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70 million debt, 6m revenue…. That is not ideal. Then again people must have believed in it despite that debt. Seems as though they have had floods and power failures and everything that could go wrong has, but perhaps if a few things go right it could turn around.
Thanks for being clear about what I’ve bought into though, looks like a dicey one and I should have looked a bit closer at that debt!
Hi, I just bought into this as it seemed good value despite the problems… but sentiment seems… uh… not great.
I understand that this has clearly treated long term holders poorly, but from this level, is there any value here or is the consensus that it is basically doomed?
The only thing I'm worried about now is a placing at a low price and significant dilution. I know this has been discussed before and I expect they'd want to do it when they can achieve a higher price but with the uncertainty in the air they may want to go for it and secure funding. I very much hope not and I would doubt it would be necessary right now.
Other possibility those 1.25p shares. Or perhaps just mistrust of anything less than assays.
It feels as if success is nailed on now though. So I'm not sure what the market is not liking; one would have thought after the last two rns' investors would be coming along for the ride, whatever the issues about funding.
Sorry, replied on the wrong thread.
It sounded a good bet that someone would want this, AA or others, but possibly too good to be true because there are other discoveries, the grades and tonnage have to be competitive.
But then they found another poryphry. That changes the economics completely.
It sounded a good bet that someone would want this, AA or others, but possibly too good to be true because there are other discoveries, the grades and tonnage have to be competitive.
But then they found another poryphry. That changes the economics completely.
I've been watching this all year waiting for it to look like a sure thing. I did not expect the market to turn its nose up at exactly that point. Perhaps that's the problem and the story here is complex for people who have not been following the company, the geology and so on.
The annoying thing is that if the doubters bought in and the sp went up to 7, they could raise a few million at 6.5 and it wouldn't make much difference. Whereas if they raised between 4-5 then it makes a bigger difference to the upside and negates any advantage gained from buying in low afterwards.
I'm an idiot and bought in high.
But this is ridiculous.
What part of 'we found another porpyry' does the market not understand?
And people are waiting for a raise? Everyone wants the copper, no one wants to support the company in getting it. This is why we can't have nice things.
If you want positives to prove I'm not a deramper, it's the miscible flooding, the reserves and the oil in place. The reason I invested is that I just can't see that going wrong, relative to other oilers who have to keep doing risky drills for their bread and butter, medical and tech companies who have to keep innovating and winning contracts and so on. Copl has the wells in place and anything else like a discovery is a bonus.
Anyway, have a good weekend.
I don't understand?
I was posting questions on the senx telegram board before the results. I sold before the results at a small loss. The sp didn't treble, it fell after I had sold.
I ended up back in copl because I prefer this style of management ultimately. Senx played it safe and will probably come good but at a much later date. Art seems much more active in building something here, difficult though it has been for investors.
I may sound negative, Brel (not Art of course!) and others, and I know people don't want to hear negativity on a stock board. I do think this will come good, certainly more confident in it than other stocks I've looked at.
Seriously no, I am in, and I'm still relatively confident about the stock. After what happened the other day with the placing, I think we can be allowed to entertain some doubts, but the basic story here hasn't changed. Production is increasing and we are funded, with a new discovery. Good luck all.