Member Info for mcadder

The size of the asset as backed up by the Ryder Scott resource report is not in question here.
But many other questions for me remain despite the fact I continue to hold (underwater)
We've known since the second week of October that a large 'recognised' oil company has been wanting to do a JV. You would assume that before this came to be known that due diligence on copl would have started prior to this, yet we learn in Nov that they are doing due diligence and a month later still nothing.
Anyone wanting to do a JV will know that publicly we have said we can't do this on our own. That is a nice way of saying, "we need help" which is fair enough, but the problem I have here is that anyone doing DD will know our cash position which is imo not great considering production is down and oil prices are 50% down from their recent high.
Cash position wouldn't have been a problem if the RBL was sorted but it isn't yet.
So bearing in mind what the 'potential' JV partner will know about copl, if they joined the party it would be assumed that they would want a decent slice of the action i.e minimum 50% to fund a decent well campaign, boost production and reserves. This is no bad thing if that were to happen, and right now I think it's the best we can hope for. As for our current debt, no JV partner in their right mind would fund our debt, they'll fund a well campaign for a big slice but the debt still needs addressing which imo the RBL refinancing will be needed either way.

That's not the only thing down. WTI crude oil down another 3.16% down to $74.50 as well as production down

And meanwhile with all the time wasted, oil continues to slide (WTI $76.48) which isn't helpful for us either

EarlofAIM now ramping CHF ffs after moving on from COPL. It's exactly that sort of attention from pump and dumpers that we don't need right now.
My only concern with production being down and no update on JV or RBL is that if something doesn't happen soon that we may need to do another raise as cash is getting low.
I think that particular aspect is what the market is pricing in unless we hear otherwise...

EarlofAIM - "wil be interesting how CANADIAN Market will open.
last Friday it was up 6%

do they know something?"

0.21 CAD -0.020 (-8.70%) today CSE XOP
No Earl, they don't.

You seriously should come with a wealth warning for other investors, dangerously ramping one stock for an hour or 2 trying to suck other's in, while selling out to do the same with another share, then rinse and repeat continously.
If you know anything about copl, you should know not to take much notice of the market there as it usually only averages 10k - 100k shares a day. Funny how some only ever take notice of it when it's up!

Yes I picked up on the inaccuracies too Si ;)

I think what he meant re the 30p SP was for everything else going on up to know but not including the FSS work?

The moratorium on fracking has really ballsed things up here. I think this has further to drop before there's any recovery

Good news - looks like ALL posts that FORMER FD wrote have disappeared when you click on their lse account so, fingers crossed they have been banished from lse lol

Roly - I reported the moron FORMER FD too, good to see it got removed.

We're all for debate and differences in opinions but FORMER FD literally attacked anyone that didn't tow the line with their views and then tried to constantly attack them with abuse.
That is simply not on which is why not only did I filter them, I also reported them too. Looks like many others did.

If you listen to the latest proactive interview from just a month ago, BH actually says that they not only intend to use the mill facility to process the tailings and spoil heaps, but also to process VEIN material too. That may include the recently found gold vein at Olympic plus even the potential vein they found at MJ which has SIGNIFICANT silver intercept at very very shallow depth. This once inaccessible area by trucks and other machinery is now a thing of the past since the new 14km access road was upgraded earlier this year.
Prices of Gold and Silver especially could be set to go on a bull run again soon too.
The thing to love here is that GWMO is not a typical AIM company ramped to death on hot air and wishful thinking, in fact the PR has been sadly lacking hence the SP on the floor. Management have been quietly just getting on with it, since 2019 when there was a change in management and a change in it's objectives. Cash management since then has been exemplary. There are subtle hints in the RNS's as to where this is going, I agree with what that Charles said on twitter that this has the hallmarks of PREM which was on the floor at 0.03p with billions upon billions of shares (in fact over 20 billion) which is now at 0.56p.
If that can 18 bag with all those shares then with nearly 7 times less shares here I'm sure this could do rather well indeed.
I literally know of no other explorer out there to draw a comparison that is literally weeks away from becoming a producer, has 100% interest in the assets, in one of the most stable mining friendly districts in the world, and with no debt.
With regards to the copper asset, the company made it clear that it's too big for us to go alone, hence they have been looking for a large partner to come aboard to JV. They have had quite a bit of interest to date - this imo is the jewel in the Crown as it's a potentially world class copper asset.

Yes, saw that earlier too. I think for anyone wanting 5M plus now you're looking at 0.125p or upwards...

Agree there Mounties re the huge potential of the assets they are sitting on. About to start production as well, so potential for further raises look unlikely imo, recent JV to set up and run milling plant, all ducks lining up nicely for this one.

With what I would call an 'extended' well test being carried out on the 3 separate zones since Sept, and with no further update so far, I would say it's going well and I have high hopes that next week we get the long awaited update on how the testing went with flow rates.

You're half hearted attempt to criticise me for being here on and off for years is actually quite laughable. I thought you might have been busy 'researching' instead of spending time trying to have a dig. Sorry you weren't here when it was 5.5p but I was shouting it from the rooftops back then to everyone, not stuck in some boys club shrouded in secrecy as you wrongly assume. So take a leaf out of your own post and don't engage any further, fine by me lol

Very good Kaeren - once you've researched thoroughly the whole gas storage 'project' and not 'facility' as many believe and the history/politics surrounding the 15yrs plus that they've being trying to get this off the ground then you'll be all the better for it.
And one of the advantages of being here way before you when the SP was 5.5p was the fact that we could see there was an ever increasing likelihood of H&W getting the FSS contract through the consortium as an aside to the gas storage 'project' so we pretty much knew it wouldn't remain as a 'penny stock' thank-you very much ;))

Haha, they all seem to know everything about the gas storage 'facility' that just needs opening back up once the JR is found in our favour.
Small detail there of the fact it is still just a project and needs to be 'built' at a small cost of £300M following a final investment decision (possibly ready by 2026) and that's as long as the nimby's don't find another angle to frustrate the process any further.
But I won't comment in any detail on this subject many of us have been discussing for 'years' because apparently all the dictators err I mean new posters seem to know everything there is to know ;)))

Gusto - I take it from you're continued reference to FORMER FD in you're posts that they are still posting carp incessantly here.
Probably calling me the usual McBladder (yawn)

"You must be really sad to be on here all day, everyday...FD"
"Why are you on this bb everyday posting 30+ chats a day?"

What a saddo eh lol. My advice like I said earlier is to filter the moron, job done. Then you will see this bb return to normality and perhaps FORMER FD will concentrate on ramping C4XD to make back their losses getting spiked over there the other day at 30p LOL

Trish - I can't see what that Former FD is writing as I have him filtered, I would suggest you do the same. The guys a moron, he bought into that C4XD the other day when it hit nearly 30p which has now tanked. Definitely one for the filter list, the bb will look much better for it :))

Sarah - did you forget to log into your other account before writing that post lol

I'm a bit confused here. Wouldn't it have been good news for shareholders and the company if they had of exercised their options? Would have shown confidence imo if they had done so, hmm....