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Littlened . Are you sure your not a Tory politician. Bad comms from a bad management from misleading info to not really giving a monkey about shareholders . They will be communicating with aleph on their bonus for selling remaining assets for 5p. Does matter about previous offer or if anyone on this board won’t accept as they don’t care. Again, I hope I’m wrong for you guys.
I have tried but they don’t give anything away.In their words they can’t as nothing material has changed.
Bad news for our neighbours PRD, testing didnt go well.
Sdx remain the only gas producer in morocco with its own infrastructure.
Just the management need to get finger out and dispose the egyptian asset.
Anyone got feedback from company?
I have never got a response from sdx.
We need to know what production figures are and whats happening..
If we don’t get an update this week I’ll be writing to the CEO - nearly 2 months delayed this sale
Https://www.rt.com/africa/592558-egypt-dedollarization-trade-brics/
They also stated when the moroccan gas well will come online they will inform mkt.
We should be hearing something soon. SD was largely agreed back in jan as per rns.
Lets see...
We've been here before, they will not have enough equity to force that....
Unfortunately they have to wait for various sign offs and authorisations from the Egyptian govt - outside of their control. Last time they gave an update a couple of weeks after their stated date and I expect the same ie some comment from the company in the next week if there is some delay detailing the situation or better the finalisation of both sales and an update on the latest drill
Enjoy the silence. I thought the deal was to be done by the end of year or jan. What year exactly are they talking about. What a joke. If I ran my business like this I would not have a business to run. Here comes aleph with a 5p takeover now. Deal or no deal.
yes better to be a big fish in a small pond, extend pipeline to spain, optimise drilling , expand use of existing pipeline, long term contracts with offtakers for the core.
then the plan is to plug solar into the network - morocco is hot hot hot and sp****ly populated so if they can build an infrasture and pass that to industry (and maybe to europe in time happy days but that is a 10-20 year project.
mgt reward is aligned with shareholders so that is good but while i understand approvals are out of their control i'd like to see some reassuring comments when deadlines are missed - we were meant to complete by end of year then end of jan - mid feb now and no news
I'm with Ben, Morocco or bust... or return some of the incoming cash to investors if they really don't know what to do with it ;-)
Smelly Ben, You say, "do what they say in their strategy", I cannot see any specifics in those slides [presumably you are looking at the same ones]. All I see is blah, blah about ESG etc and leveraging current customers by cross-selling solar panels to them!
That’s interesting- my own preference would be the opposite as most mergers and acquisitions fail due to complexity, dilution of management focus on the integration of people and systems - I’d rather they do as they say in their strategy and focus on Morocco, and use their current infrastructure ( expand as necessary ) to grow there - we need to sweat our assets and benefit from economies of scale so any foreign expansion would make me doubt they have thought through the strategy and I’d be gone but each to their own.
Be good to get an update this week though on the sale
Only in a very general sense have they said what they'll do... Ben. I would like to see some M&A activity to diversify risk and region. JSE have done this well.
They have already said whet they will do with the money from the Egypt sales - pay off the debt and invest in the Morocco infrastructure.
Got enough SDX for the moment.
I order to buy more I would want to see more details about what they intend to do with any money they get and assurances of no further punitive dilutions. Aelph choosing not to take their stake in equity would be a good starter.
Its good to see that all on this bb are agreeing that SDX is grossly undervalued .I hope you are all buying !
Of course on the books it valued more but i believe this is the target sdx will be looking at, by tellling us they agreed $6.8m for WG it makes sense.
So literally around £16m which is double the mkt cap and then sdx also keeps moroccan asset. The pipeline in morocco has some value. Its feeding the industrial town of kenitra. The board just need to get their finger out..
I see, so you're suggesting, 13.2 million = 10.5 GBP
I would agree.
Legache
6.8m for west gharib, south disouq and receivables worth more...
$20m roughly..
Well if egypt have them a license on 26 sept 2023, i dont think there is an issue. Also they are part of BRICS.
Maestro, you're all over the place with your guesses, it was 10 million last week!
If thats the case, does anyone know what the Egyptian Gov position is on doing business with the ruskies?
It largely make sense, i recall when Amc sold their assets in Russia it took ages to get cash out due to sanctions.
Nevertheless, i see egyptian asset going and it looks likely we will get in the region of $20m. Current mkt cap only 8m. Hold and be patient.