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So the way I read this is that it doesn't really matter if it was deemed illegal or not that the bod was issued with a bond, the overriding fact is they have simply ended up with way more debt than what the assets are now worth and we are out of time.
I think this is the view regulators will take with this one. Unfortunately on this occasion this stock had quite a large p.i retail following so quite a few got suckered in and lost money.
I think if they were close to breakeven or touching on being cash flow positive, other sources of funding may have been available to them.
But clearly with production at just 1,083 bopd as at 28th December and the Senior lender calling in the debt straight after the JV terminated, I can't see any other form of funding being available or anyone willing to throw good money after bad.
I've always been positive of the potential of Canadian overseas in the past, but the bod through their own incompetence as well as other external factors have well and truly screwed this up. The 2.5M placing is just to allow a bit of time for a firesale and nothing else, so I simply see no way out of this now. Wish I could be more hopeful but this is the sad reality.
No1Plasterer COPL bb
"10 bagger when market opens Today 08:37
"Hold on to your hats fellas we are off to the moon !!"
You think HE1 is utter dog crap and yet today you posted your prediction of a 10 bagger over on COPL on opening on Tues when, it closed at 0.225p having dropped all the way from 60p+ and after hours they drop another clanger with a 0.015 placing haha.
The last few RNS's there have been disastrous on an epic scale and COPL is now finished but good luck there!
"if anything,the previose data,has increased tthe COS,in the hope of a commercialied find"
Absolutely it has 100% !
"So if we dont sell the assets by Feb we go under. Who is going to buy assets in that short timeframe?"
I personally don't think anyone will now.
Very disappointed and dismayed by what is unfolding here. Just have to accept we've all been had and well and truly led up the garden path.
Because it is now known by all how incompetent the bod have been and just how bad the situation is with current production, lack of cash and lack of a JV partner, any interested party would just wait for copl to fold.
That's what I'd do if I was a major now looking to pick this up on the cheap !
Risk Vs reward is definitely phenomenal here agreed - hence just added another 2.094M shares GLA
This is like a coiled spring ready to blow !
Easily 2-3 bags here before news !
"I’ve got an idea of how I think this will
Play out"
Lol, do you have AN IDEA as to what this week's lottery numbers will be as well so we can see just how good you are at predicting the future haha
Whether a placing or another form of funding, great entry at this price which has been hammered down last couple of months. Will be picking up more this morning :))
A decent rise today. 1.3p yesterday was a gift :)
"the Company is in receipt of a number of unsolicited approaches from potential investors"
Definitely worth a punt down at these levels.
Even if say a 50% diluted equity fundraise materialised - this was at nearly 6p not so long ago, so a potential diluted fundraise is already priced in with the Mcap and if other funding materialised instead then the value gap would end up even bigger!
I agree dilara, which is why I think it WILL happen imminently now. The matter is not going to go away and they know it.
Bloomberg.com
London Stock Exchange Is Hit by Third Outage Since October
7 mins ago
Anyone that has seen jemgees posting history won't be at all surprised with them making ridiculous statements like the ones they've made this morning!
On the contrary, I don't think anyone who is in a position to buy any shares in Vast will get to know about the resolution of the diamond parcel until it's made public, which is a good thing so there will be no insider dealing. Your either in when it lands or you're not and completely locked out when it does!
Bottom looks to be in - onwards and upwards from here :))
Nice 5M buy right on the bell this evening :)
Took another 4.6M this morning, not yet showing up GLA
Think he only mentioned it because he unexpectedly got asked a question on it in the interview which he wasn't expecting to get asked so was put on the spot. So can blame the interviewer for that lol
Started buying some at 0.2044p this morning - looking to add more but price starting to creep back up as expected!