Member Info for rossannan

iamrich

“doesnt look like this injunction will be taken seriously”

In what sense? The threat of the injunction being taken seriously by the market or the application being taken seriously by the court should it in fact materialise?

Lottohopes

You could be right but I am a stale bull and knocked this on the head at 5p today. The financials are complex both at the Minto and the PERE level (and we are not getting all the information we might want). But if copper goes up enough this could bag and bag, regardless. Good luck all.

Lancygeo

An operational update which saw PRD finish down on the day.

See my colleague LayLadyLay’s earlier post, in which he takes a closer look at the figures, and for which our MM paymasters will undoubtedly reward him with a bonus.

The ex-CERP assets are still more about spin than substance.

JohnBriggs

Look at it this way - the later they leave it, the more it will look to the court like a political stunt and the more likely it is to be given short shrift. In the meantime we just have to put up with the dark cloud.

“what Koots did in the past is irrelevant”

Not when he’s on the BPC BoD...

Tiburn

In that case, why is none of this reflected in the share price? Because the market dismisses such arguments even more readily than me. Taking everything that a company says as gospel is a recipe for disaster. Look, for example, at how Leo Koot’s claims about the SWP failed to stand up even to BPC’s scrutiny.

offerman

“A considerable mark down on the figures previously given by Leo.

So they may be very Conservative on that as well.”

Another possibility was that the figures previously given by Leo when in share promotion mode just didn’t stand up to scrutiny...

Tiburn

“This is as hedged an investment as you could realistically expect for this sector on AIM.”

Are you kidding?

Maneater

“This share is a bargepole job no doubt about it.”

Not what my post says though. Read it again. This share is only a barge pole job if you believe that any injunction application that does materialise is more likely than not to succeed.

https://www.barbadosadvocate.com/columns/view-europe-protest-climate-change-and-environment

Rp11ace

“I have full confidence that this injunction will be swept aside”

Your confidence may not be misplaced, but there are two sets of odds that we need to consider here: the odds against an injunction application being made and the odds against a successful injunction application.

It is tempting to imagine that, because the odds against a successful injunction application are long, the odds against an injunction application being made in the first place are just as long. That, of course, would be a mistake.

As I said the other day, the making of an injunction application would be as much a political as a legal act. The chances of winning would not be the be all and end all. If such an application is made, this will be a “back to square one” (2p? 1.5p?) moment for the share price, at least until the court rules on it, even though I would anticipate a quick turnaround (by the court, not the IceMAX).

This is why I took the profit on the 19% of my BPC exposure that was in the form of spread bets. The longer odds against a successful injunction application are why I am holding on to my 1,680,000 BPC shares, while being very conscious that a successful injunction application would see the share price well and truly crater (demonstrating what the market really makes of the perennially hyped ex-CERP assets).

https://www.cruisin.me/cruise-ship-webcams/greenpeace/rainbow-warrior/

Moored facing the Rainbow Warrior? It certainly appears to be wearing lipstick?

TCGLOVER

Yes, at that point I was fully loaded with the equivalent of 2M shares (£3200pp and 1,680,000 shares). The spread bets have now gone, for the reasons I have given. I still have all the shares.

TCGLOVER

No, again, you said “2 weeks ago your bought 2 times 250.000 shares” but you must be thinking of the 2 x 125,000 BPC shares that I bought on 5th November. I have neither bought nor sold any BPC shares since 5th November. I did though take my spread bet profits on the back of the threatened injunction and my perception of the risk that this new development posed to the share price, at least in the short term. I think that was a reasonable call. The risk/reward of the pre-drill excitement trade no longer justifies leverage (if it ever did).

TCGLOVER

Absolutely, because I was, as best as anyone could in the midst of Leo Koot’s smoke and mirrors, monitoring the cash burn. It was clear that, as I kept pointing out, they would otherwise be drilling with no margin of safety, i.e. with, as I put it at the time, “fumes in the tank”. Yes, my prediction that Leo Koot would not be that reckless proved wrong, but that is hardly a lie.

Two consequences of this recklessness were (a) cash-strapped CERP’s merger with BPC and (b) LIND having to be squared away, which led to Trafalgar dumping c100m BPC shares in August causing the BPC share price to collapse from 3.2p to 2p. Thanks Leo. Have a seat on the BPC BoD anyway...

Next?

TCGLOVER

“funding saffron”

?

bynari

Manipulate the share price to what end? I haven’t bought any BPC shares lately. All I have done is taken the profit on my spread bets (about 20% of my BPC exposure) against the background of, as icemax pointed out, increased risk.

icemax

Spot on.

The Riceman / Findme

Where am I asking for an RNS? All I am trying to do is persuade the local rampers that the threatened injunction application might actually make it to court, bad enough news for the share price even if it is given short shrift when it gets there.