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dudeathlon, have you lost your tongue? all mouth and no trousers chap, like quite a few others on this site. happy to ***** and moan about what some post on here but you’re just another empty vessel when it comes to the detail here. it’s a fact closely aligned with the all to obvious lack of any meaningful bullish buy side flow in the shares for many months now. not only is the an over head seller, and the cb seller, but also no strong high volume buying lifting offers at all. speaks to the true investor sentiment here, it’s rock bottom and ultimately what will kill off this company finally over the coming months. and that falls entirely at gl’s door, they’ve destroyed any confidence or trust by their lies and bs. have a nice weekend.
Sound Energy 6.25% up and Bitcoin 2.77% up.
SOUND IS NEXT : BUY BUY BUY
I posted that in the true spirit of Sou, in other words I’m off on my timeline. It will happen.
Answer me this. Where is the money coming from for the fundraise needed by 70 days time? (Just in case you’re as ill informed as some others on here, the company themselves stated they’re funded only to end 2023). Simple question. How much they gonna raise and how? You’ll see what I’m talking about.
Kylie, what happened to your "that 40% off the share price. tomorrow." prediction?
Graham and Gary ...are taking this seriously, it’s not as easy as it looks.
I don’t want the Sound share price to rise to quick then it gives us more chance to invest more and more capital.
All the same a Sound BUY : BUY BUY BUY
Good afternoon Southmead, just waking getting going in this part of the world. Could you please list what specifically you found reassuring from the video released yesterday. Perhaps I missed something, or watched the wrong one even. Thanks in advance. I did list a few of the things I found extremely worrying in my posts yesterday, but perhaps I clicked on the wrong link.
Gl did not inspire confidence, so down beat like it was a chore. I think things will be fine eventually, but as ever, these time lines!!
"Graham and Gary ... could at least try and be a bit upbeat. Perhaps a smile."
Because they were delivering grim news? Not flashing their pearly whites was the least thing wrong with that presentation.
I must have been watching a different presentation. I found it quite disturbing. The Phase 2 timeline was not a surprise as I've been saying for a long time that best case was FID at end of 2024 and first revenue in 2027. I was surprised, if I'm reading it right, that they have to raise additional funding even beyond Calvalley. Be that as it may, the need to redo (or in their words, "refresh") the engineering design was a surprise. There was an implication that they need to revisit cost estimates. I would not be surprised to hear of some serious bumps in the road in that process. It's a very different world from 2018, and capital intensive projects the world over are having difficulty meeting previously contracted prices due to supply chain, inflation and interest rate issues.
But the bigger shock was Phase 1. They couldn't have been more vague if they had spoken with a hand over their face and muffled coughing throughout. But the project is quite obviously *MILES* behind schedule. Throwaway phrases like "commissioning through 2024" said it all. Also, half way down their list on the very last slide of the presentation: "Potential for significant revenue within next 18 months and beyond". Uh, what happened to early Q1 '24?
Apart from general running costs there are three bondholder payments due in the next 15 months. And when do the first Afriquia repayments come due? By the original schedule it was 2024 and would include deferred interest payments. SOU faces a significant funding gap next year if these delays are real. At current market cap an equity raise isn't a good option.
The most bewildering thing here is communication. Why does SOU always seem to leave it to the last minute to announce schedule delays and even then they are never straightforward about it? It makes it look like they don't know what they are doing. LNG trucks should have been rolling a few short months from now. All of a sudden it sounds like that's well over a year away.
I can understand why Ms Minogue got in so early yesterday and was busy last night with her negativity after the presentation was published, as all in all I found it to be on track as to my expectations.
A couple of concerns,
I know both Graham and Gary are no entertainers and would never make the cut for ‘Britains got talent’ but they could at least try and be a bit upbeat. Perhaps a smile.
At 16 minutes, I’m slightly concerned that Gary states, “ if we close the transaction with Calvalley” !!!! Shouldn’t that be ‘when we’?
Is closing the transaction an issue?
Understand there’s a lot of work going on in the background but think now a live question and answer session is due for investors.
Thank you Southmead the New Presentation is Excellent 👌
https://app.frame.io/reviews/f6b20b4a-df4a-46d7-bc2a-756dc9661245/61a86e21-0071-45f8-be8b-db11db32091a
Worth a careful review I would say, very reassuring.
https://app.frame.io/reviews/f6b20b4a-df4a-46d7-bc2a-756dc9661245/61a86e21-0071-45f8-be8b-db11db32091a
In the beginning of September
last year, during lockdown time, a small group of local miners discovered a new locality of gold in the Sahara mountains close to the city of Tan-Tan in the far southwestern part of Morocco. The new find is a big surprise and indeed very significant.
