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No buy or sale so far...
Earlier post got truncated. I was pointing out that GL is talking about no more dilution while failing to note that there's potentially hundreds of millions of new shares already baked in from last year's loan note. And while he says that he "hopes to be closing on Phase 2 before having to go back to SH for more money", I take that to mean as soon as he gets a lift in SP from closing Phase 2 he'll do a raise. It is the tried and tested SOU approach after all.
Apart from the cringe factor due to lack of progress, there was also actual BAD news: definitely no hope of LNG tank completion before “early 2025”. Remember, “early next year” for SOU has always without fail turned out to mean “we have absolutely no firkin’ clue”. And the alternative temporary storage is now “only if economic”. So I’m going to predict here and now: first Phase 1 revenue not before H2 2025. Call me on it when I’m wrong.
Phase 2 FID clearly going backward as well. How many times have we heard about the FEED having to be redone? Should probably save the hassle and wait till everything else is in place and then figure out what the hell year it is for the FEED price update. My prediction for Phase 2 revenue: definitely not before 2028.
And finally this absolute howler:
“As we deliver on our work (slower than I want) but as we start delivering on all of these activities that the market will start picking up and recognising that we’re not far from production, we’re not far from sales, we’re closing a large transaction to fully fund us for our project. So I think hopefully the market will start rewarding us.”
So would he at least agree that the market is punishing him for an absolutely catastrophic delivery record so far?
That entire video could have been summarised as: "ABSOLUTELY NOTHING NEW TO REPORT (except Graham's new moustache and a few bits of bad news slipped in surreptitiously)".
Really, GL should proof-read his answers and weed out those in the "pathetic excuse" category. Easter happened? Who'd have guessed it, we never saw that one coming. Also, blaming the wind sock? A quick google against JUST www.moroccoworldnews.com:
11 Aug 2023 — Morocco's tourism hub Marrakech was hit yesterday by a sandstorm that plunged the city into chaos.
19 Oct 2023 — Strong wind with local dust storms of 80 to 100 kilometers per hour are expected
20 Oct 2023 — Morocco's weather office forecasts more dust storms will hit several provinces across Morocco
23 Oct 2023 — Morocco’s Highway Company Asks Citizens Not To Travel Amid Stormy Weather
1 Nov 2023 — Moroccan Drivers Warned of New Dust Storms in Coming Days
15 Dec 2023 — Morocco's Ministry of Equipment urged road and highway users on Monday to exercise caution and vigilance due to strong gusts of wind and sandstorms (for 3 days)
23 Jan 2024 — Morocco's Ministry of Equipment has warned road and highway users to exercise caution and vigilance due to strong gusts of winds and sandstorms
07 Feb 2024 — Strong winds, thunderstorms and snowfall to hit several provinces
09 Feb 2024 — Strong Windstorm Causes Flight Disruptions Across Morocco
22 Feb 2024 — The Moroccan General Directorate of Meteorology announced today the likelihood of strong winds accompanied by dust storms
02 Mar 2024 — Several provinces in Morocco are expected to see strong wind and dust storms
22 Mar 2024 — A new weather alert indicates that strong gusts of wind with dust storms ranging between 75 to 90 kilometers are expected to continue until Sunday
24 Mar 2024 — Morocco is set to see strong thunderstorms accompanied by hail and powerful winds, along with dust blowing on Sunday
08 Apr 2024 — Low or absent visibility caused by strong gusts of wind and dust storms expected this week in several provinces across Morocco.
We're not talking about freak events here. The dusty Moroccan winds from the Sahara are a regular feature, they even have a name: the sharqī (chergui). Regular events are things you plan for, not make excuses for. And for god sake stop telling us "it's not going as fast as I'd like", it makes you sound like a helpless victim. Ever heard of the concept of "the buck stops here"?
No new update whatsoever on the deal or finances. No explanation for how things run entire quarters (and even years) over time budget. Are you completely unable to learn from past experience? Lots of repeating of stuff we've heard already, but never addressing the question of WHAT IS THE CASH POSITION RIGHT NOW? It's clear there's no plan B if Calvalley doesn't come through but would be nice to know when that will cause serious trouble. Also, no plans for more dilution but fails to mention that there's hundreds of m
KTF - and by the way I’m not Kylie or PS . If you want a serious conversation about making money on this share can you tell us all how much money GL has earned since joining Sound - it’s public knowledge and you love transparency. How has the share price fared in the same period? How many options have been made to him and fellow directors? How many directors buys have been made ? Perhaps you could address each point tomorrow after no RNS is made about any deal being signed and yet another chat on a share chat website which means nothing and hears to the end of fasting FFS
But who benefits from kicking the can down the road ? Is it KTF pound cost averaging? Not sure he’s got to grips it doesn’t work if the SP doesn’t rise ! Or maybe the directors pay every single month? Answers on a postcard to SHs have been mugged.
