Member Info for NicetoMichu

I don't love any share John Swan.

I have been/am in lots of those other 'similar' shares and Manica generating strong nett revenue for many years to come here at this market cap is a gem find in this sector imho (worth in the 2p to 5p range alone I believe...I purposefully picked the lowest valuation as this brutal game has though me to default to/wards lowest valuations..)

Thanks for that feedback John Swan. I often learn more from listening to posters with different opinions to mine than ones with similar, but less so in this instance.

I think Bushranger has been progressed decently but not strongly via drilling and other activites xtr has undertaken there to date.. and as I value Manica at an absolute minimum of 2p per share now, I can't get my head around valuing Bushranger and other non Manica assets cumulatively at a minus figure ...... and hence the current 1.5 p s/p is just too low in my mind.... and I expect s/p upticking here in the coming months.. ..so I'm a buyer far more than a seller at these s/p levels.. but each to their own and I bid you good luck in your alternative bets.

on first impressions this guy feels solid/good to me.

i respect he didn't ***** foot around the fact that the journey from here forward could potentially be plenty more years ... (to get to a successful bam sale event here, as i agree we won't take this into production but have to go through many of the steps.. some already done.. more to come.... etc..... )

saddening to me as my involvement here as been, at least that penny kinda dropped for me a fair while back here.. hopefully it's dropping for others here too.. because the amount of dreaminess i've read posted here over years now been epically large.

generally, i and all medium/long term posters have paid a big financial price for our dreaminess.. but my own naivety has lessened a lot through the previous journey here, at least.. some others too maybe... others again i'm not clear it has, yet..

I'm coming around to thinking that Bondholders that continue converting/selling here are doing so in the knowledge that size buyer(s) are categorically waiting in the wings to hoover up huge numbers of shares in or around the 2p level......

Btw I should have said yesterday many thanks to Stas and Easy who are also top posters here imho..

ps two top posts your last two Panama Bob imho.. but, like me, you're probably a bit hot and miss generally :-)

I've been in A LOT of badly struggling small cap oilers over the last decade.. and remarkably few actually go into administration .. but many are, one way or other, that diluted to oblivion that all long term and most medium term holders are all but dead; BAR well timed major averaging down.. and it's range trading few month hold bet plays who survive - occasionally thrive even - this barbaric game best .. ( for long only players, I don't short but guess it's more fruitful on average than the on average flavour of long bets )

As well as further Bushranger scoping Investment, further investment in Manica has also got to be a pretty core part of our short/medium term strategy, please.

There seems to be a lot of beyond Oxides / non refractory ore opportunities there.. And those sulphites/refractory ore generally opportunities now seem to readily justify the build out on the existing plant ...or a stand alone new plant even .. and instead of Xtr solely expecting to be taking part responsibility for a bank loan - gained off the back of existing Manica revenue - to fully cover their share of further plant build out, I propose that - something along the lines of - for every 1m USD that's ringfenced for Bushranger Development from here forward, 333k USD is in parallel ringfenced for xtr's share of costs of growing out Manica plant capabilities.

Generally, while I get that Bushranger could - might/hopefully - eventually be a complete game changer here, reciprocally, please could the here for Bushranger gang give - obviously now justified - more respect to Manica Gold project. I still believe you're absolutely not and I witness that this s/p has not rallied meaningfully recently as proof.

Seible offers: ''People who are selling at these prices must be insane IMHO''

(While I wouldn't word it as strongly as that, I did struggle to understand the selling here after our recent RNS, when this share was trying to start rallying back up.. )

I'd be keen to hear your response to Seible's comment please John Swan ?

I'm not a believer in the idea of shenanigans by Art to get mates in the driving seat here via an amazing for them bond deal.

I think at the height of the car crash here, it was as simple as these are the terms we're giving you, sign off on these bonds in the coming days or your company will go into administration on Friday.

I also think earlier Bondholders here feel almost as shafted - and their gloves are now off - as shareholders do.. but we're still alive and, on a fundamentals basis, we're in a plenty better position now than we were then, at least.

As I said no more posts last night, I'll today to come back with: llywelyn's thinking on blackballing any poster that says anything negative about COPL makes him truly special in my mind.. but each to their own.. and lovely - lovely, lovely - if it works best for for him to psychologically cope with the mess here by steadfastly remaining in cloud cookoo land though the brutal journey.

