Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Jez, I can understand punters who may want to see the deal signed & delivered. It reminds me of when I was buying & selling property...planning permission adds whole new strata of value to a project - without it the value is commensurate to its current worth...but once a plan is approved the value is instantly recognizable. Admittedly the planning takes time & effort - but boy is it worth it! I trully believe when our deal is signed our value will become apparent. Like house renovations, it is all in the paperwork...get that signed off & you can really start to build!
Festive cheer to you both - Jez & Simon. With all that sprout consumption at crimbo I do hope you have taken the wise precaution to install a 'Blow Out Preventer'!! You don't want any embarrassing 'kickbacks' whilst entertaining with festive fritters!
Simon, pay that mortgage off - I highly recommend it! When I walked into the bank having sold some Sound shares at 89p & paid off the mortgage I never felt so good in my life - outside of the bedroom! But it was a happy coincidence that my mortgage was due & the SP was high............that is why I will never change my car plates - P90 SOU!! But now the share price is low & our prospects are once again pretty good...I want more & I hope all LTH or beleaguered shareholders are able to take advantage of these low prices. I remember when sentiment was this low, just before James took the helm - now he is leaving Mohammed can once again breath life into this Company that JP did when Sound Oil & investors sorely needed it!
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.
Certainly brought a smile to my face Jez. Merry Christmas & a Happy New Year to you & your 'bro'. Good to hear you had a lovely holiday back in the old country. I once spent a very cordial couple of weeks in Pathos a few years back...lovely...though I wouldn't swap it for Sussex!
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!
Lossgain, certainly a first in all the years I have been here. I thought we had a pleasant moment of abstinance & self reflection...either that or punters reached their boredom freshold & could not be bothered to post!
John, no worries - as per your instructions...I wont defend you!
Fair enough Trelis, I certainly had my disagreements with Aapi re Sound; we remain good friends but he has bragging rights with SOU for his exit price...but we wont mention a certain African miner down Zimbabwe way..............
Trellis, Jones, I am guessing the accusations of 'High Crimes & Missdeamors' will be the next gambit going forward. Trellis, I do applaud your hard work in collating all those email replies into cohesive questions & I wish you all the best trying to find the answers your group are so desperate to seek. But I would never condone or put my name to your cause, however much I empathize with it because I do not believe there is any justice to be handed down to the downtrodden of AIM! 'Caveat Emptor' will always be the watchword or byword for 'Alternative Investment Marketeers' - or put more simply - stockmarket gamblers..............
Cheers, Crude
Iv'e lost track of the original intentions but I presume there was a 'mission statement' outlining the aims & goals of this 'class action' style collective? Whilst I empathize with those who have voiced their concerns in a collective parcel of emails that have now ben forwarded to our acting Chairman, I certainly would not condone taking the action through to the FCA & that is the reason I did not sign up to the 'shareholder rebellion'! It is one thing demanding answers to shareholder concerns - quite another making accusations of 'high crimes & misdemeanors' to the FCA!