Significant because Gas or Gold is a discovery worth the weight.
GAS IS GOLD AND IS SOUND ; BUY BUY BUY
Went crazy last night.
a stream of posts from 5:30 to 03:30, tell me that's the actions of a rational person!
off work for a week after today and I think I'll enjoy the break from this screen as much as the work ones.
have a good week people and don't waste your life obsessing about an investment (or not!).
K75, are you still invested here?
It’s simple, market sentiment has an enormous impact on sp and ultimately whether a company can raise capital, pay bills, get deals done and survive. They’re all connected.
Sentiment is dependent upon confidence in management. Put really simply, do they do what they say they’ll do? Is there consistency? Can you trust what they say and tell you, because if not, then there’s nothing at all other than someone telling you a story with no basis at all.
The fact is there’s been such a massive, blatant and repeated history of utter bs from GL and GD, inconsistent messages and timelines over short periods of time, that the only sane conclusion is they simply lie. They’re unable to tell the truth. There’s no way for example things have suddenly got so much worse since 21 September, but they clearly have. You have to conclude you just can’t trust a word they say. Ever extending timelines will lead to this company failing, of that I’m sure. The project might get concluded, but not by Sound and not to benefit its shareholders, that’s for sure.
Longer timelines = more dilution = much lower share price (it’s a viscous cycle now as sp / mcap is so low now, any raise via equity dilution as it would mean vast watering down of existing SHs)
The content of the presentation published last night combined with the underhand chicken shot way they did it (not facing up to its investors) is the last straw I feel. There’s only so many times people are willing to be mugged off, as it’s deeply personal I’d think.
GL = JP. They’re no different. Unable to be consistent, tell the truth, give investors any confidence at all. It’s always tomorrow, next month or next year. The FID has been talked about for 4-5yrs now, and yet again massive delays admitted last night with no certainty.
It’s not all bad news. GL and co will continue to get paid for the moment, they’ll continue to not invest a penny nor have any real skin in the game here, huge red flags for any investor.
Share holder value and company are not the same thing. It’s clear to me GL has prioritised all other internal and external stakeholders over equity SHs here. No wonder the CB is selling, they’ve realised it too.
My expectation is GL to resign in the next 4 months, and Sou to cease trading on grounds of insolvency. There’s no money in 2.5 months by their own admission and a market that’s clearly unwilling to be continually mugged off again and again by this lot. Sorry to say it but Sou is finished.
If I was pescado he’s in his element now at these prices and ktf will do well to pile in and reassess his average sp and every other cheeky top up merchant GLA
What a great presentation and we are lucky to have Gary in our board. The way the company is now being managed is setting us up for success longer term. The gas is there, but having the infrastructure and finance in place is key. If we can get the Phase 2 development FID over the line, I really believe that this company will grow significantly.
I don’t think so ktf, if you’ve listened to the presentation this evening and honestly think that with your investment track record, that just says it all. I’m sorry, but you’ve been done.
unbelievably chicken **** of them not to front up to investors. no ability to challenge, or question or query wtf is going on or upcoming fund raise. this is a huge hammer blow. by their own admission there is no money beyond december 2023, so massive dilution coming and no phase 1 revenues until over 12 months
Just comparing the new delayed timelines and cash flows with the current assumptions in the sp angel model, for both phase 1 and 2. They’ll need to completely rework with a huge impact on sp, from that but also necessary mid term funding / dilution…..this is what so many have been saying, and it’s come to pass…..
Is it reasonable to put gross not net revenues (to Sound) on a Sou presentation? Typical AIM bs, $120m revenues on slides, when we all know it’s much smaller due to Sou having farmed out 65% of the licence now….what a bunch of second hand car salesmen. Only ktf would fall for this carp surely????
Slipped deadlines all over the place. I can’t believe how they’ve done this away from shareholders. Just dropped a bomb on the existing SHs. There’s so much dilution coming due to these delays, 0.4p by Christmas is my prediction.
Listen, there’s a number of posters to whom this will be of zero surprise, but they’re not even building the lng tank until q1 2024 now, another slipped deadline. My estimate of first revenues phase 1 until 2025 is looking sound (pardon the pun). But surely a few must be increasingly miffed with the constant bs from this lot?
It could not be clearer, anyone hoping for any material news anytime soon is a lunatic. All the red flags on the last call have just been laid bare. No debt financing not until 2024, then 24 months to revenues. So no revenue until 2027 earliest. I’m wondering how many of us will still be alive and kicking in 2027, I’m not getting any younger……