Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Mr Cowan was quoted in the 15th Nov RNS referencing the 'doubling of gas injection since Q3 2023'. It seems this did not happen. That is a difficult position for an executive to be in. Doubtless he/COPL will need to answer questions on this matter.
Despite what has happened this week, is it not the case that COPL would prefer dealing with the SL longer term rather than Anavio? COPL had a shotgun wedding with the latter to finance the CUDA deal. That was on Art's watch and we have a new team of directors now. Given the likelihood that the SL did not want to back the CUDA deal at the time, decent GGS and field results now could change their views. With financial backing from the SL and shareholder backing from shareholders other than Anavio, could the latter be effectively queezed out? It is almost sanctimonious when Anavio harp on about having no shares where in reality believing that they have the 'Sword of Damocles' above COPL in their view. But have they? What's the point of continuing to try and do business with these people? How can COPL rid themselves?
It looks like full conversion by Anavio would give them about 90% of the issued shares so that they may not be bothered to lend COPL anymore money even if we wanted it from them given what has happened in 2023. A full-on confrontation with Anavio prior to being diluted to oblivion seems attractive. PIs still have clout as of now if they can unite. Given the choice, most here probably prefer the SL rather than Anavio. Speed is of the essence.
Many thanks Illusion. Do you happen to have the monthly gas figures for 2023 please? The reason for my request is to eliminate the chances of 'wordplay' by Mr Cowan on the 15th when he referred to ' since the third quarter of 2023'. He could have said 'the end of the third quarter' but didn't.
On the one hand we seem to have the SL and the scope for them to seize collateral. On the other we have Anavio who could convert all their bonds at this low price, dilute us to oblivion and seek to take control of COPL's assets that way. Where do shareholders stand here and the Directors doing their duty? We need the production guidance. What are the current shareholdings of directors and senior management? Would they be severely hurt by a huge dilution?
Cheers Pilot. The combination of Messrs Cowan and Gupta has potential to be a strong one for folk like us. If you recall, I said the other day that directors of listed companies like this are wise to say the absolute minimum save risking making unlawful disclosures that could cost them dear. We know all about the latter at the moment don't we? :-)
Good morning Pilot,
You could be right, you could be wrong. Do you accept that what you say is an opinion rather than a fact at this point in time? You have a right to your opinion of course but, as investors, we do not know what Nov production was, how the GGS is doing and what 2024 production guidance is. We also do not know what is going on behind the scenes amongst the various parties. An RNS from the company covering production, etc would bring much clarity either way.
The November production summary and 2024 forward guidance are so important as they always have been. Where are those figures COPL? Also, is there scope for the SL to know about these figures? It's all been about production for ages. Also, the current situation is awful for most shareholders. Mr Millholland has around 180 million shares doesn't he? If so, he'll be pretty glum now won't he?
Ask any Board Member of a listed business in this situation - due to all the aspects of what is likely to be going on in the background, it is best to say as little as possible. Certain matters are required to be reported but other than those, say nothing more. This significantly reduces the scope to make a grave error such as inadvertently releasing market sensitive information. We don't know who walked away from the JV talks. If the GGS is working as intended, COPL could be looking good as a go it alone producer at BFSU. The contents of the production update and forward guidance 2024 are key. COPL are not late in issuing the latter.
The CPR reports relating to Hurricane Energy contained very similar disclaimers. Those are public records so one may check them should one wish to. Hurricane was subsequently sold to Prax. The CPR was based and relied upon data provided by Hurricane. This was clearly stated.
I am waiting for the 15th (likely update) and the end of 2023 for the 2024 forward guidance (as advised). Those are the next reference points as far as I am concerned. Personally, I've not forgotten that AM has over 180 million COPL shares. His quick action to secure CUDA and what it owned caught my attention. It may have caught the attention of the JV partner too.
What silence is that exactly? The Company has said that 2024 forward guidance will be provided by the end of 2023 and it normally reports on production on the 15th of the month. It's 12 December 2023. The Company has an oil company to run. It is not in a contest to find a new game show host.