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Canadian Overseas: board changes leave value destroyer king Arthur Millholland unchecked & still massively cash burning

By Tom Winnifrith | Tuesday 20 June 2023


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Normally the market reacts positively to news that a company is firing staff and cutting back on costs. But sometimes folks see that this is a smokescreen, it is like chucking a few deckchairs overboard on a stricken liner. It makes no odds in the bigger picture and it can create new risks. That brings me to Canadian Overseas Petroleum Limited (COPL) a share that is heading to zero.
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