Post by
swingtrader45 on Dec 03, 2023 2:57pm
Gambler's Ruin
According to the website there were 127,869,837 shares outstanding on October 19 and 5,244,284 shares issued on October 20 at $.15. The quote says $.07 giving Coppernicus a market valuation of $9,318,000 and still no money to drill.
(no Options issued so should be entertaining watching Ivan promote himself into more free shares on Twitter)
The reality is a minimal drill program will require 30 million to 40 million new shares. The harsher reality is they would still need to issue another 30 to 40 million shares on any hype for a follow up program. That takes it to over 200 million shares outstanding!
It's the same trap Tier One has been led into with too much dilution required for too little drill money. GLTA
Comment by
pennyflipping on Dec 04, 2023 10:36am
IB is beyond incompetent. I'm sure he'll give himself a bunch of free shares in due time. This idiot should have figured out how to get this listed a couple years ago when there would have been good volume. Getting it done now is probably the worst timing possible. Oh well, maybe his brainless groupies can help pump this garbage after it's tradable by Canadians.
Comment by
JustMoney34 on Dec 07, 2023 12:45pm
This post has been removed in accordance with Community Policy