Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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STD123: "this is what PS does. Attacks any poster that hints at positivity due to her selling up at the wrong time ... sold out at the worst time before the recent rise and then went on to make another huge mistake by investing in PVR which weeks later is now worth half what she paid."
Both transactions occurred 15 March (months, not weeks ago). Anyone can check for themselves the share price for SOU and PVR on those dates versus today. Neither has moved substantially. STD123 is lying for reasons known only to himself. On the other hand, anyone can also check STD123's post of 15 Apr 2021 18:31:
"PS I have not said the price is going to the moon but have said 4-6 p I would expect in the next 3 months which is far more likely than your prediction of 3 years. I am so confident this will be achieved that I resisted taking a profit above my break even point of 3p. You are correct I did buy on the hype but unlike you, I will now make a profit. I will never understand why you did not keep the faith in Graham and the board and you should be glad for those who did but some of your comments this week can only point to the bitterness of missing out due to poor decision making on your part."
One month still to run on STD123's prediction of 6p. Will it happen? No, it won't -- and that's because of the fundamentals which I have challenged STD123 to discuss instead of whinging like a spoiled child. If anyone finds this tiresome, rest assured so do I. On the other hand, as often as STD123 trots out the same cheap lies over and over, I will be compelled to knock them down. It would be much preferable if STD123 provided some justification for why his valuation is so different from that of SOU's own corporate broker.
Daveyboy this is what PS does. Attacks any poster that hints at positivity due to her selling up at the wrong time and now haunts this board in bitterness. She produces paragraph after paragraph of previous RNS in a bid to con you she knows more than anyone else and is the superior being yet the reality is that it's a pointless exercise unless you can actually read and interpret all what you have churned out. This is why she is really clueless and sold out at the worst time before the recent rise and then went on to make another huge mistake by investing in PVR which weeks later is now worth half what she paid. As I've said previously it's a case of all fur coat and no nickers.
db71, believe me I digested the video in detail. To quote Graham: "What we've noticed in the last few months is that we've got a different type of potential co-venturer approaching us to look at the development. They particularly liked Phase 2, the bigger project, the pipeline project, the CPF and the gas to power project that we're looking at putting together for Phase 2. So yes, I think the opportunity to do that is always there, but we don't need another partner at this stage to go forward with Phase 1".
With respect, that's hand-wavey blather. He "noticed" that there was a different type of partner approaching SOU? Gimme a break. He is not talking to anyone at any substantive level about Phase 2. Obviously he has plenty of other things on his plate for now. But eventually SOU needs a partner and an *awful* lot of money to get to the point where it is worth anything at all.
tom111: "Why keep knocking it absolutely no point imo".
I am not knocking SOU. Just stating home truths. Perfectly happy to be challenged on every single thing I say. If I'm wrong I welcome correction. I have still heard nothing to suggest that SOU is going to be worth more than zero in the next 2-3 years even if everything works out ... and there's a non-negligible chance that it won't.
PS, Graham alluded to another partner for phase 2, I suggest you watch the video again, it's only 7 minutes long and fully digest what is being said.
PS you seem bitter with this co.Why keep knocking it absolutely no point imo
The tax situation re rns will go on for a year to be dealt with,then if need be to arbitration so a long time ahead imo
That Graham Lyon interview was slightly incredible on several fronts:
a) not a single mention of the biggest elephant in the room, the tax bill.
b) conveniently skipped over Schlumberger as a funding partner for Phase 2. SP Angel have also conveniently omitted SOU's expected debt position at Phase 2 from their latest valuation. They're not even telling us how much debt SOU now needs to raise, but it is safe to assume it's $120m+.
c) vaguely handwaved at potential interest in Phase 2. Reading between the not-so-subtle lines: there is nothing substantive happening on Phase 2.
d) Mentions a drilling program planned for October 2022. No mention of the fact that SOU doesn't have a brass farthing for drilling, nor will it have on foot of Phase 1 revenue which is all committed to paying off debt (which is why, as people seem to constantly ignore, SOU is worth LESS THAN NOTHING until Phase 2 is signed, sealed and delivered).
e) Mentions the closing of the Afriquia Gaz and Italfluid contracts as a conditional, not a guarantee. What's holding it up? (We all know it's the unmentionable tax bill, but why is Graham is being so coy?).
The Schlum deal is a diversion. 75% of nothing is still nothing. Graham needs to get his a$$ is gear on what really matters.
Great video ducati, thanks. I particularly like the bit at the end where they have a drill on standby, and were planning to drill anoual later this year but covid has put it back. More exploration is not too far away and Graham is exactly what this company needed.
Thanks Ducati2, more promising and GL certainly has a more open and honest approach, so had a little top up this morning. GLA