Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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James should have stuck it out in his position as CEO, faced the investors and ridden the storm. I'm unsure under what circumstances he left and it's not really something I wish to dwell on. Just believe that it would have been a more respectful conclusion for him had he not suddenly jumped ship. I realise the death threats probably swayed it for him, but I would have ignored the white noise and got on with the job in hand, which was to discover loads of gas and prove the doubters wrong. Yes, it may take more time, but there is gas in Tendrara and time will tell as to whether or not it will be found. GLA.
Bav, James is passing on the reins of power & is "focused on the deal & the handover". I don't know if James's resignation was a surprise to the Board but in amicable circumstances, it is not unreasonable to expect a 'changing of the guard'. James no doubt has to hand over his role & remains for a few months as adviser to the new 'King'. Why anyone gets hung up about that is beyond me as it really is just a matter of weeks before he finally leaves...when the 'Nominations Committee' vote Mohammed new CEO of Sound Energy.
14% for a successful case, no dilution and royalty for several years remember. Plus opportunity to sell/farm out Sidi Moktar for further special dividend...?
"this project will go ahead because it is too important not to"
oops, forgot to add-, and thanks to our brilliant CEO's 'deal making skills', we will have 14.4% of License area instead of 45%.
I had a dream... JP had left the company. Was not involved in the sale in any shape or form... Just in case... And was no involved as a consultant. Then I woke up.
SBK was revised and from memory, they estimated it is now 600-800bcf.
If anything Tendrara is plan B...
"Which is why they're building a $4.5bn LNG terminal to import all the gas they need..."
That's Plan B...... finding their own, Plan A
Better to wait to see how many buckets of gas they find before they plan for contingencies then?
Which is why they're building a $4.5bn LNG terminal to import all the gas they need...
That’s why there is an urgent need to also find additional hydrocarbons. Morocco’s aim is to have circa 50% renewable energy sources by 2030, which means still a huge dependancy on gas. They either import LNG and more Algerian gas, or they provide every conceivable support to find more gas in Morocco.
We're not talking globally though whos, we're talking about Morocco. The whole point is it is very material to them. We are yet to find out about the deal and exploration, but hopefully if we get to drill (as has been suggested by Sound), it will concentrate on lower risk targets (SBK) first that could uplift our reserves significantly.
TE-5 was discovered 13 years ago, and it's a tiny gas field in the big scheme of things. It's really not important. Neptune just developed a field delivering 450mmscf/d in Algeria.
I think you massively overestimate how material a sub-1tcf gas field is.
"this project will go ahead because it is too important not to"
nail on the head here crude.
Trellis, I think you are doing a great job but you may be on a hiding to nothing. You cannot please all or represent everyone but well done for trying. I haven't signed up because I am looking to the future now & past recriminations will not, imo, serve shareholders.
What we now need is for the new, evolving board to get the job done & only in that way can shareholders ultimately hope to be compensated for their belief in the project. We have a majority Moroccan shareholding with Mohammed Seghiri as new CEO & an exciting acreage that the moroccans are desperate to succeed...this project will go ahead because it is too important not to!
WTF KTF, that doesn't help.
I personally feel communications or further action should wait until we see more details of the deal & what the plan is with Sidi.
Double digets when we produce. 2023/24. We are not drilling next year..... no way!
Trellis.... let it go. I don’t think you’re helping matters. Yes we’d all like to know what’s going on but we’ll have to wait and see. Copying in the FCA is a mistake. Retire now with dignity before you’re pushed ;)
Jones1980, are you an investor in SOU?
Doesn’t have to get to 11p, so discounted at this level 6p is a bagger. Personally I think will go back to double digits in the longer term.
Deal is not 100% but happily there are many interested parties and again, assets look very cheap at this MCap so difficult to see much lower
oops, typo obviously your not you're
but then again as someone posted, I'm dumb :)
I remember some self professed smart bears saying the same thing at 11p.
'If you’re realistic we won’t drill until the deal is done and preparations are made. Past experience has proven things don’t happen over night (months) so it’s a 2020 drilling plan, 2021 bit hits the dirt. If it’s any earlier, bonus, but just can’t see it'
I would normally agree with you given past experience. However the 9% is a one year option. If the Buyers signs on the dotted line, I expect to be drilling asap. 2021 would be pointless if they want maximum return.
JP has run off and many people gave him the door to bolt through. Personally I think the ****ging is definetly justified but I don’t think it helps matters. A disgruntled JP in the background getting loads of flack might not work on the best deal moving forward. Just suck it up, let him finish the deal and let him move on. The sands will give us what we want in the end, we just need a good deal, one that offers stability and reassures long term, big investors that it’s just a matter of time before we see an upward movement in the SP. not going anywhere, not going bust..... just not having a 2019 party. Hang on a few years and we’ll all see a return.