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Personally I think the lack of JV mention is telling - in the last few operations updates we have mentioned it. But this time no mention.
I see this as extremely positive - one theory is the JV partner has been dangling the JV and a ever so skinny cash injection and lower terms as he could see the financial cliff that COPL has been up against.
For me, the bullish back to past production peak in circa 4-8 weeks and no mention of the JV - is a clear "Get real or Flock Off" message to the JV. Far from destroying our chances I think we will have acceptable terms offered and an agreement within 2 weeks . ie we can now survive without JV so you had better put up or move aside to avoid being trampled by the other potential partners heading this way. Given they approached us, the bargain buy is gone, now still do a good deal and move this forward - corporates dont like to fail - it looks bad for the execs involved. At Exxon (he he) no added Kudos for a bargain for the team, but equally if fair price paid - good work.
All imho but I am happy to wait a little longer
Hi HD,
Hopefully the message from the reporting period will also be the future facing potential - when working (not sure normal rules apply at the moment) the market is forward facing.
Eg bank the performance, note the expanded production capability, note the expansion of copper production runrate, the impact on future free cashflow, the chrome ramp up timings and see the forward p/e is bullish.
I am not expecting an explosion in the share price, but after a wobbly period I am hoping we reset a growth message, a free cashflow message and with that alone and the expansion hopefully we will see ourselves somewhere in the double digit sp range.
I'm not planning any selling here till 20p plus so reassurance not riches the goal for the remainder of 2023.
GLA
NtD
And in that least palatable scenario, Magoo, we still have Cascades whose NAV more than covers our lowly MCAP - with a free ride on the development of this.
GLA
NtD
Thanks BB regulars, the price may not be turning, but today for the first time in many months, I can feel an element of excitement rising in the BB - just need to now see this transfer to a SP rise.
Whether you are an ART fan or not, we desperately need a change of talk track here - these production figures should provide just that, and as with other LTH on this board, I would be really keen, strap in folks keen, falling off chair keen, for a forward facing interview around the increases in production and where we could end up in short and mid term.
ART has a chance to flag us back into a positive rising share - lets hope he takes it.
Hi BB,
Share your frustyrations and also your outlook - still enough potential value here to keep me involved. And I also agree with Ragnarr - Satoshi to keep pushing out linkages and code for FX and we will see where that takes us as the next phase of adoption /bullrun hits - likely from the halving next year.
Dull but with potential
AtB
NtD
It would be good to get some feedback on Mark body language/demeanour today - i agree not expecting any news from GM but partnership / LCM news due.
I would expect Mark to be uber busy even without the GM so i suspect main takeaway will be he looks dog tired!
First time I have seen sloppy comms in relation to ZPHR and I hope the last;
6th June 3/4 of way through 8900 feet of tubing - in later CH video over 9000 feet of tubing
And now the Auctis note change on progress.
Beginning to think that it might have been the details in the 6/6 RNS that were incorrect.
Anyhow, it doesnt materially change the important stuff due here and hopefully this will be the last inconsistency.
BB
You may well end up being right, but as of now, this isnt in the 1's so you are effectively asking us to compliment you on calling something right that hasnt happenned.
So, 10/10 for effort, 0/10 for result and 0/10 for needy ego fuelled post.
AtB
NtD
We have dropped 28% without a valid reason. When similar rises are seen without an obvious cause there are statements from the company - I believe we must be due one here, or, there is news coming soon and we will not like it.
Either way this makes a farce of market rules - I didnt think I had anymore room for disappointment with this share, but what do you know, I did!
Production very positive - would be great to have some narrative on how much of this expanded production is from high pressure and for how long - assumption without that is the current daily rate will already be operating much higher (as if switched on increase on 21st of month, the June figures only get a third of the increase in the average).
So safely looking at a material increase here which would be great news and if it can even our keel, allow a more rational management, financing and BB tone to come to the fore.
GLA
NtD
Hi
With the legal funding due dilligence to close end of June, and then if positive an offer of support deal share, this is a critical few days I think. If we get a local deal, we need to lock it in before we brush off the funding - otherwise we will be into the grinder (albeit with a very strong set of protective pants to wear for the process).
So if we are to get a faster and more lucrative local deal we need to be hearing about it in the next 5 working days I think.
