Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
After a few days away I see still no news and Aga reared it's ugly head on the bb again Thurs/Friday so here's my tuppence worth. Though it 'seems' everything is falling into place and I agree Schlumb dovetails in nicely; I am still holding back from topping up further until we receive something substantive/real from our company or are informed what the eternal hold up is.
Has anyone else noticed the last, now forgotten, promise of 'news in a few weeks' along with the latest hope from the co hinting at end of this month or maybe June seems to correlate with Aga court dates?
If,as I believe, and Jiving mentioned on Friday, just one of the 'moving parts' is withholding a signature due to company/govt policy that any outstanding lawsuits/claims against the licence/ project [no matter how dubious] have surfaced in their DD need to be put to the sword first and foremost, then the rest fall into a holding pattern which is where I fear we are now.
IMO I find this more credible than jurisdictional issues are delaying the bank process as has been mentioned by the company which I think has as much credibility as the gag order from NNPC. However, in this instance, I agree with Art's policy of not wanting to put wind under Aga wings hence appearing to give it no credibility simply writing it off as a 'nuisance'...that has lasted 8/9 months now!!!. I think we are all aware Aga end game is not to actually win the case as that will never happen but simply to wear us down until we pay them to go away. Or worst case scenario they drive us under where I fear 'dark forces' may be at play --take your pick who falls into that category.
That could explain why, after we failed in our main goal to have the case dismissed last time, instead settling for the consolation prize of now becoming enjoined parties, the news never materialized.
With the next court date due 23rd May, we are again told there may be news at the end of the month. Or as I believe we will not get it dismissed then as the case is re jurisdiction, at best we may have the dismissal lodged for review in June, we are told news may come in June. Nice cover ass Art.
I will not go into finance/funding as I believe has been sufficiently covered on the bb to date.
Perhaps I'm reading too much into it and news will drop before the 23rd in which case Yippeeee, but with nothing coming from the company apart from a laughable Q1 report we need to make our own decisions on what to base out strategy on and I for one will be following the Aga proceedings as best I can. I will leave you to draw your own conclusions.
GLA LTH
Seems you have to come on early to avoid the Pond Life. Shibs the co also replied to someone on Weds or Thursday to say they were unaware at what was creating the spike. Which tells me they are not in news blackout mode just yet.
Good morning.
Firstly I would like to apologise to genuine investors and interested parties for giving the imbecile fresh ammo by mentioning Aga which he clearly had no idea on. It just shows his MO is to learn some basic biz terminology to throw around indiscriminately to cause confusion and the same, in this case, COPL he picks up tidbits from the bb to drop out but clearly does no real research as missing Art mention of such on a recent podcast shows. It's a real shame that we can't filter recipients when posting as then the sad little prick would be staring at a blank screen.
Re Aga we're all in the same boat and I hope we all agree it is an issue but differ as to what degree. I may be at the one extreme believing it is holding finance up while others regard it as merely a nuisance. This disparity I think we can pretty well put down to poor communication and believability from our management.
I don't think I was on my own thinking this had been put to rest with EM and nearly spat my Tea [Yorkshire] over the keyboard which would have been such a waste when Art mentioned it out of the blue. Especially after he had been so dismissive to this point --which does make me question has this attitude bitten him/us in the ass.
I didn't realistically expect to hear anything yesterday but think info and rumours may start to appear today and we may receive confirmation from the company after Easter. I would encourage as many as can be bothered to contact the co and ask for clarification in a brief RNS as opposed to a paper glider or whatever form of non-binding communication Art chooses to use next,
I am only looking for two words "Case dismissed" any further delays or poppycock will keep me firmly on the sidelines unless some other form of good news such as finance miraculously appears. Others may differ.
To bring this to an end,yes it is a David and Goliath case but David is certainly not cowed by the overwhelming forces stacked against him and the fact I think they've not shown up 2/3 times now [easy ploy] and our legal team haven't so far as I know managed to get it kicked out makes we wonder if our QC is on a youth opportunity scheme.
