Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
RBM I agree. If BOD and Anavio have acted illegally, robbing shareholders of their investments, it needs to be brought to the attention of the relevant authorities. I will certainly complain but would need a little help. I would need to know who to complain to and a series of bullet points around which I can formulate my complaint. Sorry to be a pain but it would help me (and others I'm sure) to get across the main points of our argument. Thanks you.
Much as I hate to admit it, the outlook looks pretty grim. I will of course support any initiatives that come up to help but I am losing hope. AM, RG and the rest of the board need to be held to account but I have little faith in the authorities (UK or Canadian) that those responsible for this debacle will be punished. I now have to talk things through with my dear wife. A task I am not looking forward to. I guess I am in the same shoes as so many others feeling that I have let them down. There is no point selling now, I will hang on to what I have got in the vain hope that decisions being made will carry some sense of decency and honesty. Experience here would suggest that won't be the case. I just want to wish all those who have suffered at the hands of these despicable people as good a new year as you can have. All the very best.
They'll definitely be working on something to get this moving forward. What that will be and what it will mean for us pi's is anybody's guess. If there is a chance I will get more than I would by selling now then I will risk staying in. Like others, if it can be shown we have been misled, lied to or conned in any way, I want to be in for the kill. It's no real consolation but I would want to see jail time for those responsible.
Since this debacle of the last week or so has developed, I have been trying, in my own simple way, to work out how COPL can extricate itself (or be extricated). Yesterday Stas listed our assets and indicated a rough estimate of what those assets are worth. Their value may fluctuate but they are there and not going away. In my view there are two routes for COPL out of this. The first is to raise sufficient capital to service our debt repayments and get the gas needed to pressurise the well(s) in order to increase the output of the oil to the levels needed. If we can't do that then, as far as I can see, the only way forward is to sell assets. That could mean a part of the company or the whole lot. Whatever we would get for the company is clearly up for negotiation but it is certainly not nothing as some have implied. Getting nothing implies bankruptcy and our assets are clearly sufficient to kick that notion into touch. Some of the posters on here have a much better idea of what the possibilities are for COPL moving forward but I can't see how us pi's will be left with nothing at all. Many of us are in shock about what has happened and I for one would welcome a response from one of our more intelligent level headed posters as to the validity and sense of my thoughts, simple as they might be. Many thanks.
Of course I have no idea how this is going to play out but I don't see anyone just allowing this to wither on the vine. The simplest explanation is probably the correct one in my view. A power play seems to be going on and we are in the middle. Who will blink first? I don't buy all the conspiracy theories that some people are suggesting but who knows? We as humble pi's certainly don't. I am prepared to hold, and wait to see what unfolds. I have actually prayed (several times in fact) within the last 24 hours. I guess we will have to wait until after Christmas to see what the outcome is. Good luck to us all. It seems we will definitely need it.
There are long term holders who average 15, 20 and 30p per share who, I am sure, are a long way from getting excited about a rise back to 1.5p. They have been supporting this company for a very long time and need to be considered when comments are made. We are a very long way from reaching those levels. Good luck to all of us and lets hope in the fullness of time everyone gets at least all their money back!
Until we know why JV talks broke down, we have production figs for Nov (and maybe Dec) and a coherent plan for the company moving forward, all we can do is speculate. That is all we have done anyway for the last year or so because the comms have given us so little information. There have been excellent posters who have worked hard to get as much background as they can to pass on to the rest of us and I am grateful for their efforts. As usual we now have the doom mongers predicting catastrophe and others predicting riches. No-one has ever known for sure which way this will fall and after today we still don't (not for sure). This continues to be an extraordinary, stressful, uncomfortable and very difficult ride. One day we will be able to get off this 'bucking bronco' and either lick our wounds or celebrate a hard earned success. We have 3 choices (as always) -buy, sell or hold. I am going to hold as it would be sheer stupidity to sell now and lose the best part of 30 grand and I can't buy more. My confidence has taken a hit but the oil is still there and from the information we have been given regarding the equipment upgrades, production should be on an upward trajectory from now on. Only time will tell but it is about time the BOD come clean. Good luck to us all.
Agree Stas. Why folk engage with the trolls is completely beyond me. What a waste of time and effort trying to get one over on these idiots. For what?? Just ignore them......please!! News will come when it comes and hopefully it will be all that us investors are wanting. Good luck to all genuine COPL shareholders.
Blackstout, your latest post is very interesting. You have always made considered, knowledgeable posts in the past and I am wondering if this latest one is based simply on a belief you have, or is there evidence out there that would support your comments?
I have seen nothing in the latest RNS that causes me any concern. I have read it as progress being made on all fronts. Of course if it suits your agenda to take a negative stance and continue to try to trash the company and therefore implying it is reporting lies and falsehoods then this RNS is not going to stop you. Those of us who believe in the company and the impetus the new board are hopefully providing, are waiting (im)patiently for negotiations to be finalised. This story is far from over. I believe there is a huge amount to be discussed and agreed upon and this is all taking place in the background. We have a huge asset that is worth billions to the right buyer. All will be revealed in the fullness of time. I just wish I had more funds available. Good luck to all genuine investors.