RE: Great time to buy2 Dec 2022 16:57
Has anyone thought that an Rbl or JV won't happen.
Only in the October interviews (2 different ones) he was all smiles stating hopefully get done by end of October.
Mid November Rns.
"Progressing Debt Finance" - only still progressing. Still no Term Sheet. The banks are obviously not chucking money at Copl. Why? We have been in contact with 3 banks for a long while now. Months.
He mentioned preferred bank that they deal with day to day. So surely they have done due diligence on Copl etc. So shouldn't take so long.
Maybe the banks want a JV signed too to feel more secure.
JV - "Due Diligence and discussions continue with respect to a "possible" JV. The company will provide an update at the appropriate time.
Maybe the JV that approached us wants a large stake for peanuts knowing we need the equipment, funds, resources to actually get it all moving on a large scale.
Why aren't other companies approaching us?
OK we are now in December. If either an Rbl or JV was nailed on for example next week I think we would have a bit more interest from some that may have heard from the market whispers. 16 trades and a Sp in 13s feels like something is not right.
Well my average is just below 18 so supposedly I should count myself lucky. I'd rather it be 13 but there we go.
December generally a low liquidity month too when money also leaves the market which won't help.
TO - Art said in interview thinks value should be 50p but games being played as said liquid stock. Don't think any games played. 16 trades. Everyone blamed TW but he called it right at the time. Art currently hasn't delivered and needs a JV or RBL to get the Sp out this level. 100% rise gets us back in mid 20s!
52 week high is 39.875. Could someone come in and offer that. Likely turned down by shareholders. But with no JV or RBL even though billions of barrels what are we worth as all in ground.
Then would we need a placing from the market to try go it alone.