George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Because if the stock is strong, there should be stronger counterpoints in the debate. That's why we debate here, or should be.
I'm staying in because I agree, there are multiple areas for rapid progress. But after a 25 percent dilution, which did not follow great and uplifting news but rather a series of seemingly unforced errors, there's much less slack afforded to failures going forward, and it's as well to take stock because the proposition has changed somewhat.
For investors who bought in at relist, a 70 million market cap is now required before they see profit. Is that realistic in the short or medium term?
Would 10-15p, representing roughly a 17-25m market cap, be unthinkable?
That's the question I'm asking myself as I decide whether to hold this stock.
On the one hand I'd say yes because our assets and near and medium term production upside are immensely better than the oil stocks languishing at that level.
On the other hand there is the debt, which is far higher than that of those other stocks I'm comparing this with, and which magnifies every failure of management here.
So yes, we need some good news now to prove that the value is more than speculative.
I don't blame Art at all, that's business. Stocks exist for two reasons, funding and spreading risk; the whole concept stems from the age of discovery when trade ships sank as often as reached port. We handed Art our cash and he set sail, occasionally we receive pigeon mail from darkest Wyoming, bringing news of dubious wonders and potential riches, and begging for crates of grog and liberal supplies of gold dubloons.
I will say that the optimists, ok, I'll stop calling them rampers, the optimists should be officially considered 'wrong (status pending)' until we get to 1 pound.
Because I think that will be a while now and people who bought in on relist, or even pre-suspension like myself, are going to be waiting for a while to double or triple our money. We may not be waiting so long to see profit, but again, this is contingent on the tide turning fairly decisively.
LB2B, I have no problem with your posts but anger...?
Everyone knew who Art was when they invested, his style is publish knowledge.
If people were honest, we bought in because this is his way of doing things. He's going to slapdash bish-bosh jury-rig up an oil field for us, and hes going to overspend and waste our money and make mistakes but he's going to do it fast and he's going to think big, and it might just pay off for us.
The Dakota well is so important because its the only way pis get the oil discovery confirmed. And because we have had more material bad news whereas the good news has mainly been projected, simulated, or confidential. The Dakota well says, no, it's not just a possibility, it's here and it's beginning to produce.
That said, ok, other oil companies I've lost money in... well, there are several which were 50m or more market cap and are now 15m, 20m and the point is that they have no hope for the medium term at least. They aren't going to do anything soon, they are priced to fail. That can't be said about copl.
Barring a market crash, if two things happen in the short term, namely the Dakota well and further evidence of production increase from the miscible flooding, surely the only way is up from here?
Would this process begin after the various bankrupcy hearings, of which what looks to be only a very preliminary one to establish the proceeding as a foreign main is scheduled for the 30th of December, or would the auction be ongoing through the proceedings?
http://cfcanada.fticonsulting.com/Cuda/UScourtMaterials.htm
The suggestion that Art is playing 4d chess and hiding positives in order to negotiate a favourable price for cuda...
The problem with this, given that the timescale for acquiring cuda is likely to be a matter of months, possibly several, is that it doesn't give much incentive for buyers of the stock up to then.
What are people's thoughts on that?
Bought back in slightly lower, didn't make anything from the drop because I lost the difference trying to trade ufo.
Didn't lose anything either and I was spared seeing it drop to 18.5 yesterday at least!
They're talking about this in Canada, there are new documents about the bankrupcy hearing up on the FTI page apparently.
http://cfcanada.fticonsulting.com/Cuda/UScourtMaterials.htm