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Down today.
Over to you Kylie.take it away.
Afternoon all,
Is it tomorrow or Monday to bed an Isa ?
GLA D2k
Kylie don't come on blue days, Kylie only comes when it goes red to try and twist your melon.
Mornigh Kylie
Try again today to get me to part with my golden ticket you know you want to
You can have mine for 25p kylie
Kylie, now you are starting to sound like you are desperate and pleading. You can have my shares for 4p, bargain for ya.
everyone understands what's going on here right....? or does it need explaining for the 50th time?
gl sold you out. he entered a gobsmackingly ****e funding deal whereby the holder has approx £1.4m interest still owed to them, they sold out of the 30m a few days back @ 1p (where they took them with huge return of over 75%), and now over the next few days they will every day walk the market / close lower as they are again pricing in the next tranche and the lower the 5d avg price the more shares they get, the more dilution you suffer. this is a good old dulution disaster for you guys. wake up and smell the coffee. gl = jp. don't trust me, just for goodness sake, get half a brain and do a little research will ya...
Waiting for that morning that says make or break.
Kylie, quite a few are in profit here. Your head-working doesn't really cut it with these folk ;-)
Applicable to most LTHs here I'd have thought. Not me. Yet again, I'm just posting fact and logical argument, you lot are knees deep in hope, pot and desperation by the sounds of it. Unfortunately GL is about to sell you down the river for the 10th time I suspect. His new 'better communication with shareholders' approach is really not working too well is it.
Its some body who is emotionally depressed and a possible psychotic.
Absolutely spot on KTF ,Its 08:00 and I'm on watch in the Sea of the North so that's my excuse but yes, to arise at this time of the day and the first thing he does is write something disparaging about something he says has no investment in indicates to me to be a very shallow mentally challenged confused individual and very sad and lonely as well.He will no doubt enjoy that someone is writing about him ( me) as that's his goal,his aim in such that there is life outside his bedroom.
Unbelievable really that someone can be this desperate for attention
as with your 3633 other posts ktf, nothing of substance again, no objective challenge to the points raised, just playground bullyboy bs. what a tool you are. what sort of twisted individual posts 3634 times on a company bb and calls every single one of them wrong? the first person in history to have started investing 5000% or more higher than the current sp and bought all the way down, yet still be in profit. either warren buffet could learn a thing or two from you or you're talking utter ****e as usual - i wonder which it is.
"something smells very very wrong here "
sure does kylie, and it's you!
what sort of twisted and obsessed individual gets out of bed and thinks I know, I'll go spend ten minutes before 7:30 in the morning to write negative BS about a company I have no interest in?
one thing that is crystal clear, the moroccans can’t possibly want sou and in its current form to proceed with phase 1 or 2. just look at the timelines and rnss since 2019. there’s no way a country and its bureaucracy can be so inefficient and financially naive as to take this long to green flag all the necessary elements of a supposedly nationally important energy infrastructure project. i call bs on this not for the first time. listen to the february gl video again objectively, there’s no way phase 1 gas comes before q2 2025 now, just listen. he did all he could to warn shs about massive incomprehensible issues with phase 1 procurement timelines, esp the lng tank.
even more critical than zero revenue for another 12 months, the lack of funding. no money. no progress. bs videos promising the world (for sou anyway) and delivering you nothing. i’m convinced there’s a large and brutal funding round in the background. a 27m trade was hidden on thursday afternoon, just 2hrs before an after hours sneaky dilution rns. don’t you get it? people don’t change. gl is just like jp, untrustworthy, out of his depth and quite frankly incompetent in my view. the assets that underly the minimal sh value left here will first be watered down a further 20-25% minimum soon in my view (reducing the spa target to sub 2p in the most optimistic scenario) and then the company will be forced to fail by this phase 2 round ‘failing’ to the advantage of onyhm or some other locally backed organisation. what have the moroccans ever done for you….? something smells very very wrong here again, and when that’s the case with sou, it always always turns out to be a ****show, history demonstrates that.