I am surprised we are still so far under the radar - if we get the local deal this could move very very quickly.
I am hunkered down and enjoying the boards relative revival. We are a long way from the John Lewis (brilliant) daily summary days and I am glad he's still knocking about in this share. In summary this is still very speculative but i think we are in the squeeky bum time phase of this till the end of June. Only surprised this isnt getting more exposure from the gamblers given this is just about the highest stake game on AIM at present. Go on Mark!
NtD
Too much introduction of FUD - BUTTermILK
Yes we produce copper and there has been RNS commentary to lead us to believe we are on track - versus your blatant misrepresentations on copper.
I like discourse and varying opinions also but difficult if the other person introduces wildcard non-substantiated claims.
We will have the Northern strategy arrive, we will hit copper and just for you and your style, we will be expanding to Copper recovery in Chile
AtB
NtD
Big splurge of opinions overnight . Whatever - LTH's can see the growth curve and the cash to continue. Not perfect but a business of great value is being built here and fluctuations are just noise.
If JLP is the Turd in your life, you are living in a lovely lovely world.
I have the luxury of a very low investment average but i think there is a lot of short termism in the new posts.
GLA
NtD
My goodness, Lawrence, I hope so. I havent a massive stake here, but any deal is likley to add multi-levels of value from here and would be very life changing even with a relatively small stake.
Exciting times here
Ultimately we will find out the timing at the point of receipt of news so patience till then.
The only reason I think it may be quicker is that in the RNS of the 6th of June they had already inspected and if needed replaced 6500feet of the 8900 feet of tubing. 2 weeks later - hence my optimism that this woek could be more advanced in this month.
Thanks Ezhik,
The cynics will say we've been here before (and we have with both Share price and situation) but I am very much excited about this 36-2 test. I may have been premature in my news excitement yesterday, but i feel we have turned with that tweet and a positive stance is going to push the share. Positive news can be given in a tweet that production test has began - could even be this week, followed by an initial flow rate update soon after that.
Hoping SP can return to the fours this week in anticipation - who knows the impact of the 36-2 test - I think its going to be monster sized but unfortunately have to wait to find out.
GLA
NtD
Concerns me. I know (and understand why) a lot of posters here do not appreciate Ryan but given his salary and CFO status I actually find it concerning he isnt on the board - it s a real sticking point for me of concern. I assume he doesnt like the bond holder strategy (of ARt'S) and has been asked to be board member but feels COPL are too risky and doesnt want to be a board member - if it was a competence issue he wouldnt have had big raises. Personally, I like a little tension between the money man and the mission man - but i dont see structural control here and look at the result.
I still hold despite large losses and I am optimistic of increased production and a JV but I will freely admit that I should have done more DD into ART and the board structure - i dont think I would have invested if i had.
I think we will hear news this week - not insider knowledge or based on any evidential basis - just gut feel that we have gone long enough now to have new news.
Hoping another share comes good so I can add more here at these prices.
GLA
NtD
Hi Blu,
Whilst I am broadly in agreement with your synopsis below, I would differentiate somewhat Dynasty and Satoshi. Dynasty were looking to IPO but since then the market went to pot for tech - I believe they are simply waiting for recovery and in the meantime growing the business via deals - whether the pace of growth is slower as a result of no IPO funds I dont know - but, tbh i would be okay with this if they just said it - "IPO market changed, we think it will be better in H1 2024" or some such.
Satoshi is deliveringnow, the shake up of positions did seem to have an impact, its just at what point does commercial success factor in, and do they have the right team to sell their product?
I never added Satoshi in my valuations but had itas a wild card but Dynasty lack of comms is very annoying - if they are doing well then just let us know.
Unfortunately this has become a shelved share for me - but that could change any day with the right news. Personally speaking, still too much potential for me to sell and move on.
GLA
NtD
I have been here a long time having originally bagged a "bargain" as PAT dropped to 20p. Average still higher than price but not by much.
The price action this week will be very interesting - the GM implies there is news coming and i would expect the city grapevine to dig out whats happening and the share price to react accordingly.
I remain very excited about this share - Cascades still more than underpins the share price so all the India excitement comes for free - whats not to like in that?
GLA
NtD