RE: MORNING BOYS AND GIRLS28 Jun 2023 06:34
I've said it before and I'll say it again - this was trading at 17p with 340M shares before the bond financing deal. If we were to assume that ALL bond conversions had already occurred in one go and we are now on just over 1Bn shares then that would give us a SP of roughly 7p as it stands.
And that's ignoring any progress on completion of the GGS, material increase in production, material increases in OIP over the 1Bn figure and progress finally on that JV!
Imo shorting should be illegal, it's a widespread issue that often involves dubious practices by those that target certain listed companies and allows dubious characters to virtually trash the company while they are busy trying to drag the SP down just for financial gain.
And when they are finished, surprise surprise the SP miraculously recovers and they move onto something else, but they are usually very well co-ordinated with a large number of individuals involved all at once to make it possible. It's a very dodgy murky practice that should be illegal.
Plus this has all taken place at a time when liquidity in the markets has been absolutely dire these last 12 months making it virtually impossible to raise money through equity placings unless at a severe discount or through some kind of CLN arrangement.
Yes the bond arrangement wasn't ideal but we know what the money was to be used for and if it increases production 3 - 4 fold then it makes copl itself not just self sustainable but very profitable too.
This is probably they only thing holding back progress on a JV as they want to see progress on the GGS before jumping in.
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