Ignoring Harry C&P. I totally agree in principle that Aga is up against it and should have been put to rest long ago but the fact remains they are still here and making a nuisance of themselves. Let's hope for some good news re this asap and I will take my position the moment that arrives.
Just catching up on yesterdays bb I see Harry managed to smother any serious form of debate or info exchange yet again.
Staggering that the serial ramper --or is he a de-ramper in disguise, the same result in his case, was unaware of the Agamore dispute supposedly being heard in court on the 17th [tomorrow]
Now IMO even though Art continually dismisses this and to his mind 'Didn't want to justify it with an RNS' last year, accepting it's most likely a completely bogus claim from a shelf company rumoured to have ex NNPC employees and govt ministers behind it, who are presumably after a pay off to go away,it seems to me they know what they are doing and may have some financial clout as are still a thorn in our side!
Again IMO I have had a long-held belief that despite denials from our ever trustworthy CEO this is actually holding up finance!
Hence IMO tomorrow becomes a pivotal day in moving forward. Where IMO news the dispute has finally been dismissed rather than go to arbitration in London as rumoured, if Art deems to inform us, may well free up a route for alternative finance else should the dispute drag on placement will follow shortly.
So the next news I'm looking for will be re Agamore dispute, most likely after Easter.
As a result of this I've decided rather than jump in with a hefty top up as planned I'm taking my current hold and jumping out until we have some clarity either way.
Please note the excess amount of IMO's as in reality WTFDIK
To be slightly more blunt than succinct I would say we are where we are as an awful lot are on the fence for the same reasons as me.
As in: we have been let down continually by Art who refuses to place anything substantive in something binding expecting us to believe his Podcast piffle. Then to add to his credibility it was mentioned on here a few months ago that he was actually a peak to trough with COPL a minus 500 bagger which to my mind with sp reaching a new trough makes him a minus 1000 bagger...give or take the odd bag. Put another way if you got in at precisely the wrong time Art will have left you with 1% of your original investment.
Oh, and did I mention we're out of cash and he's already warned us he will be placing this month.
A little harsh perhaps but until we are given clear direction that can be believed I will still sit it out before topping up as I plan.
Quite simply, guys, it's squeaky bum, bite your nails, sit on the fence, expect the worst [which we're well versed at] pray for the best time. Nothing much we can do for the next couple of weeks at least so may as well go into hibernation or hit the bottle.
However, the problem will still be IF good news is 'confirmed', or as near as dam it actually happening--my guess it will arrive along with Aga news.I'm still not convinced Aga will be finally sorted so could drag on further and will/may still hold up progress on finalization with finance, so either way, the market will still be subdued due to our ever growing need for cash; this is the elephant in the room that Art really needs to attend to first and foremost. Or perhaps better put, the biggest elephant in the herd he needs to confront for the moment.
Also IF Art does turn to the easy placement option --hit us suckers again-- that may intimate to the market he's not really working that closely with the financial institutions as we have hoped and/or they still have reservations so will make the right noises while still sitting on their cash.
Good 'open letter' to Art, on Friday,I hope he reads it, and I see no harm in as many as poss sending it to him.. I have my own agenda with him as we had contact end of last year where he either led me down the garden path or actually is clueless himself on procedure -- has anyone thought of that one?
Regardless of approaching cc,or not,having been bitten more than once by Art before, I for one am not prepared to top up as I intended given a decent report, based on what 'may' happen down the road as IMO not yet carved in stone, especially when those 'possibles' are being used/spun to intimate other news we've been waiting for all year are now in place.
Art for all our sakes has to try being straight and above board instead of relying on endless innuendo and conjecture which we and the market have clearly had enough of. How on earth does he think the company can be dragged up by the scruff of the neck and turned into a mid-tier outfit with no-one believing a word he says and him seemingly clueless on how to release the necessary news stream in tandem with our exciting drill programme?
