Ann: Presentation, page-3

Yup you are spot on. I think they'll be able to earn the first 20% but everything from there onwards will be a struggle.

To achieve everything they want to achieve in 2023, they'll need to spend like $4mil which includes the cash payment to increase ownership in some of the projects. Unless they decide to abandon one of them.

They are a $7mil company that can barely raise $1.5mil a year to do anything and there is no point continuing with drilling if the market isn't going to reward exploration success.

The company needs a serious cornerstone investor to give CPO another kick start. Do raises at premiums. Other options to raise capital etc.

Wouldn't be surprised if the MD resigns. There is no incentive for him to work here. He has no money to spend. Has no chance of hitting the performance option milestones. Appears to spend most his time with 'paid for videos' trying to promote the company which doesn't work. Complete waste of his time and currently he is a waste of money. Maybe a new MD that is willing to put $2mil of his own money into the company might be the answer?

CPO has great copper assets. Right up there with the best among the small caps on the ASX. But trading and valued like a shell.

A very sad stranded asset story.