Same old story of kicking the can down the road...
A as holder of 12 years, I have to agree. Phase 1 was supposed to give us early revenue to get the cash in before phase 2. 2025!??
And there was nothing there that gave me any hope that something positive would happen soon. I am not saying there is bad news, but these delays are beyond a joke now. I probably should sell and buy back in a few months, but won't.
Oh dear Kylie you do rather appear to have got your gold sparkly pants in a twist..from your posting it would seem your head really is spinning around if not ready to explode off !! Oh the irony 🙄 most shareholders have written off their investment and can shrug their shoulders at the situation and the one person who comes on here without a penny invested is throwing his/ her toys out of their pram because nobody will take her concerns about the company seriously ! Lol absolutely hilarious
Thanks for sharing. Interesting viewing. Hopefully these various projects/tasks start to complete soon.
Delays, delays and more delays. The amount of times the word “hopefully” is used in that interview is a familiar message for many years. I’ve been in Sound since 2011 now and what a s**t show it’s been. If it’s taking this long to get phase 1 completed imagine how long it’s going to take to get phase 2 over the line. If things don’t get going this year we will either be diluted beyond anything meaningful or bankrupt.
Yep, another balanced summary KTF .
(It's so evident to me that Graham is very frustrated with the delays)
As you state, and no doubt will have to state again to a few of the serial posters here, and as quoted from Graham.
"We will DELIVER on phase 2 before any need to go to shareholders for funding!"
"CLOSING a large transaction to FULLY fund us"
"This company is completely undervalued"
GLA - but more patience still required here before the party gets started :(
We will DELIVER on phase 2 before any need to gp to shareholders for funding!
Ktf - even GL hints at it, the broker SPA clearly stated it (numbers and words) - Phase 1 is financially pointless, but it would be a good bellweather as to how easy or not it is to do business in Morocco. In that sense it does not bode at all well does it? Nearly 1.5yrs lates starting and now looking like 18 months or more delayed at the end.
In short, nothing has changed, no bad news, no surprises and therefore no change in stance for me.
I am still positive, still waiting and hoping that progress will be made soon and there is something positive to announce.
Meanwhile it is reassuring to know that the company is adequately funded and that there is no immediate prospect of any required equity raise
So, let me get this straight
you previously said phase 1mLNG was pointless, but now you say that becausse it 'might' be delayed it means Sound is "a bloodbath of a company"
Make your mind up lad!
My reading of the tone and content of this presentation is frustration at how long things are taking but confirmation that things ARE hapening.
some quotes
company completely undervalued (from the horses mouth).
CLOSING a large transaction to FULLY fund us
We will DELIVER on phase 2 before any need to gp to shareholders for funding!
if we close the Calvalley deal soon we can drill Te4 with the rig that will arrive in Tendrara in May (not drill in May before some tw&t says it)
So, frustratingly slow in some areas, but this is a company that is delivering and will continue to do so.
Watch that blood pressure lad, you sound rather angry and stressed.
Oh dear, what did I say, no first gas until q1-q2 2025…..confirmed by sou now. FU all you ignorant aholes who have no idea. Also confirmed no FID in phase 2 best case until end 2024 says GL!!! That’s even worse than I thought. Feck me this is a bloodbath of a company.
Have a nice day soundboy you moron, and you ktf. I won’t hold on for an apology or admission of you being completely wrong.
Adam, have Cavaley submitted a bid for SOU or not yet? ;)
EID MUBARAK TO ALL.
Specially to our morrocco team.
On this blessed day may all our hopes and dreams come fruitful in soundenergy and our every day life.make Allah (God) keep us all happy and healthy and this includes the likes if kylie75 and few others.
Https://www.moroccoworldnews.com/2024/04/361948/morocco-to-cut-energy-ties-with-spain-build-regasification-and-pipelines
Now, Morocco is taking steps to establish its own energy infrastructure. On March 26, five Moroccan ministries signed the Sustainable Gas Infrastructure Development Program, which envisions the construction of three LNG regasification plants, storage tanks, and pipelines.
Some one has to counter attack kulie..lol
Great to hear the ever reliable SoundBoy has personally received a news leak. As another poster would say ... Buy, Buy, Buy.
Eid mubarak!
Mr.Wolfe is more likely to eat you up.
Keeptofacts..
What you're saying is that Kylie will eat me up.
Lol.help help.
Nearly time to crack open the Cork.news has leaked