Interestingly he seems to have two IR depts at his disposal but neither has given him clear direction as most likely too busy covering his subterfuge if indeed they even have a clue on what is going on. This has to change NOW.
I also struggle to believe any authority, even Nigeria, would issue a licence on the basis of it being kept top secret "Here you go chaps now your project can start creating much-needed revenue for our country --oh, just don't tell anyone you have it" Absurd!
I intend to wait it out until we get something positive confirming the promising developments are actually happening. Which brings me to a further dilemma dealing with Art and our company; should this happen will he actually bother to inform us in an RNS or do we have to play a guessing game until the next Q report is due?
I can't believe I have to even consider such a scenario but that's what happens when dealing with a CEO who seems incapable of joining the dots: material news--shareholders--oh so important market sentiment--sp/mkt.cap, and a BOD [board of duffers] that can't be bothered to insist he follows basic business practice.
I fret there is a placement coming as in a recent cc he talked of alternative means of finance on a podcast then diluted us shortly after but hope and pray he finds 'any' other means of keeping the lights on over a place at this sorry sp level
Hey, at least the oil is still there, let's hope it doesn't remain there much longer or someone else doesn't grab it.
Dam, while I was hoping to awake to if not good news, perhaps something reassuring in our end year report instead I am confronted by the very pro report from NSA!
While the original statement on the Overview dated Dec 31st re NNPC is correct it is annoying that due to correct process the caveat dated March 15th does not reflect the information fed to us via IR which not only sends a message to any interested parties we do not have NNPC as of yet,I take it to mean that they, same as a lot of us and the market are not convinced we have actually received the NNPC approval until we see it in something binding.
IMO it is this and many similar oversights created by the staggering lack of communication from Art and our company that has led to the current sp and rock bottom market sentiment! Not forgetting that the morass of red tape and 'unforeseen' holdups that have been so destructive that I think, we could have rightfully expected Kola/Shoreline to have handled them better than is evident, that being their department!
I have pretty grounded expectations of what we may get from the end year report but really would like to see some clarification on the EM and Aga disputes along with of course NNPC and DPR progress rather than once again leaving us with more unanswered questions than answers.
AJH61 Sun 9.21
Regards the recent 'factual' email from Cathy to Anthony: While faintly reassuring to some I'm sure, over the last 15 months I have seen many variations of the same theme from 'our' company. Always excuses dressed up as facts, whether 'African time','NNPC reshuffle', 'claims/disputes with our licence from EM and another spurious company', 'Govt requested extension to our drill plan', 'new parties coming to the table offering finance','election induced news blackout' all regarded as credible reasons for further delay but few [I would have to check as some may indeed be credible] deemed newsworthy' so with most we're 'fed' these excuses/facts for further delay via Cathy and other investors!!! all with the caveat."Things are progressing" blah blah.
Interestingly it was about a year ago with sp around 0.7 I complained to Cathy I was 30% underwater with this and she replied that wasn't too bad as most of the LTH's, mainly Canadians were 700% under!!! So one year further on, after the approaching placement I and many others I presume will have joined the ranks of the other poor sods needing a 7/10 bagger just to get above water. And for them...it just doesn't bear thinking about.
Art is the worst CEO I've come across and should not be running a company unless it is specifically set up to suck up investors cash with scant regard for ever attaining them a return! as is now only becoming apparent to me.
This was posted while I was typing https://capitalmarketssolutions.com/2019/03/18/copl-placing-alert/
It's difficult to imagine that so many were taken in by the 'false news' [GoogleSolgas Nigeria all required] or Harry's silly placing panic. More I think it underlines the lack of confidence in Art and the company, Kola/Shoreline, as there has to be something holding everything up hence there is no good news worth releasing with the corresponding fall in sp and sentiment resultant of that. And for anyone expecting substantive news in the next Q report surely if it was material then Art should have released it already!!!! Desperate company, desperate mangement, desperate times.