I am convinced my old mate Appi was born a skeptic...but it could be his love of West Ham FC (hence the Appi - ammer) that kept him on the straight & narrow road of 'believe it when you see it'! Almost the very first day he invested in Sound Oil he was doubtful & reticent...but he soon made his feelings clear. He reminded me of those two hecklers from the Muppet Show, Statler - or maybe Waldorf! But his brand of 'realism' was soon to be recognised when the Company advertised a very important drilling job in Italy would be merely 'Plug & Play'...when this ultimately did not materialise he lost some faith. He lost more faith when what he thought was a repeat of a cont trick occurred at Sidi Moktar: same deal - plug and play. All you have to do is plug into the main pipeline, pump the gas & 'play'! But Jeff wasn't about to be conned twice so his bool**** radar was now on high alert! He must have had extreme common sense or divine intervention but by the time TE8 failed & he had almost suffocated on what he perceived as the new reality of the 'Deep Dive' presentation, he finally had enough & decided a small AIM explorer with huge ambition led by a 'Second-hand car salesman was not the punt for him. However, his main concerns were how JP raised money. He always thought James was a 'wide boy' whereas I saw JP as a CEO who quite literally saved Sound Oil from bankruptcy, rebranded & re-funded us & always had shareholder interest at heart. In all the times I met up with JP he always seemed genuine & more importantly genuinely enthusiastic about our Morrocan prospects! Anyway, we did not agree: Appi saw a 'mates' conspiracy where Sound debt was literally made into a pigs trough that international financiers & JP could wallow in - I just did not want to wallow in a tsunami of new share issues! It was a conflict of opinions & he may well be vindicated by selling out when he did but I remained confident in the geology. As it turned out we were a small AIM O&G explorer that was underfunded with too much equity exposure - but at the time we loved it when we increased our ownership from 28% to 47.5%, never once thinking that huge equity holding could become a burden! My old mate Jeff is a savvy investor with a great sense of humour & his looks remind me of Roger Daltrey..............though I am not sure you would want to hear him sing!!
PNE, you've probably got more time than me & if I hadn't been here for 10 years I would possibly feel just as you do. But we are where we are & I still believe there is a shed load of gas yet to be discovered. IMO this 'Plan B' will eventually vindicate the optimism of the Board re the geology & seismic surveys carried out. I feel James so believes in Tendrara that he accepted this deal as a way of ultimately seeing the project through to its, hopefully, joyful end. I have remained invested because I shared his hopes & dreams & firmly believe we can open up a new hydrocarbon provincle in Moroocco. There is way too much at stake for this project to fail & that is one reason why I am optimistic it will succeed!
Well done PNE, I will probably top up soon at these bargain basement prices - after all the more shares one owns the greater the dividend payout...whenever they start paying! We are so undervalued right now dare I say it is a golden opportunity to fill your boots & average down, double down, or whatever.
Greg, next you will be telling us your favourite band experience is Vampire Weekend singing 'Unbelievers'.............
https://youtu.be/lLD0Z_PRyQc
Lossgain, I hope you were able to see some of the local downland beauty such as Devil's Dyke, Seven Sisters & Beachy Head, Ditchling Beacon, Mount Caburn or Firle Beacon, none of which were far away from you. If you had you might have looked more kindly on our landscape...although seagulls pooing on your car probably didn't help! I am more to the west near the Arun Valley & have other delights to behold.
Cheers........Crude
Gregory, I think we all get the vampire allegory by now...but isn't it time for your thoughts & emotions to evolve to a higher plane that might involve thinking about how you are going to proceed with your Sound shares? Maybe your time would be better employed thinking about what you do next? Sell now or wait for the RNS explaining the deal & decide when you have digested it...you never know, it might not be that unpalatable!
It's great to be back in Sussex but I do love the Dartmoor 'Manor Hotel'. I have spent the week shooting air pistols, rifles, laser clay & archery. My rifle scores were in the low 90s but my archery was mid 90s & I shot the apple through the centre as it was placed on top of a polystyrene head...just after our head coach John had told the story of William Tell. I cant convey my joy at finally believing I am an 'Archer'.............I shot 91 that session & skewered the apple dead centre!
Dave, not2sure, I agree. There were always caveats & this is AIM - but I'm always amazed that internet gambling machines & the £100 a shot pokies get all the bad press when AIM is hardly mentioned! I bet there are plenty of punters losing more than their shirts on the AIM but when do you ever hear about it? 'Investing in the junior market hardly cuts it as a description of what goes on - what goes on is often pure gambling with people risking small fortunes for a chance at the big win.............I would not advocate any form of action other than to caution people that in future trust your instincts, do your own research & when you see a profit think hard before you ignore it in favour of that possible 5 or 10 bagger....they are like unicorns these days!
Down here in Dartmoor enjoying a sporting break with pistols, rifles, arrows & lazer Clays!