Firering Strategic Minerals: From explorer to producer. Watch the video here.
BH and strategic investors will have an investment strategy for buying and selling to meet their requirements and would be unlikely to deviate from that unless significant new information on the investment became known. If you invest millions you are not sitting around waiting for NOV production figures to make a decision!
Eazy, yes I know what the correlation is historically, what I want to know is how is that correlation behaving yesterday, today, and tomorrow not what it did with the old GGS system.
Yes it is obvious as pressure increases, production should increase, it’s physics. For COPl to provide some good sentiment on how the system is behaving recently I feel is simple so just surprised no one seems to want to put this in an RNA as I would expect to see them improvements taking affect by end of NOV as we are at the 6 week mark, but maybe in their defence waiting till 8 weeks is more prudent given more data will be available.
Yes the old graphes are available but they never happened so I want something new that is relatable to the real world situation they are facing now.
Yes it lags by weeks, yes as pressure goes up, yes we have a new GGS to get over all the old issues seen with high pressure, but no we don’t have confirmed evidence or even a suggestion by the company that they are now on track. I would expect they should be seeing some positive signs now and as such an RNS to help spell the next 2-3 months of effort and expectation would be great. Yes they said we would get one by year end but I was hoping that NOV production would give them a warm feeling and as such release a state of the production up date.
Well honestly I am a little disappointed that we don’t have an RNS giving an indication on the GGS and its impact on production. They happily spent the money on it and we are still speculating it’s having a position impact, let’s see if they can draft something this week. A simple chart showing us how they get to break even would be good initially and can’t be that hard to compile.
Go back and look at the typical price between mid NOV and upto sometime in JAN and you might actually say the price action in that period is typically a decent opportunity, but if you can’t remember them, or be bothered to look then that’s on you.
Let’s just keep above 2p for a start, at 3p, 4p, 5p the market cap is a joke verses the assets, reserves, resources so if this is another time that the BH have stopped then like last time the ping up will be relatively quick with the added advantage production or JV news could further ignite.
Let’s see where it ends today.
I would be shocked if they gave away controlling interest at this stage.
I would expect JV partner funding initially on a smaller portion (20-30%) but with a clear path for the JV partner to be able to take a controlling interest at the right moment and then a path to a full take over.
Any JV deal is a game changer as currently there is no real value in the SP attributed to the find so hypothetically if the JV paid £100m for 50% it values the find instantly at a min of £200m and then the money is used to extract oil and develop resources / reserves so the value of the find could increase quickly.
Why are people able to suggest a SP after a JV, would love to see how people calculate 5-10p on a JV.
I think the bonds issue is blinding a few on what the SP could actually be and the snap back speed on company making news. The disconnect could be huge and I would suggest that if we can get over 2000bopd and a reasonable JV for developing the discovery this genuinely could be a generational share.
Yes the bonds have been dreadful, yes the comms from COPL are dreadful but the flip side is the next year in COPL could be life changing.
Could also fail to increase production, fail to get a JV and raise some more bonds but its risk reward is compelling.
Feels like the first slight raise in a while. I am really hoping this can be a good performing share in 2024.
I get the feeling they are going much slower than last time in terms of ramping up the pressure so they don’t shoot past a point where the pressure is an issue in terms of production for whatever reason.
I am probably setting myself up for disappointment but I am almost expecting a very early Dec update to confirm NOV figures and direction of travel, but this is based on what I would do and not I know anything.
Why do you all jump in here after a bonds issuance and act like it’s out of the blue.?
These are known, the conversion price is known, and anyone who has heard of COPL already assumes the final qty of shares is larger than it is today.
The only assumption is you don’t understand what bonds are, you are very new to investing, or have an agenda.
All you need to know about the JV is a LOI was signed.
Although not legally binding a LOI is usually signed to enable 1 or more parties to do some items of work associated to the scope of the LOI, with knowledge their pre-commitment effort will not be in vane.
So for instance maybe 1 party had to spend some money or time to close off a point(s) that was required to move into a signed JV, maybe 1 party had some long lead-items to procure in advance as they are long-lead times and the LOI period gives them confidence the pre-commitment is acceptable.
The one think that is clear is that as soon as a LOI was signed it shows the involved parties (could be more than 2) were expecting a JV to materialise so to suggest to us being kicked down the road is nonsense and shows huge misunderstanding on the subject. Referencing it back to Nigeria is comparing apples to oranges at this stage.
Blackstout, we all know where it could and should be but the company need to release news that supports that position, i truly hope they proactively present an RNS with some pleasant production news but it would represent a change of direction, which I would most welcome.
I really hate to be negative but the large volume day the other week suggested to me some genuine good news had started to slip out but the mashing of the SP back to these levels seemed to me to suggest someone had not finished mucking around with VWAP for I terst payment purposes, so I kind of expect a large interest conversion Tuesday/Wednesday and maybe that’s the final play at this level based on anticipated good news.
The outcome will no doubt be that an interest conversion will happen on or after Tuesday next week when the 5 day VWAP is over the big volume day we had last week.
Sit tight and wait for the games to end as that will be the cue for progress in the SP