Member Info for mcadder

Ohh bit touchy aren't we kiddy.....

Anyhow I wasn't questioning freedom of speech I was querying if they are actually a robot or not if you read my post properly lol

HFB - I admire your commitment here but seriously are you some kind of robot lol? It's like you never ever stop posting day and night! You're posting history suggests that you've done 750 posts just on copl not including other shares in the last 30days alone!

It's classic behaviour.

LB has sold his remaining shares this morning and then switches character to flood the bb with negativity as he wants to buy back in.
So why is LB here? Because he is playing a dangerous game hoping it drops after he sold so they can buy back in

LB - seriously do you have bi polar? Either way you're clearly not cut out for investing and you've shown us proof as to why we should attach zero credibility to your rants

I wouldn't get too hopeful on a santa rally just yet. Another holdings RNS, from Allianz Global this evening having sold from over 9% to 4.8%.
So if they haven't finished selling yet that's a lot more shares still to be churned.

"great price to buy and hold"

No....it ain't

https://allafrica.com/stories/202112140034.html

Nigeria: Investment in Oil Industry Must Hit $525bn Yearly to Avoid Supply Crisis - Report
4hrs ago

Insufficient upstream investment would result in more price volatility and spur adverse economic consequences," the report noted.

The Organisation of Petroleum Exporting Countries (OPEC) and several industry stakeholders, including Nigeria, had in recent months echoed that underinvestment in oil and gas threatens future energy supply as the commodity will continue be consumed for decades to come, regardless of the pace of the energy transition......

Lottie - there is more than enough justification re negative comments because it reflects the cold hard reality of what has happened here to date, i.e

• being diluted to oblivion
• all time low SP
• low confidence in the bod
• talk of billions in weighted pipeline but just talk
• bonuses awarded and for what exactly
• substantial monthly cashburn
• talk of transformational change for over 18mths
• ML granted yet talk of possible 100% sale of I.M
• Uninspiring comments from GM

I could go on but will leave it there.

Talking of shipyards just seen this which may help shed light with the challenges involved in UK shipyards securing MOD contracts which tend to be awarded to international firms, in particular paragraphs 6.6 - 6.8 .....

WRITTEN EVIDENCE SUBMITTED BY HARLAND & WOLFF
https://committees.parliament.uk/writtenevidence/36599/pdf

Question 6
"Is the UK’s domestic shipbuilding industry able to fulfil its role in delivering the
country’s naval capabilities? What has been the effect of the National Shipbuilding
Strategy? Does the government’s decision in the Defence Industrial Strategy to
determine whether to invite foreign competition on a case-by-case basis (rather than
just for warships) increase or decrease the opportunities for UK shipbuilding?" etc etc .......

6.6 "If UK Government is serious about restoring UK shipbuilding, it must support technology transfer through international collaboration and
investment in skills and facilities to drive up efficiency, in doing so, UK shipyards will be able
to win work from overseas and significantly enhance their export opportunities.
6.7 With these export opportunities in mind, it is also important that UK Government funding
and financing mechanisms are significantly more agile. We have seen examples of international governments providing support for ship-builds in their respective country within
48 hours of receiving a request. However, after weeks of attempting to engage with UK
Government, we have seen clients unable to gain the support they need in order to instigate a UK ship-build. Unless Government finds a way to move at pace when these opportunities arise, UK shipyards will miss out on significant contracts due to inertia.
6.8 Environmental considerations are inevitably going to play a larger role in shipping, and it
is important that the Government helps UK shipyards to make that “green” transition by
integrating sustainability into all facets of UK government support for shipbuilding, including
both vessels and supporting infrastructure. Maritime engineering has a significant role to
play in the UK’s transition to net zero, but this can only be achieved with vision, forward
guidance and support from government.
With early support, the UK can be world-leading in green shipping but in the absence of appropriate technologies, skills, infrastructure and demand, the UK is unable to claim its place at the helm of this inevitable market that will secure the future of UK ship-building for generations to come"......

