sudden share placing last week could be to have cleared funds available to purchase the remaining 43%. A necessary mix of COPL cash from the placing leveraged by use of the debt facility expansion.

Well we opened pretty well this morning with a fair few buys so far north of 2.20p. Are Allenby's punters moving in on the back of the positive research report & with the downside of the placing behind them?

Good stuff Doug. Spot on, hedging their bets is how they think & work.

CawCaw. Thanks for the update. Its very unlikely the recent option/warrant issues (ie the big ones) will be exercised any time soon as they had a one year exercise date. So essentially those insiders lucky enough to have been allocated these have a free play on the share going out to January 2022. They can see how it plays out till then & pay nothing for that right whether the share price then is 1p, 2p or 5p. I cant see a lot of option/warrant from recent issues being exercised any time soon for that reason.

Good info CDN. I saw a few days ago the insolvent company has been identified as CUDA, a Canadian listed small oil company.

MK that thought occurred to me as well that IF we had a winning bid in the marginal round there might be a sudden cash call. But the article states awardees have 45 days from email delivery date (2 March) to cough up, so we could have raised cash after 15 March if that were the purpose. Like many I don't see why we could not have raised funds for future operating costs after 15 March. Maybe we will find out on Monday.

A strange read, seems a very dodgy process, awardees not knowing who their partners are but still having to cough up?https://africaoilgasreport.com/2021/03/farm-in-farm-out/nigerian-marginal-fields-bid-round-third-letter-out-signature-bonus-called/

ShearClass if you read the report, you can see they haven't just picked 'a figure out of thin air' but provided a rationalisation for their estimates. Now you can agree/disagree with their rationalisation, but its an attempt to put the discussion onto a sensible basis & not just 'thin air' which so many bb discussions sadly are based upon.