Meanwhile back on earth, and towards a little more positive balance to my posting, here is a summary of my guesses on s/p playing out here in remainder of 2023:

This JV getting over the line in 2023 is massively important to a MEANINGFUL s/p recovery here

Also meaningfully increased short term production is a must here and I'm hoping for 2000 + bpd by end Sept and 2500 + bpd by December

When - more than if - this gets past 2000 bpd, COPL has a plenty stronger hand re getting a good JV deal completed .. and, therefore, I'll guess no later than November should see a JV complete with this potential partner.. (if not, I'd be very concerned that one just won't happen with this potential partner)

The amount of ongoing bond selling in coming weeks / months will have a huge influence on how much the s/p can recover off the back of whatever production increases and ahead of the target JV completing ...I'll guess such Bond selling would meaningfully abate into production increases.. and, off the back, I'd be thrilled if this gets back to 4p to 5p range ahead of a JV... and the JV completing would be required for this to have a chance of getting back to 10p plus in 2023 .. and finally, I'd guess this will trade in the 1.50p to 3.50p range thru July & August

IMHO & DYOR

You are one of those high quality posters here Tiburn.. doesn't really need saying as it's that obvious .. but out of appreciation I'll say it anyway..

I'll stop posting here today now.. I've posted too many here already this evening.. apols..

On reflection I should have added more colour to my below post.. a concern I have is that IF the newest Bonds have amazingly more generous terms than older Bonds, then older Bondholders might reasonably say if it's going to be like that then absolutely the gloves are off from us going forward here..

Great if someone who understands sundry terms can allay my kinda guesswork based concerns on this.. I have little clue about the detail of the bonds here, beyond some excellent previous posts from some here who have good knowledge in that area .. Much appreciated on this expertise btw... and indeed I'll also add that I think there are quite a few high class posters here.. much appreciated generally..

(I'm growing into appreciating this board a lot. btw.. I look in reasonably regularly nowadays - as a far more meaningful bet for me now - and for such a busy board, in very trying circumstances, I, in the round, believe this to be a balanced and high quality board ..and am very thankful for that)

Fair enough Tiburn.. but a concern some shareholders might easily have is that various Bondholders might have clear view(s) on scenario(s) where they might, in the round, do even better if COPL went in Administration than if it didn't.

Good post back and fair enough Harry

I think you're playing to the crowd here Harry, with unbalanced half truths..

eg I'll bet that IF JBER are forward selling this, it's with a guarantee that stock is available to them in requisite timeframes eg a bondholder has already-requested the conversion and it's being processed by COPL.. and what JBER/Bondholder are doing is technically not illegal

People offer endlessly how brilliant the MM's are at playing the game.... that just doesn't square with them being dumb enough to risk their licence over illegal plays for this, one of many stocks they MM .. not least as this is a stock that's likely closely watched by FCA, given what's happened/ing generally here?

And I'm tired / bored of people ongoingly deflecting from what is the root cause of the mess here.

Generally, as opposed to getting on the - very crowded - MM are criminals band wagon here, my view is there's plenty stronger a case for the CEO and CFO of COPL losing their licence to be UK listed company executives for bad/incompetent stewardship here, than there is for JBER losing the MM licence off the back of any illegal playing here

PS: I've never shorted a stock in my life, I'm long here for plenty of months now but - via averaging down - with an average that's not a total car crash versus the current price.. and is likely a decent to good one versus the field too. My big HOPE is that this company produces enough oil quickly enough not to go under.. and then comes back incrementally from there... ie me not potentially losing all my BET here.. ( what shareholders might get back in an administration situation is clear as mud/guesswork granted ) My current guess is 75/25 (%) that COPL will survive administration in at least the next year, and versus the current s/p I'm therefore ok(ish) holding here..

If forward selling of bond that are very soon to be converted is an ongoing thing here, as plenty seem to think is.. would a reasonable follow on thought from such recent - for eg - 5m share sales be that more bonds might easily be converted in coming days?

I'd have gone with 'A g'dem Rocky Ride' for the new alias.. and I'll call you that going forward, for sport :-)

Welcome Back !

Fair enough Gixxer.. we all have to have a view to play the game.. and everyone entitled to their opinion..etc ..

And there is absolutely no doubt that CB has A LOT to answer for in the way he guided on Bushranger previously

PS : If this doesn't get past 2p this summer, I'm going to change from: The Birdsh_2_t factor.. to The Birdsh_x2_t factor btw !!

After yesterdays RNS it's very hard for me to understand people selling around these levels... eg john Swan yesterday and more selling today.... which is, so far, putting some breaks on a rally here.

(I guess there might be an element of distain/contempt towards CB from size holders whose mark to market has been hammered in the last year here, in any selling anywhere around these levels.. day traders always have some sort of impact, but their turn would be very small at this time, so they're not really a thing versus any sort of buying around this level, I'd guess.. )

I still expect this to get back to 2p + soon enough.. and as mentioned by others - eg Howzap - there may be another - good news - RNS to come ahead of AGM - eg around pre concentration down the Bush..- to help too..

2p may be incidental for plenty, granted.. but it's a start back at least..

In the round, this s/p is just too cheap versus fundamentals by most any definition, and even including the Birdsh_2_t factor, I'm expecting this rally to have legs.. and I might easily add a tranche or two more as it goes..

IMHO & DYOR

Very approx 4 to 5m usd - not gbp - I should have said