I will try to refrain from posting much on the COE forum wrt the takeover, as yes it has created negative thoughts and emotions for me.
COE's cash and reserves do make it very cheap, however I fear it has allowed it's ambitions to run ahead of it's execution capability.
I am really not sure they have the management and operations experience to fill the void the takeover would create in technical and operations management in Turkey. As individuals and as a company I really do not see the depth of experience and expertise that the IPM team appear to have - teams are very easily destroyed, but not rebuild easily or quickly.
I would have preferred see COE management develop and demonstrate it's capability to manage it's already diverse and widely dispersed operations. To date it's best successes have been as an investor in non-operated permits. You wouldn't give it 5 stars for the PEL100 operations, nor for the Kurnia drill imho.
EL
COE Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
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