Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
You share my sentiments, bear. HarryMann went through a difficult period last year, I remember on this board, and he got nothing but positive comments and reassurance from those on here. Shame that he feels the need to resort to that kind of behaviour. Sticks and stones and all that but still a modicum of decency is not too much to ask for.
How many times have we been through supposed 'leaks' the past couple years? Normally it's getting ramped to high heaven, this time it's the other way round based on a fake news article and rumours of imminent placing. Almost wish we had the raise this morning, surely wouldn't of been discounted 25%! Madness today! Anyway, I expect to see real progress in the yearly results.
Jace, your points are valid (although I don't agree a project is worth zero until it's underway - it is in effect already underway). However, as we pass each and every one of those gates, value is accrued and risk is diminished. Hence why I think we're cheap for what is in the pipeline, even with a placing looming. Of course, the less dilution the better but my point being that once we are underway, which I fully expect to be soon as I believe the project is moving forward, then the MCap will reflect the project potential. It has to be multiples of £4.5M or even £6M with very significant dilution.
You think the project is only worth circa. £10M? Look around similar companies, those that produce 3-4k bopd net with a development prospect of a further 9-12k net bopd (3 wells) in 18 months. Thats the plan. We just need to know it's actually happening according to that plan. That starts with SPA and approvals. Admin out the way and I think we are in much safer waters with a more defined schedule. Thats the way I see it anyway. Eyes are firmly on the yearly results, hopefully next week. Don't see anyone ramping, it's been anything but that for months now.
Wonder if this has anything to do with us... https://twitter.com/NigeriaNRC/status/1105830336901058562?s=19 At least they are on the case of increasing activity
Its the lowest the SP has ever been, the most oversold in a very long time, almost all current shareholders with a higher average. And I'd suggest we are closer to getting this project underway than ever before... Even with significant dilution, once the project kicks off (allegedly approx. 3 months away), the SP will reflect a higher price in line with a higher MCap. Main risk is for whatever reason it gets delayed beyond yet another placing. Certainly a possibility, but I'd say much more likely we will reach significant milestones before that (SPA, approvals, spud date, drill). Hypothetically, a doomsday 50% dilution at this price is only circa. $6.5M MCap. That's incredibly cheap if that placing gets us to the drill and beyond. So, even in worst case, there is scope that you'll still make money. Factor a favourable case of alternative funding or positive news before and it makes good sense IMO, based on a risk-reward.
Keep what positivity up? This company has been bashed to high heaven, several posters have given up hope and I'd imagine a lot have sold out at a huge loss.
Yet the facts are not known, not completely anyway. Rift, the placing in August was conducted under different circumstances, which I think you know full well. The letter and 60-day notice from EM was one hell of a spanner. A number of people sold out after the results in August after reading the statement about EM, then the separate RNS about it all but confirmed something was up. Then we got hit with the placing.
I would argue that we are in a significantly stronger position, operationally, than we were back then. We will see when they release the results but I'm expecting considerable progress to have been made.
Why will it go under exactly Oilberta? There is absolutely no evidence to suggest such. Again, the price follows sentiment on the board, exasperated by what is being posted here. Why, after all the work that has been put in over the previous years, is this project suddenly going to collapse? The sentiment is low because of the amount of time it has taken against expectation, and the potential for a raise, however the project is still chugging along and in time I'm sure both of those issues above will resolve. Agreed, we will need operational funds, as do many companys, but we don't know what form that will be in, nor the amount. Anything to say that Arthur won't raise piece small to get us over the line of approvals / SPA? Or some other way that's not 1+ billion shares? Certainly a possibility yet the most widely discussed scenarios are worst case dilution, or the project is going to fail, or the company is going under. I'm still of the opinion this project is very much alive
Email I received from Arthur regarding the donation:
"Well first of all the amount was substantially embellished. As he told me fake news. That said I gather there was as a donation to both campaigns similar to what would be done in the US or Canada in a close election. What you and all the others on the bulletin boards think is the approvals of our program are political. If you think this way you are very wrong. First, why should they be, and what evidence do you have to say they are? We are with shoreline are the Contractor, we have had and have not ever received anything which would suggest differently."
haha. Fair enough Bell. We each have our own ways but hopefully targeting the same result in the end.