To date, the rescheduled election has gone as smoothly as could be hoped from our perspective. The devil you know I suppose, let's hope for all concerned it remains that way.
While I don't believe Kola donated $30 mill to Atiku alone, he most likely donated to both equally, I do hope his apparent support of Atiku hasn't muddied the waters with NNPC.
So if Art has been telling the truth this does give our team, him and Karim bros, up to a month which IMO is a reasonable amount of time to pull together the requisite news to release the RNS we need to bolster our sp before the approaching raise.
With NNPC approved and DPR seemingly a near formality --all according to Art, that does leave SPA/finance the major hurdle but if we can indeed release that at the same time after choosing the company but before final terms, we should be on our way. I do have one niggling worry that even with the promise of finance we may need more cash in the bank before permits and licences are signed off but let's hope I'm wrong.
However, all is based on expectation of a normal level of competency and timeliness which we've so far not experienced. Just lies, excuses and kick cans over the last two years with promise all is on the cusp of happening then -- a raise!
So come on Art, Kola no more excuses, please don't let us down this time as the consequences will be dire for all of us which would be such a shame with such an exciting prospect tantalisingly close.
The more pressing issue is whether Art will raise before or after good news. I hope he would like to do the right thing but good news is out of his hands, hence if his podcasts are meant to try to raise sp/sentiment pre a raise why would he bother with the interviews if good news is imminent which would serve the purpose better?
The next couple of days align with Art's last placement two weeks after Podcasts. I know it would be insanity to raise now but it's Art we're talking about. Crossed fingers and everything else he doesn't let us down ----Again!!!
Good morning all. While in the main I've tried to be supportive of 'our' company and CEO, at one point not so long ago actually reaching the dizzy heights of being optimistic, Art's recent leaking of feel-good [sp supporting]info to chosen peeps in the hope they will do his dirty work for him then not substantiating it in the last RNS leaves me once again in despair of the man. I struggle to accept that because of the election his hands are tied on releasing news as he has reliably informed us the election does not affect matters.
So his next move is one of the most critical, defining for him since my days with the dam co in Liberia --which seems like decades ago. As discussed, in the short term he has two clear roads to take: Either he drops a placement on us regardless of the damage that will do to the company and our investment,and that may well come next week if he follows a similar timeline from Podcast to raise as last time--who can forget Black Friday Aug17th where I for one vowed never again!. Also this time I fear damage could be compounded by the realization that in reality, the long-promised good news may not be imminent after all! Or if at all possible he waits until he has the relevant permits from DPR, supposedly in process, releases that along with showing in a more binding RNS that NNPC approval is indeed confirmed. However, this is going against his absurd claim he will not release info piecemeal but all inc finance in one RNS but if he would be so kind to do this then a post news placement on any sp spike that may create would be acceptable and expected. I'll also throw out the wild card that I suppose he does have a further option of finding an 'alternative' financial source for the interim --even slashing the expenses but that is what would be expected of a 'proper' responsible CEO led by a similar BOD.not a bunch of arrogant self-serving buffoons!!. Finally, as I have not sold all of my substantial hold yet, still on the fence, I hope for all our sakes that for once he takes the correct route and more importantly, his antics haven't scared away the market regardless, which I think by now has to be a real concern.
So the prodigal son has returned to take us to the promised land! Harry [bless him] is a visionary, an MBM [multi bagger magnet] with impeccable timing so our stars must be finally aligned. What we need now is the market to sit up and notice COPL is still IMO wrongly priced as a potentially failed explorer; when I[we] believe it is on the cusp of becoming a near term producer, then in short order a producer with a growing portfolio and grounded expectations of becoming a mid-tier company in the not too distant future. In other words a very exciting risk/reward prospect! Most on this board can see it, I know it's all noise before RNS day but IMO the higher the sp before news arrives all the better springboard to give us lift off. I suppose the rest will miss out waiting for the first good news to land. This is going to be OUR year!!!!!!