Roly - unfortunately yes the SP will continue to slide until we get announcement of a major contract (i.e £50M+) small £2M contracts just won't cut it anymore. From the comments made on the GM yesterday sounds like it will be Q1 at least before/if we get any although I'd like to be proved wrong on that.
Just to put thing's into perspective in old money 35M shares (350,000 now) would have made you a TR1 holder (and I should know) but now you would have to purchase around 495M shares (or equivalent of 4.95M in today's money) for the same 3% following the latest dilution!!
Plus with the massive difference of now having 4 huge liabilities hanging over us (unless this suddenly changes with huge contracts for fabrication or shipbuilding and all will be forgiven) but as a lowly shareholder it doesn't take a genius to figure out that we've taken 10 steps backward in terms of shareholder value in the hope of eventually taking 2 steps forward as well as shouldering the risk of huge monthly cashburn and uncertainty.
But in the meantime it's 20 steps forward all the way if you're lucky enough to be high up on the payroll.
Another point I wanted to make re Islandmagee which perhaps some may have missed, after all most of us in the early days were here purely for the UGS is the mention of the possibility of a 100% sale of Islandmagee. Really?? Bearing in mind we were told that they would be able to reduce construction costs of the facility from nearly £400M to £265M by utilising the fabrication facilities at Belfast which would make the economics for us even better we now have a full sale as an option? This tells me that either the deal on the table for our share of equity if we retain a stake in it while financed by a large player is not really that good after all this time OR they are considering this as a possible further injection of capital into the 4 yards to prop it up?
I really hope I'm wrong on that last point.

"why not report it up front and build some interest?"

Because this along with the recent oil discovery (information which remains confidential) is so good that AM is keeping his cards very close to his chest so as not to jeopardise a low ball bid they are putting in for CUDA imo. He knows we are in a position of strength to get a good price,and each day we continue to produce decent bopd. It's simply a case of whether people believe this is the case or not but imo this is the only logical explanation with what is going on and keeping a lid on the SP for now.

chitta - JW needs to go. It's as simple as that. He's had more than enough time to realise value for shareholders while ensuring they are paid in bonuses. We are now in a situation that only £50M+ contracts are going to help us deal with the massive monthly cashburn and stand a chance of seeing some profits. Last post I wrote the SP was at just over 18p, now it's back to exactly where we were before the ML was granted in the doldrums at 16.50p to buy

Overall nice update today but I must admit I'm somewhat disappointed by the average au grades of 1.25g/t.....really thought given how long those tailings have been sitting there since the days of the old timers over 100yrs ago and never re-worked that the grades would have been between the 5-10 g/t mark.

Good post tedoby! I certainly share your thoughts re the process for the CUDA bid especially given the urgency of the placing, the fact that it was done at such a small discount to the SP at the time and the fact we've held up pretty well since the placing tells me that there is potential from a very near term news point of view that the SP will be substantially higher than current levels.

Really sad to see the SP where it is. Investor's have become used to witnessing just a brief rally for a day or two then bang ANOTHER placing. When we had the 30p placing all those months ago the RNS was worded as though we were on the verge of a transformational breakthrough. Well the SP certainly speaks a different story especially when you consider that there are now nearly as many shares in circulation here as there are in COPL!!
And I thought that following the Saipem contract and the required performance bond there that there were some assurances that further performance bonds may not be required for further contracts yet we have this :-

"The net proceeds from the Fundraising will be used to facilitate delivery of existing and expected contracts and secure further higher value contracts in the Company's pipeline, as well as to:

• satisfy the performance bonds for expected near term contracts"

So the arrival and departure of vessels helpful though it is and informative is not going to benefit positive movement in the SP - only the announcement of SUBSTANTIAL contracts will now and by SUBSTANTIAL I mean £50M+ as this will be the value of contracts required to absorb the now humongous monthly cashburn and start to see some profit. The gravy train of these discounted placings surely cannot continue if there is to be a future here!

Hi kainos all good here thanks! Hope you're good. Just passing time patiently waiting, looks like it may be next year before we reap our rewards but our time will come. Long live the trumpet!

The placing is small fry compared to the value that will be realised if the bid for Cuda is successful hopefully resulting in 100% WI of Atomic

Use the filter if it makes you feel better, you've been a pompous twit for all the years I've known you to frequent lse, only difference is I'm stating it to you as a fact especially if you have nothing productive to say here but just come onto this bb to gloat

Setanta - the only thing the penny has dropped with here is that everyone (apart from me) has decided to ignore stupid statements made by a pompous twit like yourself

In the grand scheme of things the sells have been minuscule this afternoon and that's because only the smart ones have the desire to hold for what's around the corner especially on the back of the latest production update.
Expect a breakthrough on oml226 by the end of this month too ;)))