I would be interested to see the traffic of unique visitors to this page. Not sure if there is an easy way to do that? It doesn't take too much to shift the stock one way or the other - a couple thousand quid probably. My point is that get 1 or 2 traders miffed or doubting their investment, then it can cause panic and the domino effect ensues. Alternatively, get one or two investors excited and hopeful and then domino effect can happen in the other direction. If these boards and social media had very little effect, there would be no such thing as ramping, de-ramping, pump & dumps etc.
Good points Freedomshot. I'm not saying that only positive comments should be allowed, or that the risks shouldn't be discussed. I've never said any of that. What I don't want to see is stirring up a storm of over-the-top negativity when the situation is not definitive. Anyway, Berta, apologies for causing offence. You've got a different opinion, which is fine but I don't agree with.
Bell, I challenge posts that are so obviously negative that they cause damage to this share. If you can't see the obvious harm constant negative posts have on a share then you need have a closer look. And for what? To vent frustration, warn other investors to the detriment to your own investment, to stick it to Arthur? I can't enforce you not to post whatever it is you want to, but those sort of posts (i.e. were all fk'd) have an impact which isnt helping. Strange thing to say if you actually wanted this share to do well. Same goes for ramping during a positive run to cause a spike. It's exageratting a scenario and playing on others fears and hopes.
Brady, don't get me wrong, I welcome our Canadian friends on this board. However, OilBertas attitude is exactly what we don't need here. Inciting anger and noise can only be destructive. Arthur will have to raise, before or after news, but the only thing Bertas posts will change is the starting point of the SP when news lands, either good or bad. So, I ask Berta, if you have nothing constructive to say, keep it to yourself and let this play out a bit.
All you do is post negative comments Berta, you're basically just a troll. One that only holds Canadian stock and yet constantly posts negativity to the LSE board. Why? The LSE performance of COPL probably doesn't mean much to you but I for one have a lot invested that is affected by the rumours and the sentiment that propagates on these boards / social media. We've got to contend with Art but your posts: dead money for 6 months and 1 billion share dilution at 0.15p. How is that not trolling? The stock 5-bagged in the lead up to the Liberia drill. Hit a duster but that's the chance you take. This is the next one, taken a while to get here but we knew (or should have) the risks in an African play. However, spitting bile every chance you can to talk down this company is doing absolutely zero good, particularly for those invested.
Lots of accusations flying about this morning. Atiku blaming Buhari, and vice versa. Interestingly, there is a rumour that the chairman of INEC, Amina Zakari, is a relative of Buhari. That if Buhari was going to win, it wouldn't of been postponed. Also, Buhari turned up to the polling station this morning unaware the election had been postponed. Haha. Shambles is the correct description.
Brady, I'm not saying he wouldn't do that if he had to. I'm arguing the sense of doing it now because he doesn't have to. We are at very near the lowest point the SP has ever been, and potentially 5 months away from a very significant and lucrative drill. Why not wait? Cash balance is OK for another 6 weeks or so and there is news flow potential. Raise at a point that would benefit himself, his employees and his large shareholders. Arthur diluting everyone to high hell to fund an acquisition is not the most likely scenario. We can agree to disagree but I am convinced we won't see that level raise hit the market here.
Maybe not Shareholder driven, but similarly he's not destructive either. The level of raise required for an acquisition would completely destroy all Shareholder value, including himself, his employees, any institution involved and of course all of us. I just can't see that being a likely scenario because he wants to acquire an asset. The update was for the whole year, so the target for an acquisition is for all of 2019. Why rush to do it now at a terrible price? It just doesn't make sense whilst focus is elsewhere with OPL226 and to an extent, Moz. As a side to the 2017 placing, I think there were also other powers at play that spiked the price, namely a few posters that spread rumours of financing being sorted, ABMan for one. I wonder whether he would of placed for non-operational funds had it not spiked to that price, considering nothing materialised from it if it. No one can answer that, just a thought.
Jiving, there is a difference to raising 250M at 1p to pursue a possible acquisition given the opportunity as opposed to 2 billion including operating expenditure to do the same. Id be concerned for an opportunistic placing again for an acquisition should we 4 bag. But slipping like we are.. not so sure. What I'm saying is circumstances dictate the price and level of the raise. It's makes zero sense to place where we are just now when he had the opportunity to do it when the price was 25-30% higher a couple weeks ago.