There is no "last 250k". That's the principal amount remaining on the convertible notes, everything else has been converted to shares. The money itself was paid to SOU in Jun 2023 and is presumably long since burned through. SOU themselves said that £4m would get them through to the end of 2023, and in the end they only received £2.5m. So they should have had a major deficit in working capital in 2023, never mind Q1 2024 which is now over. The SP Angel flash note suggests that SOU have reduced the burn rate to £3m/yr so they have probably stretched the convertible note money out a bit. I can only imagine they are now in serious difficulty for funds and are scrabbling around looking for the next source to tide them over. Let's hope it's less dilutive than the last one. Also, the Afriquia loan can only be drawn down for actual work on Phase 1, not for ongoing working capital.
It's anyone's guess what the hold-up with Calvalley is. For something that was supposed to be substantially done in 45 days from last June, it's inexplicable. Also, the SP Angel note says that first gas has slipped from H1 to H2 2024. All part of GL's creeping deadlines -- first gas was never "H1 2024", it was supposed to be end of 2023, possibly slipping into this year. On the other hand, if we go back to the start of the Micro LNG project it was supposed to be first revenue in 2021 !!! That was according to Mohammed Seghiri, before GL joined. Good thing Mohammed pocketed 13 million shares for his efforts on Phase 1 FID before the project turned out to be more than three years late.
Spencer, your numbers are factually incorrect, even if we ignore the weird comment “have had the last 250k if it’s money to keep the lights on”
they haven’t had any last 250k!
I suggest you check the sp angel flash note of 19th Feb this year
https://www.soundenergyplc.com/media/tvbh5z2x/sou-2024-02-19-flash-note.pdf
quote
“Sound has about $6m left to draw on the $18m Afriquia Gaz facility that is funding the
Phase 1 development and has also reduced the monthly cash burn rate to £0.25m
ahead of closing the Calvalley deal, which should deliver back-costs that bolster its
working capital position. Attijariwafa Bank has completed the legal and technical due
diligence and has made a conditioned MAD2.365bn (~$235m) offer for Phase 2 senior
debt financing, subject to certain conditions being met such as gas sales agreement
amendments, project development contracts and Government approvals.”
Cheers KTF...if the agreement is signed off I honestly believe it will set us off on the road to recovery...slowly at first but they need to get it across the line soon....
Agreed it's taking a very long time.
It’s worth noting that GL said in the last presentation that all due diligence was done and they were on final documentation.
Can’t understand why that would take so long, but I do believe we are close.
Of course, what close means is anyone’s guess.
This is taking some time now and far longer than anyone anticipated ( including even the the most optimistic of shareholders). "How long does Due Diligence take and how much do they want?"... Calvalley agreed to enter into this deal in June 2023. They would have obviously done a fair amount of research, held meetings with various agencies, partners,stakeholders etc before even giving that agreement the nod. They must have seen/knew something that encouraged them to make the offer in the first place. If the authorities are so keen to market Morocco`s gas and get it into their infrastructure etc why havent they been fast tracking the GSA , licences , etc as its in their own National Interests to get this off the ground. ASAP . I've been in for almost 7 years and bought in the highs and lows . I still have to have faith it will be delivered but am hoping that this process isn't being deliberately walked down for a really low offer takeover being tabled when their is no money left at Sound Energy . If it carries on as it is much longer Id rather they look at pulling out of the deal and seek other options . It might take longer but Im sure GL said in previous presentations there are other ways to fund monetisation. I just hope we`re not going to get shafted at the last hurdle. GLA and keep the faith
It's not a huge amount of money to find in the grand scheme of things. The plant is progressing, so potential lenders could easily be assured.
Well they have had the last 250k if it’s money to keep the lights on we have about six weeks left based on old burn down calculations or if it money for final bits for the plant. As I have said before I do not think calvery will sign a thing until the micro plants is pumping and most research I have says it’s 18 to 24 months for a plant to do this I see no income till after June probably November time
No problem. We kiss and move on.
Good luck to all true investors in soundenery.may it all comes good for all of us and our families
Adam2911, I'm not angry one little bit with you or my own life, I was being sarcastic.
Peace on you brother or sister :-)
Smudger are you angry with your own life.
You're not angry towards me because we don't know each other.
Psychology..person who reverts to abusing and angry are really angry at their own life.
Me .I dont care.my investment my call.having banter whilst the mighty soundenergy gets to the promised land.please don't tell me you invested because of people on this bb.if you did.then I feel sorry for you.alway do your own research..